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Tag Archives: trade

FX Daily, July 17: Back to the Well Again

Swiss Franc The Euro has risen by 0.22% at 1.1095 EUR/CHF and USD/CHF, July 17(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: After slapping punitive tariffs on structural from China and Mexico last week, US President Trump threatened to end the tariff truce with China because it is not stepped up its purchases of US agriculture products. Trump said the tariff...

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On the Gains from Integration in the European Union

In an interview with the NZZ, Gabriel Felbermayr explains where the European Union adds value, and where it doesn’t. The key points: Free trade for goods and services as well as capital and labor mobility are partial substitutes. Partial, because factor mobility fosters trade and technology transfer. Estimates suggest that free trade and capital mobility generate more than 80% of the welfare gains from European integration. Even labor mobility does not require admission into welfare...

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FX Daily, July 05: Dollar is Bid Ahead of Jobs Report

Swiss Franc The Euro has risen by 0.10% at 1.1126 EUR/CHF and USD/CHF, July 05(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The dovish response to news that Lagarde was nominated to replace Draghi was extended by the dismal German factory order report that has pushed the euro to new two-week lows and kept bond yields near record lows. The focus ahead of the...

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FX Daily, July 01: Trade Optimism Meet Reality of Disappointing PMI

Swiss Franc The Euro has risen by 0.52% at 1.1155 EUR/CHF and USD/CHF, July 01(see more posts on EUR/CHF and USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: A new tariff truce between the US and China, coupled with the North Korean diplomacy and Russia-Saudi tentative agreement boosted investor confidence and sharp equity rallies. Japanese and Chinese equities rallied 2-3%. Most markets...

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FX Weekly Preview: Cutting to the Quick

Central banks are prepared to take fresh measures to strengthen and extend the business cycle primarily because price pressures are below what their predecessors thought would be acceptable levels. Draghi, speaking for the ECB, the Federal Reserve, and the Bank of Japan ratcheted up their concerns, which, even without new initiatives, were sufficient to drive interest rates lower. Eurozone There is no real definition...

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FX Daily, June 21: Markets Pause Ahead of the Weekend

Swiss Franc The Euro has risen by 0.30% at 1.1115 EUR/CHF and USD/CHF, June 21(see more posts on EUR/CHF and USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The global capital markets are trading quietly ahead of the weekend. Equity markets are mostly narrowly mixed. Chinese shares extended their run, and the major benchmarks were up 4%+ on the week. Japan, Australia, South Korea, and...

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FX Weekly Preview: FOMC, EMU PMI, and Pre-G20 Positioning: Crossroads and Crosswinds

The week ahead is likely to provide some clarification for investors on three fronts that have been a source of uncertainty. The FOMC meeting, with updated forecasts, is center stage. The credit markets are pushing the Fed to be aggressive but can be disappointed. In the eurozone, the preliminary PMI may confirm a modest, even if uneven recovery. The G20 summit is the focus of much attention as many see it as the last...

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FX Daily, June 12: Anxiety Ticks Up, Risks Pared

Swiss Franc The Euro has risen by 0.08% at 1.125 EUR/CHF and USD/CHF, June 12(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The S&P 500 snapped a five-day advance yesterday and set the heavier tone for equities today. Continued protests in Hong Kong were not shrugged off as they have been in the last couple of sessions. The Hang Seng’s nearly 1.9% decline was...

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FX Daily, June 11: Markets Take Another Small Step Away from the Edge

Swiss Franc The Euro has risen by 0.37% at 1.1235 EUR/CHF and USD/CHF, June 11(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The recovery in equities continues today in light news day. Nearly all the bourses in the Asia Pacific region rose, led by a 2.6% gain of the Shanghai Composite. The MSCI Asia Pacific Index rose for a third session. European equity...

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FX Daily, June 05: Dollar Remains on Back Foot

Swiss Franc The Euro has fallen by 0.09% at 1.115 EUR/CHF and USD/CHF, June 05(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The Federal Reserve’s patience never excluded a rate cut should conditions warrant. The acknowledgment of this without signaling a change its stance is being seized upon to justify aggressive pricing of rates. At the same time, there has...

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