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Russia: Yes, We Can Call It A Currency Crisis

By: HaleStewart

I've written extensively about the deteriorating Russian economic situation (see here, here and here). In the broadest terms, growth is slowing and inflation is increasing. International sanctions as a result of Russia's military advances are preventing Russian businesses from re-financing debts. Read more

XE Market Analysis: North America - Dec 16, 2014

By: XE Market Analysis

USD-JPY drove broader dollar declines today, while strong Eurozone PMI data supported EUR-USD. USD-JPY touched a low of 116.22, the lowest since Nov-17 and some 140 pips down on yesterday's closing level. A lot of commentaries pointed to the extended losses in Japanese stock markets, with the Nikkei closing 2% down today, as driving the yen higher. Read more

XE Market Analysis: Europe - Dec 16, 2014

By: XE Market Analysis

USD-JPY led the dollar lower today. The pair's move correlated with fresh declines in Asian stock markets following the Markit/HSBC China manufacturing PMI for December, which came in at 49.5 in the flash estimate, down on the 49.8 median and first sub-50 contractionary reading in seven-months. Read more

XE Market Analysis: Asia - Dec 15, 2014

By: XE Market Analysis

The dollar headed lower versus the European majors and the yen in N.Y. morning trade on Monday. as another round of oil price weakness hit the equity markets. Risk off was again the driver, which was likely exacerbated some by the deadly terrorist situation in Sydney, Australia. Read more

Prime Minister Abe Has His Work Cut Out For Him

By: HaleStewart

Prime Minitster Abe – who was re-elected in a snap election over the last few days – has been in power a few years. He first came to power on the back of “Abenomics” – a three part economic revival plan that contained the "three arrows" of currency devaluation, structural reform and fiscal stimulus. Read more

XE Market Analysis: North America - Dec 15, 2014

By: XE Market Analysis

The dollar recovered during the London AM after trading softer in in Asia. The yen saw some chop, initially declining in the early Tokyo session as the market reacted to PM Abe's landslide victory at the weekend's election, which gives a fresh mandate to yen-negative 'Abenomics' policies, before firming in a delayed 'on-the-fact' manner as the outcome had been widely anticipated. Read more

XE Market Analysis: Europe - Dec 15, 2014

By: XE Market Analysis

The dollar traded softer in pre-European open trade in Asia, while the yen more than gave back early Tokyo losses and traded firmer in 'on-the-fact' manner following the as-expected landslide victory of PM Abe at the weekend's election in Japan. The election outcome gives a fresh mandate to yen-negative 'Abenomics' policies. Read more

Weekly Indicators: global weakness vs. US strength edition

By: New_Deal_democrat

Monthly November reports were few but strongly positive, including retail sales, consumer sentiment, and the JOLTS jobs report. PPI showed outright deflation. My usual reminder that the high frequency weekly indicators provide an up-to-this-week snapshot of the economy. Read more

XE Market Analysis: Asia - Dec 12, 2014

By: XE Market Analysis

The dollar remained under pressure in N.Y. on Friday, as risk-off was again in vogue. Stocks tumbled again, as oil prices continued their unrelenting slide, trading under $57.50. The much better than expected December preliminary U. of Michigan sentiment report gave the greenback a brief respite, though dollar selling picked up again into the London close. Read more

XE Market Analysis: Europe - Dec 12, 2014

By: XE Market Analysis

Relatively narrow ranges have prevailed among the main dollar pairings, which held comfortably within respective Thursday ranges. Liquidity was again reported to be on the low side due to the approach of year-end and ahead of the election in Japan at the weekend. Read more

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