Fed Posts Terms Of Unlimited Foreign Exchange Swaps With Bank of England, European Central Bank And Swiss National Bank
Late yesterday, the Federal Reserve Bank of New York posted the full terms of the various foreign exchange swaps that it instituted as part of the bailout of the Euro, and of various French and German banks. The specifics Read more
Interesting Developments Afoot
This Sunday the Eurozone in combination with the U.S. Fed agreed to completely monetize all current and upcoming government debt for countries including Greece, Portugal, Italy, Spain, and whoever else in the Eurozone needs cash, to the tune of approximately $1 Trillion USD ($1,000,000,000,000.00). They agreed that the money created to fund this bailout should be sanitized; Read more
Value of the US Dollar
Since the Breton Woods system was brought into place in America, the value of one dollar expressed in terms of grains of gold has steadily declined. If the US Dollar were a corporation, would you invest in it seeing this chart? Read more
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- Week in FX Europe May 13-18 May 18, 2012The collapse of efforts to form a Greek government this week has reinforced, for many, the bullish outlook for the big dollar. The run-up to Greek parliamentary elections on June 17 will be marked by continued concerns about a disorderly exit from monetary union. The market currently sees contagion fears making inroads with other periphery economies. Moody’s […]
- Loonie the first to hike? May 18, 2012Canada looks like a safe bet to be the first amongst the G8 members to hike rates. Last month’s inflation figures were a tad stronger than expected, topping Governor Carney’s +2% inflation target. Despite the small breach, no CBank in this stuttering economic environment would be rushing to raise rates. Canada’s outperforming metrics, employment, housing and […]
- RBA Rate Cut Squeezes AUD May 18, 2012Asian bourses have ended trading, hitting four-month lows as weaker US data added to rising worries over Europe. Commodities and their currency sensitive pairings are not immune to the surround sound of contagion fears. Gold has been able to dig itself out of Monday’s bear market trap, ending on a high, and in the black. The same cannot be said for the Aussi […]
- Greek Contagion Pushes Markets into Red for Year May 18, 2012World shares slid and German borrowing costs hit record lows on Friday as a deepening Spanish banking crisis, uncertainty about Greece’s future in the euro zone and lacklustre U.S. data bolstered safe-haven assets. World stocks, as measured by the MSCI index, dropped 0.7 percent and are now below where they began the year, having relinquished all the first-q […]
- US Banks Up Insurance Sales On Euro Debt May 18, 2012U.S. banks increased sales of protection against credit losses to holders of Greek, Portuguese, Irish, Spanish and Italian debt in the last quarter of 2011 as the European debt crisis escalated. Guarantees provided by U.S. lenders on government, bank and corporate debt in those countries rose 10 percent from the previous quarter to $567 billion, according to […]
- Gold Climbs a second day on Euro concerns May 18, 2012Gold gained for a second day in New York as concern Europe’s sovereign-debt crisis is worsening spurs demand for the metal as a protection of wealth. The euro reached a four-month low versus the dollar after Fitch Ratings downgraded Greece’s long-term credit rating, citing heightened risk that the nation may not be able to sustain membership in the monetary […]
- EURs to be Recycled May 18, 2012The third largest IPO in corporate history, the largest in tech, is about to make a few specs very wealthy today. Frantic Facebook Friday’s enthusiasm does not seem to be spilling over to disrupt the dour mood of FX. The 50% of Americans who believe that Facebook is a fad, will not be allowed to gatecrash today’s party. The EUR bull thought they caught a bre […]
- EUR Short Squeeze Too Far? May 17, 2012This market needs to catch its breath after the selling pressure across currencies and the blood bath in equities this week. It can be rather monotonous to listen to the euphoric rants of the EUR bear. To date, it has been an unfair playing field. They have all the negative ammunition. For the bulls, it seems they have to wait for that squeeze going just a w […]
- Officials Talk Openly of Greek Euro Exit May 16, 2012With only enough cash on hand to keep the country afloat for just another month or so, the noose is tightening on Greece. The next aid installment – approximately 30 billion euros – is desperately needed to meet upcoming debt obligations, but is contingent upon Greece first implementing a further 11 percent in spending cuts. Meanwhile, the results of the ele […]
- BoE Sees Inflation and Weaker Growth In UK May 16, 2012The Bank of England (BoE) said in its report today that the UK’s inflation is likely to remain above its 2 percent target for at least another year, while growth will be subdued and vulnerable to the euro zone debt crisis. The central bank sees inflation at about 1.6 percent in two years time. The Bank’s forecasts represent a much slower fall in inflation th […]
- Week in FX Europe May 13-18 May 18, 2012
