Tag Archives: Germany

Swiss Franc The Euro has fallen by 0.11% to 1.054 EUR/CHF and USD/CHF, May 04(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The constructive mood among investors in April has given way to new concerns as May gets underway. Japan and China are still on holiday, but most of the other markets in Asia fell, led by 4.5%-5.5% declines in Hong Kong and India, and more than 2% in most other local markets. Australia...

What set me off down the rabbit hole trying to chase modern money’s proliferation of products originally was the distinct lack of curiosity on the subject. This was the nineties, after all, where economic growth grew on trees. Reportedly. Why on Earth would anyone purposefully go looking for the tiniest cracks in the dam? My very first day on the job, as an intern my first boss told me to prepare myself. I was embarking on a career in the most absurd industry...

Swiss Franc The Euro has risen by 0.45% to 1.0587 EUR/CHF and USD/CHF, March 23(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: In HG Wells’ “War of the Worlds,” the common cold repelled a Martian invasion. Now, a novel coronavirus is disrupting everything and everywhere. Global equities continue to get hammered, though the apparent relative resilience of Japan may have spurred some buying of Japanese equities....

Forward-looking data is starting to trickle in. Germany has been a main area of interest for us right from the beginning, and by beginning I mean Euro$ #4 rather than just COVID-19. What has happened to the German economy has ended up happening everywhere else, a true bellwether especially manufacturing and industry. The latest sentiment figures from ZEW as well as IFO are sobering. Taking the former first, it had been quite buoyant last year on the false...

Swiss Franc The Euro has fallen by 0.08% to 1.0531 EUR/CHF and USD/CHF, March 20(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Dramatic price action continues but in the other direction.  Stocks and bonds have rallied strongly, and the US dollar is snapping a strong advance with a sharp and broad setback. The immediate trigger is hard to identify. Some accounts linking it to fears that the California shutdown...

Swiss Franc The Euro has fallen by 0.40% to 1.0581 EUR/CHF and USD/CHF, March 06(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The sharp sell-off in US equities and yields yesterday is spurring a mini-meltdown globally today. Many of the Asia Pacific markets, including Japan, Australia, Taiwan, and India, saw more than 2% drops, while most others fell more than 1%. The MSCI Asia Pacific Index snapped the...

Earlier today, Mexico’s Instituto Nacional de Estadística y Geografía (INEGI) confirmed the country’s economy is in recession. Updating its estimate for Q4 GDP, year-over-year output declined by 0.5% rather than -0.3% as first thought. On a quarterly basis, GDP was down for the second consecutive quarter which mainstream convention treats as a technical recession. On a yearly basis, it was actually the third straight. Nothing seems to have changed as 2019 drew to...

When Mario Draghi sat down for his scheduled press conference on April 4, 2012, it was a key moment and he knew it. The ECB had finished up the second of its “massive” LTRO auctions only weeks before. Draghi was still relatively new to the job, having taken over for Jean-Claude Trichet the prior November amidst substantial turmoil. The non-standard “flood of liquidity” was an about-face from his predecessor (who had been raising rates in 2011 before the wheels...

Swiss Franc The Euro has fallen by 0.27% to 1.0592 EUR/CHF and USD/CHF, February 25(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Yesterday’s bloodletting in global equities has calmed, but investors remain on edge. Despite all the concerns that the markets were under-appreciating the implications of the new coronavirus, there is a sense that yesterday’s moves were in excess.  Japanese markets, which were...

The US dollar’s surge alongside gold has eclipsed the equity market rally as the key development in the capital markets. Even the traditional seemingly safe-haven yen was no match for the greenback. The dollar appeared to have been rolling over in Q4 19, as the sentiment surveys in Europe improved, Japanese officials seemingly thought the economy could withstand a sales tax increase, and data suggested the Chinese economy was gaining some traction. However, 2020 has...