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Tag: Federal Open Market Committee (FOMC)

Another Turkish Lira flash crash

Another Turkish Lira flash crash   A busy start to the session dealing with yet another mini TRY flash crash as the bad Lira news continues to compound. Otherwise, global Forex and fixed income markets remain in neutral  overnight and predictably focused on the upcoming FOMC minutes The Turkish Lira meltdown. As far as I can […]

Fed Minutes to Drive Market as Trade Concerns Recede

The US dollar is mixed ahead of the release of the minutes from May’s Federal Open Market Committee (FOMC) meeting. The central bank held rates unchanged but there is almost 100 probability of a 25 basis points rate hike at end of the June 13 meeting. Commodity currencies were higher at the beginning the North […]

Italian Bond Yields Off Highs after Six Days of Selling

Italian government bond yields came off 14-month highs on Tuesday as the market paused after six days of heavy selling on concerns over the high-spending policies mooted by a potential coalition government in the euro zone’s third-largest economy. The likelihood of a new Italian government being formed by the 5-Star Movement and the far-right League […]

China to cut Tariffs on some Auto Parts and Vehicles

China’s Finance Ministry said that it will cut import tariffs on some vehicles to 15 percent, down from as much as 25 percent. The announcement Tuesday also said that tariffs on some automotive parts would fall to 6 percent. The cuts will be effective from July 1. The move signifies an attempt to open up […]

Trade Ceasefire Supports Risk Assets

Tuesday May 22: Five things the markets are talking about Markets traded mixed overnight, with global equities drifting and a number of risk currencies finding support as investors digest easing trade tensions and the latest comments from a plethora of central bank members. The EUR (€1.1809) has found some traction as Italian bonds recover from […]

Commodity currencies are beaming

  Currency Markets The US dollar has given up some of its gains overnight as investors keenness for Greenbacks has temporarily abated. The shifting dynamics around trade and tariffs does give pause for thought as US dollar bulls are consolidating gains at a very tricky and treacherous junction for both the USD and US bond yields. After […]

A test of the breakouts

A test of the breakouts  This week should be all about contesting and consolidating last week’s significant breakouts in 10 year UST, EURUSD, USDJPY and Oil Prices. And despite weekend inspired short-covering in US fixed income, we’ve seen a weekly close in US 10y above 3.05 %. And with the Baker Hughes rig count holding […]

Dollar Rises Amid Italian Coalition and China-US Trade Uncertainty

The US dollar appreciated against major rival currencies on Friday. The dollar rally is back on after the two of the largest parties in Italy agreed to form a coalition government and Japanese inflation retreated. Although there is no plan for Italy to exit the European Union it could put it to the test with […]

Dollar Consolidates ahead of Today’s Event Risk

Thursday May 17: Five things the markets are talking about Italian political uncertainty continues to dominate European domestic asset prices. Since yesterday, Italian bond yields have ballooned on reports of a draft government program, penned by the proposed populist coalition, the introduction of procedures within the eurozone to allow countries to quit the euro. The […]

The trend is your friend.

The trend is your friend. Currency Markets There was an intense focus on Italy Wednesday thanks to speculation that its new coalition government would request that the ECB write-off the bank’s QE-acquired debt of EUR250bn. Panic ensued with the EURUSD plunging to 1.1760 before recovering after the report was denied. But the Italian political noise […]