Key takeaways from ECB actions

Dec 04, 2015 09:50 am UTC| Commentary Central Banks

ECBs punitive actions yesterday, to just reduce rates by 10 basis points and six months extension baffled market participants and analysts (including us), all around globe, leading to massive short covering in Euro, which...

Renminbi Series

China’s FX reserves likely resumed decline in November

Dec 04, 2015 09:37 am UTC| Commentary

Chinas Foreign Reserve is expected to be USD 3482.5 billion as per the market consensus in the month of November. In October, the FX reserves were USD 3525.5 bn. Chinas FX reserves probably resumed its decline in...

Currency War Series

Russia's CBR to cut rates again to support the tumbling economy?

Dec 04, 2015 09:28 am UTC| Commentary Central Banks

Ruble came under increased pressure again over last week. USD-RUB, being at 68, previous highs of 2015 as in January, February and August are not far away, which is more than inconvenient for the central bank. CBR would...

Renminbi Series

CNY-CNH spread under pressure

Dec 04, 2015 09:14 am UTC| Commentary Technicals

Chinas central bank has lowered CNY-CNH spread by 131pps to 6.3851, to a two-week low. There were strong USD longs in onshore market as the lower fixing rate helps the corporates which need to hedge/unwind short USD...

Lower commodity prices to reflect in Turkey's mild inflation moderation next year

Dec 04, 2015 09:06 am UTC| Commentary

Because of the significant deal between Turkey and EU last week, the lira climbed for much of this week, but reversed its course yesterday after the lower than expected November CPI data, specifically after the ECBs...

Why the hawks reigned at ECB meeting?

Dec 04, 2015 09:02 am UTC| Commentary Central Banks

It is quite clear from European Central Banks (ECB) much smaller than expected stimulus yesterday, that hawks might have reigned the ECB meeting. Bundesbank president, Jens Weidmann is much known hawk, who had expressed...

EU, Facebook, Google, Microsoft Come Together To Tackle Online Extremism

Dec 04, 2015 08:51 am UTC| Commentary Technology

EU Internet Forum is the latest initiative of the European Union to bring together governments, Europol and tech companies to counter terrorist content and hate speech online. The aim is to reach a joint, voluntary...