Our Daily Brief provides insights into the news and views driving today’s foreign currency exchange rates.
Istanbul Express(ion) by its citizens Over the weekend the citizens of Istanbul spoke and the result was a decisive defeat for President Erdogan’s policies with 54% of the vote for the Mayor of Istanbul going to Ekrem Imamoglu. Why is this significant? First because the expected winner Erdogan man Binali Yildirim only won 45%. […]
Good Vibrations With Beach Boy Brian Wilson turning 77 yesterday, there are a number of lessons to be drawn including the one that says that some rock stars do miraculously live long(er) despite their lifestyle. In 1942 when Brian was born, the USA was drawn into WW2 following Pearl Harbour. At that time and […]
China and the Renminbi Yuan With USD1 buying CNY 6.9218 on Friday, the trader talk was when, not if, the symbolic level of 7 would be breached with expectations that the G20 at the end of this month would be that time. The Chinese are talking down any significance of this level which to […]
Currency Manipulators It’s become a bit of a theme of late. Twitter exchanges between the leader of the United States of America and the de facto voices of China’s state-run media frequently weigh in on the manipulation debate. 7 and 7.8 are the key numbers in this game and command the attention of […]
Mexico and Markets So the Mexican President and incidentally the market had it right and the US tariffs threatened for today have been shelved. This had been largely discounted as we wrote last week but still the Peso strengthened against the USD over the weekend. Disappointing US employment figures on Friday have weakened […]
AUDJPY From the title you might think well, I don’t trade Aussie Dollars, come to think of it I’ve never been there in my life. Similarly, I’ve never had a Japanese Yen to my name, why on earth would I consider the exchange rate between the currencies of these two countries that are at […]
Big Week Not just with the European elections on Thursday but in Australia where the Liberal Coalition won a surprise victory at the weekend boosting AUD but in the context of a near 3 year low, in Germany where Angela Merkel is being pressured to stand down at the end of this week by […]
Chicken The question on everyone’s lips yesterday afternoon was, ‘what on earth has to happen to move markets?’. The day started with a considerable appreciation within safe haven assets with the Japanese Yen and Swissie making early breaks skywards. US and German treasuries also rallied with the yield falling on Washington’s 10-year treasury note […]
Markets: Crypto and Oil If you thought that Bitcoin had had its day, think again: a month ago it stood at £4000 having spent the previous 3 months stuck at £3000. And now? £6000! While in no way advocating crypto we do spend some of our time asking why such a move has occurred? […]