Jan 10, 2011

Aussie Retail Sales Rebound in November Australian retail sales rebounding in November, climbing 0.3%, matching the consensus forecast heading into the report. That rise follows a 0.8% decline in retail sales in October, which was revised higher in today’s report – was originally a 1.1% drop. The data means that retailers had a bounce back month and that...

Jan 3, 2011

1. Markets Start 2011 with Risk-On Trading: Equity markets were closed in Australia, Japan, China, and London, and so thin trading conditions continue in currency markets. We started Sunday with traders selling the EUR and buying USD, but that turned around in European trading as risk appetite reigned. The commodity bloc of currencies gained on better risk...

Dec 30, 2010

China released its manufacturing data for December, and while the index slid slightly to 54.4 from 55.3, it still showed strong activity to end the 4th quarter. From the Release (via Markit): “December data pointed to a continued improvement of Chinese manufacturing sector operating conditions. However, overall growth of the sector lost momentum, with both...

Dec 27, 2010

End of last week, gold was slightly lower against the USD, as oil continued to rise (for which we have few meaningful explanations, especially because high oil prices seem to be on everyone`s tongue nowadays). EURUSD was almost totally unchanged, but the USD was generally stronger against most of its peers. European bourses underperformed other markets, in...

Dec 2, 2010

Today stock markets were generally higher, and risk assets were finding buyers at better prices almost around the world, as the yield of sovereign CDS of the Eurozone came down and the Euro appreciated against the USD, which was weaker against most currencies. The most obvious, and strongest reason for today’s move is profit taking before tomorrow’s...

Nov 24, 2010

The Peoples Bank of China raised its Required Reserve Ratio or RRR by an additional 50 basis points on Friday for the second time in two weeks. The PBC stated that the move was intended “to strengthen liquidity management and appropriately control supplies of money and credit.” (*If you have any questions, Contact us at our US Phone # (786)...