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According to The Bank of International Settlements, the global foreign currency exchange daily transactional turnover averages $6.6 trillion. As seen in energy, metals, food commodities, and real estate, the recent surge in inflation has also been taking place in foreign exchange. ...
Federal Reserve Governor Brainard's suggestion that of a rapid unwind of the Fed's balance sheet stoked a bond market sell-off that is continuing today, rippling through the capital markets. Rising US yields has helped lift the greenback to JPY124. The dollar's multiyear high set in l...
The Reserve Bank of Australia hinted that it was getting closer to a rate hike. The Australian dollar was bid to its best level since the middle of last year. The euro posted a key reversal last Thursday, turning back from a four-week high near $1.1185 and settled below the previous d...
Russia's brutality as it re-positioned forces in Ukraine and China's move to ease the clash with US auditors dominate the news. Hong Kong tech stocks rallied on the news while mainland markets are close today and tomorrow for a national holiday. The MSCI Asia Pacific Index has tra...
Sentiment among small companies worsened. The eurozone's initial estimate of March CPI jumped to 7.5% from 5.8% in February. The market expects another strong rise in nonfarm payrolls even if matching last month's 678k increase. For further details see: EMU CPI Surges, M...
With not much geopolitical risk premium left, the FX market could start catching up with the recent shifts in rate differentials and economic fundamentals. This implies a stronger dollar, and the overvalued EUR/USD could soon slip back below 1.10. EUR/USD looks expensive in the sh...
The poor Chinese March PMI and talk that the US could tap its strategic oil reserves by as much as one million barrels a day for six months have rippled through the capital markets. The dollar found support ahead of JPY121.10, which is the (38.2%) retracement of the rally since March ...
Although BOJ Governor Kuroda, who met with Prime Minister Kishida earlier today, does not seem concerned about the yen's weakness, Finance Minister Suzuki seemed more cautious. The Australian dollar bounced off four-day lows slightly below $0.7460 yesterday and settled above $0.7500. ...
A separate report by a Japanese research group found that a 10-yen appreciation of the dollar boosted operating profits by JPY1.5 trillion (~$12 bln). The Ukraine government appears willing to accept that it will not join NATO, but refuses to recognize any loss of territory, and of co...
Led by financials, utilities, and communication, the Stoxx 600 has risen by about 0.75% in the European morning. China is taking a new initiative though that has not been widely reported. It appears that China and the Solomon Islands are close to a security pact. A pre-election du...
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ProShare Advisors and ProShare Capital Management announced today plans to liquidate and close six ProShares Trust ETFs and two ProShares Trust II ETFs based on an ongoing review of ProShares product offerings. Specifically, the following ETFs will be liquidated and closed: The last...