Forex News
Russia: Political uncertainty removed
As expected, the announcement of the candidate for Russia’s March 2012 presidential elections was made on Saturday at the United Russia party congress. This candidate, we were told by current president Medvedev, will be PM Putin.
UniCredit EEMEA Daily
News CZ: Neutral – CNB left the repo rate unchanged at 0.75% (p2) RO: Negative – MinFin sold RON 0.1bn 10Y ROMGB: yield 7.65% (p2) SA: Negative – SARB leaves repo rate unchanged, discussed rate cut SI: Negative – Moody’s cuts rating by one notch to Aa3 with negative outlook citing economic slowdown and banking […]
O/n Wrap, Orderbook & Flow, $Asia, G20
1) Overnight Asia Wrap G20 Headlines dominate the day… Asian equities trashed to start the day, keeping pace with their counterparts on the other side of the globe. Kospi down over 5% the biggest mover. Rumors then began to circulate of a emergency press release from the G20, ” JIJI SAYS G20 TO CONFIRM COOPERATION […]
What matters today (Asia edition)
Developed macro 1. Risk-off sessions were seen with intensifying worry about double-dip recession 2. No first-tier data in Europe, but key European speakers in Washington.
Global FX Special: No ‘twist’ for FX
No ‘twist’ for FX We maintain a defensive stance in FX amidst few surprises from the Fed The FOMC announces much anticipated ‘twist’ operation to extend the average maturity of its balance sheet. Overall the Fed’s dovish stance reaffirms a weak growth outlook and keeps us defensive on global currencies. Our preferred trades include: CAD, […]
UniCredit EEMEA Daily
News CZ: Positive – MinFin sold CZK 8.2bn CZGB 2.75/14: yield 1.65%, bid/cover 2.34 (p2) KZ: Neutral – Minfin placed KZT 10bn (EUR 50mn) in 13Z t-bonds: yield 5.0% (p2)
O/n Asia Wrap, Orderbook & Flow, $Asia & FOMC Recap
1) Overnight Asia Wrap Risk off and USD buying continue… The day starts very choppy with currencies bouncing off their lows (AUD 1.0040s to 1.0079). NZD GDP +0.1% q/q much lower then the +0.5% expectation, and kiwi gets slammed from .8060 to .8010.
Twist – good for the dollar?
If ‘twist’ flattens the curve and doesn’t send short yields down, it won’t hurt the dollar. The FOMC concludes this evening with three policy options (other than doing nothing, which isn’t Mr Bernanke’s way): Cut the rate on banks’ excess reserves, increase the sum of bonds held on the Fed’s balance sheet, or extend the […]
UniCredit EEMEA Daily – Hungary, Russia, Turkey
News HR: Positive – Central bank raises mandatory reserve requirement from 13% to 14%. (p2) HU: Mixed – NBH MPC keeps rates unchanged / sees about 20% participation rate in FX mortgage repayment scheme / says ready provide FX from reserves (p1) TK: Mixed – CBT MPC leaves rate unchanged / sells USD350mn at FX […]
Asia Wrap, Orderbook & Flow, FOMC, USD/Asia
1) Overnight Asia Wrap A quiet start to the day in Asia with the market hanging on the some aggressive moves by the FOMC tonight and expectation that Greece will receive its next tranche of aid amid progress on Greek talks. EURUSD opened at 1.3701 falling briefly to 1.3679 before moving higher to 1.3724. Cable […]
HSBC Macrobullets
TOP House Speaker John Boehner (R., Ohio), Senate Minority Leader Mitch McConnell (R., Ky.) and other GOP leaders, in a letter Monday to Fed Chairman Ben Bernanke, urged Fed officials to “resist further extraordinary intervention in the U.S. economy.” Greece reports “satisfactory progress” in talks with troika; Talks to continue over weekend in Washington, D.C.; […]
Germany: ZEW economic expectation index continue to trend down in September
The ZEW economic expectation index continues to trend downward in September as sentiment remains downbeat owing to a combination of factors, including scepticism concerning global GDP growth outlook and the ongoing sovereign debt crisis in the euro area.