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Inflation week and GDP in Turkey in the spotlight With the exception of Poland, inflation for November will be released across the CEE region. While inflation is well anchored in the Czech Republic, it remains elevated and above inflation target in Hungary. In the Baltic States inflation continues to head up and according to our [...]
Market Movers ahead There are no major data releases in the US. The global focus will remain on the debt crisis and the response from ECB and European politicians. In the eurozone national data for industrial production are set to improve following a soft October. At the Bank of England meeting anything but an unchanged [...]
FX Market Overview So did Russian Prime Minister Putin know he had done enough to secure the 2018 world cup which meant he didn’t need to go to Zurich to hear the result? The bare faced lies of the voting members of the FIFA committee have created a whole heap of conspiracy theories and suggestions [...]
FX Market Overview After a tumultuous week in terms of data and an even more extraordinary week in terms of how badly Britain copes with snow, we seem to be returning to some sort of normality. As far as the snow goes, the thaw in my part of the world was a welcome sight and [...]
The Fed, following along the lines of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, unveiled the information regarding financial aid provided during the worst of the crisis. The report includes those that tapped the Fed, how many times and in what amounts. In order to stave off an even larger calamity [...]
Import prices (Nov): significant rise due to higher petroleum prices UMI consumer sentiment (Dec): further increase Consumer credit had fallen by a total of $168bn from October 2008 to August 2010. But it rose by $2.1bn in September, which was just the third increase in two years. We expect consumer credit to have stagnated in [...]
The Japanese yen relinquished some of its recent strength versus the greenback in the Wednesday session, shedding almost 1%. Meanwhile, the major currencies were marginally higher against the dollar, with the British pound edging up by 0.35%. US equities also recouped from earlier losses, finishing slightly higher as the Dow Jones recovered above the 10k-level. [...]
The major currencies recovered against the dollar in the Thursday session, with the Swiss franc edging up by more than 0.6% and the euro firmer by almost 0.5%. Meanwhile, US equities struggled lower as the Dow Jones closed beneath the key 10,000-level, shedding 0.74% to 9,956 and the Nasdaq declining by more than 1% to [...]
Global equity bourses were sharply lower after a drop in US markets saw the Dow, the S&P, and the Nasdaq fall by 1.4%, 1.5%, and 1.6% respectively. Markets closed out August in the red on mounting concerns that the global recovery is faltering. Although PCE and personal spending figures were largely in line with expectations, [...]
The Australian dollar was the key gainer in the Wednesday session, advancing by nearly 2.4% against the greenback, while the Canadian dollar firmed by over 1.5%. The US equity bourses posted strong gains, with the S&P 500 and Nasdaq rallying by almost 3% and the Dow Jones higher by over 2.5%. Crude oil also clawed [...]