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Another abysmal bond auction in Europe has driven the euro to a fresh 7 week low against the U.S. dollar. This morning, Italy sold six month bills at a record yield of 6.5 percent and zero coupon... read more »
Can you name the developed country that hasn’t experienced a recession in close to 20 years? It’s Australia. And not only did the land “down under” weather the dot-com disaster that... read more »
As indicated in yesterday's afternoon commentary, don't mistake the rally in the U.S. dollar for renewed optimism in the U.S. economy. For many reasons, the recovery in the greenback was expected... read more »
It may be a quiet morning in the foreign exchange market but it is a busy week for many countries around the world including the commodity producing countries such as Canada, Australia and New... read more »
From GoldCoreJapan Megaquake and Tsunami - Gold Mixed as Yen Surges against All CurrenciesThe massive earthquake and tsunami that has rocked Japan is being digested by markets and the economic... read more »
Part 1. Will Europe face defaults? Its official – Spain and Portugal will need to be bailed out soon. How do I know? In one of my favorite TV shows, Yes Minister, the all-knowing civil servant... read more »
The breathless pursuit of stocks has now led to a complete dislocation of all correlation pairs. The ES is about 7 points rich to AUDJPY and the historical correlation with the 2s10s30s butterfly is... read more »
One of the more notable 2010 "highs" achieved recently (and in a year when pretty much every metric is trading at or near all time highs, thanks to the Fed becoming the primary market maker... read more »
The AUDUSD tested the 38.2% of the last leg of the trend move higher at the 0.9826 level (low reached 0.9825). The ability to hold the level is a good sign for dip buyers. A move back... read more »
Yesterday I said that there were reasons why the Big Four Australian Banks were seeking to increase their rates: bottom line, there is a crisis in the making. To understand why, we need to be aware... read more »
