The unlucky Aussie
28 March 2012
Once again it is the latest decline in the Aussie dollar that is attracting most interest in the forex market this morning.
Daily Forex Brief: FxPro
Simon Smith, Chief Economist, FxPro
Simon Smith, Chief Economist
Simon has over seventeen years experience of macro forecasting and investment strategy research. Prior to joining FxPro in May 2010, Simon was a consultant with Thomson Reuters, having spent four years as Chief Economist at Weavering Capital.
He has held economic and strategy positions with Standard & Poor’s, together with consultancy firms 4Cast and MMS International.
Simon holds an MSc. in Economics from the University of London and a BSc. from Brunel University.
Michael Derks, Chief Strategist
Michael joined FxPro in May 2010 having been previously at Deutsche Bank, Rothschild and Schroders.
Michael Derks, Chief Strategist, FxPro
He is a multi-discipline investment and market strategist/economist with extensive expertise in FX, strategic and tactical asset allocation, fixed income, equities, property and alternative assets.
An accomplished economic and investment writer and researcher, Michael holds a Bachelor of Economics degree from Macquarie University in Sydney.
The wobbly won
27 March 2012
The Korean won is one of the standouts in overnight trade, gaining over 0.5% vs. the USD to 1134, just after USD/KRW touching a two-month high yesterday at 1141.
Oil prices now the strongest growth headwind
27 March 2012
Last week’s warning from the IEA that the surging cost of oil now represented a bigger risk for global growth than the European sovereign debt and banking crisis did not generate the publicity it deserved.
Dark days ahead for the Dutch
27 March 2012
Just six months ago, Dutch Prime Minister Rutte and Finance Minister de Jager were espousing the necessity for exclusion from the eurozone of those sovereigns who flouted Europe’s fiscal rules.
Bernanke reaffirms ultra-loose policy stance
27 March 2012
Yesterday’s remarks by Fed Chairman Bernanke have put paid to the recent hypothesis that the Fed might be reversing its commitment to an extended period of ultra-loose monetary policy.
Bernanke will stay cautious on recovery prospects
26 March 2012
It is extremely unlikely that Fed policy officials will alter their commitment to unchanged rates (for the next two years) any time soon
Tough times in India
26 March 2012
Evident over the course of the first quarter of 2012 is growing concern that China’s soft landing might be rather more turbulent than expected.
Contrasting Germany
26 March 2012
After the decline in Q4 GDP at the end of last year, there is a strong focus on whether this was a one-off wobble or the start of a more sustained slowdown of the German economy.
Germany moving the right way
26 March 2012
It now looks more than likely that Germany will recommend an increase in the firepower of the eurozone’s rescue facilities at Friday’s meeting of finance ministers.
Spanish suffering
23 March 2012
With Greece apparently ‘sorted’, the focus of investor angst is progressively turning towards Spain, where the 10yr yield is back above 5.5%.
Gold is struggling
23 March 2012
After ten consecutive years of gains, gold is definitely struggling. Since last September’s record high above USD 1,900 an ounce, the price of gold has fallen 13% to around USD 1,650.
Funny Friday in FX
23 March 2012
We’re entering a funny Friday in the FX space, with EUR/USD moving higher at the same time that peripheral yields are on a widening path once again.
Dollar dominance
23 March 2012
The US currency is only 0.5% below the opening level of the year, looking at the DXY dollar index and has been on a rising trend for most of the week.
US labour market perspectives
22 March 2012
The consistent run of favourable news emanating from the labour market has contributed most to the turnaround in perceptions on the state of the US economy.
Tough times for the Aussie
22 March 2012
There can be little question that the cycle has turned for the Aussie. In 2009 and 2010, it seemed as though the Australian currency could do no wrong...
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