With a warning from US Federal Reserve banker Neel Kashkari that increasing interest could trigger a recession, dollar doves are alive and vocal. We believe they will prevail enough to block some additional hikes...
Global markets are celebrating US tax reform. Asian stocks followed the record session on Wall Street. This bull market keeps running past forecasts, and profit-taking to lock in a solid year is not happening. The World Bank increased its forecast for China’s economic growth in 2017 to 6...
Chinese growth has been helped by credit growth in recent years. Companies' borrowing helped raise debt from 150 percent of the economy to 270 percent of the economy in 10 years. Data suggests that credit growth continues to be important. Off-balance-sheet lending has replaced bank lending...
After the deluge in central bank reporting of recent days, the coming week looks far less busy. The Swedish central bank may decide on a final extension of its asset purchase program on Wednesday, but this should have only a limited impact on the currency...
The ECB meeting did not bring anything new on the table. The European Central Bank has held its rates unchanged and increased its forecast for growth for the next years. In addition, officials believe that the inflation won’t reach the target by 2020...
The Australian dollar extended gains for the fifth consecutive days after the Australian Bureau of Statistics (ABS) released a better-than-expected November job report. Although the unemployment rate held steady at 5...
As expected the Fed ends up its year by increasing rates to the window 1.25% - 1.50%. It is finally the third time in the year that the US Central Bank increases rates...
The Federal Reserve opened the ball yesterday by raising borrowing costs. The central banks’ show will continue today with the SNB, Norges Bank, CBRT and ECB. As widely expected the Swiss National Bank didn’t change anything to its monetary policy set-up...
The SNB is not moving, unwilling to disrupt the markets current narrative. From the SNB vantage point macro and domestic conditions are in a sweet spot for current policy...
After surging across the board yesterday, the US dollar partially reversed gains during the Asian session, with the dollar index returning towards 94 followinga positive surprise in the PPI Index. November’s headline producer prices gauge rose 3.1% year-over-year, beating median forecast of 2...
The USDJPY has been increasing since the last week of November and is now monitoring stronger levels below 114 yen for one single dollar note. The yen is getting weaker but remains way too strong for the Bank of Japan to start normalizing its monetary policy...
Many market participants expected that the introduction of Bitcoin futures trading would trigger a sharp correction, as it would be finally possible to take short positions. In fact, the opposite happened, the price soared more than 20% and returned above the $17,000 threshold...
The Swiss franc keeps on weakening against the euro and is now trading below 1.17. Late last July the EUR/CHF pair jumped from 1.10 to 1.15 and since the pair continues rising. This morning the sight deposits have been released and it seems that at current levels, the SNB is less under pressure...
The US dollar has been rallying strongly since the market opening this morning. The greenback extended gains against all its G10 peers, rising the most against the Japanese yen and the Swiss franc (+0.65% both), the New Zealand dollar (+0.45%) and the Swedish krona (+0.38...
The US labor market report next Friday should have lesser importance for once. Given how solid US economic data has been of late, a Federal Reserve rate hike in December seems highly likely and is almost fully priced by markets...
For economists, the end of the year is often a gentle wind-down. This is not the case in 2017. The dullest event is the US Federal Reserve meeting (December 13). The Fed has basically told markets that there will be a 0.25 percent rate increase. Markets, for once, have listened...
Now that the Bitcoin has reached 10k dollar. Speculation regarding its futures are reaching a climax. Some sees it at 1 million dollar like John Mcafee who in a tweet declared that he was increasing its forecast on the digital currency...
After a promising start into the week, the greenback is back in the doldrums as investors scale down their long USD positions. After rising as much as 0.75% during the week, the dollar index reversed gains and returned at around 92.80 on Friday morning...
While the market focus is clearly on Crypto currencies conditions are steady improving for EM FX. Constructive global backdrop including improved risk appetite and strong growth will send investors deeper into select EM currencies...
