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The euro has not been around for all that long, but it is one of the leading world reserve currencies. The status of the euro is second only to the US dollar when it comes to the foreign exchange instruments, central banks and monetary authorities hold as a reserve asset. The euro currency r...
By Jeff Weniger The euro won't stop chopping sideways. Its quiet drift downward has persisted since spring 2018, but it would be a fool's errand to extrapolate boring action forever. The currency can snap violently, and I think the push will be southward. Figure 1: EURUSD There were ...
Overview: The confrontation in Hong Kong and the fallout from the Argentine primary over the weekend join concerns about the conflict between the two largest economies and slower growth to force the animal spirits into hibernation. Global equities remain under pressure. Japan's Topix joined ...
I am getting prepared, you see. September is just around the corner and it will be the last European Central Bank meeting presided over by Mario Draghi, the Superman of Europe. My sense is that it is going to be one last, "Whatever it takes," as virtually all of the economies of Europe are hav...
Matteo Salvini, Italy's deputy prime minister, could not have chosen a worse moment for both the Italian and the European economies to trigger an Italian political crisis. Global economic policymakers and investors would be ignoring Italy's deteriorating political situation at their peril si...
By Francesco Pesole , FX Strategist Trade tensions are inevitably bound to remain the primary driver of market sentiment in the days ahead, but expect an eventful week in terms of Italian political developments, which may continue to fuel upside pressure on BTP rates. USD: Trade t...
The EUR/JPY pair is an important currency pair, often watched closely as a barometer of risk-on activity. The more that the pair is bid up, the more that the market is thought to be signaling risk-on activity. The reverse is true: when the euro weakens against the yen, a risk-off signal is off...
Overview: China again tried to temper the downside pressure on the yuan, and this appears to be helping the risk-taking attitude. Many centers in Asia were closed today, including Japan and India, though most of the other equity markets advanced modestly, including China, Korea, and Australi...
The euro has risen recently, likely on the back of reduced short positioning due to market expectations of further Fed easing, stemming from trade war tensions (between the U.S. and China). Easing, i.e. lower rates, could be required from the Federal Reserve's perspective if such headlines con...
The dollar was mostly weaker against the major currencies last week. The Swiss franc and Japanese yen were joined by the seemingly unlikely candidate, the Swedish krona, to have gained about 1% against the US dollar last week to the lead the majors. The yen and franc's gains extended moves a...