Insights

 

FX Daily
January 13, 2015 Posted by
Polling ahead of Greece’s January 25 elections are showing the anti-austerity Syriza party in the lead by 3 points. Meanwhile Greece’s current aid agreement is due to expire at the end of February and the ECB is warning that it would choke off funding to Greek lenders rather than renew an international bailout package if austerity measures were not adhered to.
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FX Daily
January 12, 2015 Posted by
Debate is intensifying in Europe ahead of their January 22 policy meeting over calls to introduce quantitative easing. Draghi will make arguments in favor of QE at a conference in Berlin on January 14, the same day the European Court of Justice in Luxembourg will announce a non-binding legal opinion of a previously announced but never used plan to purchase bonds under a program known as Outright Monetary Transactions. While many central banks globally have the mandate to undertake quantitative easing, its legality within Europe is unclear.
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FX Daily
October 31, 2014 Posted by
The JPY fell sharply, off by 2.5%, to a 6 year low after the Bank of Japan increased its monetary stimulus targets. The Bank intends to increase annual holdings of government securities to 80 trillion JPY (roughly $723 billion), from 60 to 70 trillion yen, further adding to their unprecedented stimulus.
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FX Daily
October 29, 2014 Posted by
The markets are quiet this morning in advance of today’s Fed announcement. Most market participants expect the Fed to end its quantitative easing program, which currently stands at $15 billion per month, while leaving rates unchanged near zero.
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FX Daily
October 28, 2014 Posted by
Global equity markets are higher on stronger corporate earnings while treasuries sold off on the back of better than expected consumer confidence. Approximately 80% of S&P 500 companies have reported earnings, with 61% of those reporting beating sales targets.
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FX Daily
October 27, 2014 Posted by
The major event of the week will be the FOMC policy announcement on Wednesday in which the Fed may announce the end of its quantitative easing program; which given Bullard’s recent dovish comments is not a foregone conclusion. The program currently calls for $15 billion of security purchases per month.
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FX Daily
September 26, 2014 Posted by
Greek Prime Minister Antonis Samaras is working to convince German Prime Minister Angela Merkel that Greece can now handle an early exit from their bailout program. Earlier in April, Greece issued debt for the first time in 4 years and yields on the nation’s ten year note have fallen from a record high of 44.21% to 5.47%, which is less than yields of similar debt issued by Iceland and Mexico.
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FX Daily
September 24, 2014 Posted by
Japanese Prime Minister Abe said that weakness in the JPY could have both positive and negative consequences and noted that he would be cautious about impacts on the local economy. Abe’s comments followed those of Economic Minister Amari and Finance Minister Aso who stated that too rapid a decline in the JPY was not desirable.
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