Weak krone probably suits Norges bank
Aug 12, 2015 08:47 am UTC| Commentary
Both oil and the Norwegian krone have shown a steep fall. This may well suit Norges Bank, because lower interest rates in an environment of great uncertainty (timing of Fed rate hike, economic developments in the main...
No Greek chaos this time round
Aug 12, 2015 08:04 am UTC| Commentary
The experts from the extended troika (The ECB, the EU Commission, the IMF and now also the ESM) appear to have reached a basic agreement at technical level with the Greek government on a new aid package. Only a few details...
Will sterling investors stop sulking soon?
Aug 12, 2015 07:47 am UTC| Commentary
The UK June labour-market data are due out, whereby the main interest will be not so much the unemployment rate as average earnings. The BoEs prediction that inflation will reach the 2% target within two years is after...
PBoC set CNY fixing rates lower again
Aug 12, 2015 07:39 am UTC| Commentary Central Banks
PBoC spiked the USD-CNY fixing rate by another 1008pips, or 1.62% this morning to 6.3306. The fixing rate is 0.09% weaker than yesterdays closing. The offshore CNH breached above 6.50 this morning after the CNY fixing,...
USD-BRL moved back towards 3.50
Aug 12, 2015 07:29 am UTC| Commentary
Yesterdays BRL performance illustrates why things are likely to get an awful lot worse for the real before they get better. On the day when China deliberately weakened its currency (an action which implicitly points to an...
TRY gains as G10 yields, commodity prices retreat
Aug 12, 2015 07:13 am UTC| Commentary
USD-TRY has declined by a solid 1% since reaching a high of near 2.80 earlier this week. This seems as a reflection of 1) the sharp pullback in G10 yields this week, and 2) falling oil and commodity prices, which help...
Czech Koruna: 6-12 Month Outlook
Aug 12, 2015 06:47 am UTC| Commentary
In the past month, EUR/CZK has hit its lowest level of 27.006 since November 2013 and insisted the CNB to interven on the FX market. Any risk of a slump in euro areas data is likely to increase FX interventions. RBC...