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17 Apr 2024

The YEN is COLLAPSING and Abenomics has taught us some lessons:

After years of money printing, Yen now trades to 155 against USD: -32% against USD since 2021, -50% since 2012 The Bank of Japan has been buying over half of the national debt with freshly created yen, plus a bunch of other securities. But there is a price to pay after all: the destruction of the currency: Source Wolfstreet

11 Apr 2024

If technical analysis works on this chart, the yen might see considerable more weakness againt dollar in the coming weeks...

Source: Ole S Hansen

9 Apr 2024

Bearish Bets against the Japanese Yen reach highest level in 17 years

Source: Barchart, Bloomberg

21 Mar 2024

SNB cut rates against market expectations

Swiss National Bank cut the policy rate by 25 BPS to 1.50%. USDCHF and EURCHF both jumped by more than one figure to 0.8970 and 0.9780 respectively. Market was only pricing in a 35% probability of this cut.

21 Mar 2024

FED holds benchmark rate, May cut remains unlikely

The US Federal reserve holds benchmark rate in 5.25-5.5% target range. Jerome Powell prepared remarks and Q&A answers were more dovish than during the January meeting. FOMC median forecast remains at 75 BPS rate cuts for 2024, but the forecast increased from 3.6% to 3.9% in 2025.
Gold reacted to Powell's dovish tone by jumping to a new record high and breaking the 2200 level.

Source: Bloomberg

13 Mar 2024

Nice one by Barclays...

The CNY's share of cross-border payments has overtaken the USD Source: Ronnie Stoeferle, Barclays, Bloomberg

7 Mar 2024

Japan | Yen Gains With Bank Stocks as Wages, BOJ Remarks Boost Hike Bets – Bloomberg

The yen climbed to a one-month high and Japanese bank shares rose after wage data and a Bank of Japan board member’s remarks bolstered speculation the authority will raise interest rates this month. Japanese government bonds extended their drop as data from an auction of 30-year debt indicated weak investor demand for long-maturity securities ahead of the expected BOJ shift. Policy-sensitive two-year notes also fell, with their yield climbing to 0.195%, the highest level since 2011.

7 Mar 2024

The Egyptian Pound is down 37% against the USD after switching to a flexible exchange rate

Source: Barchart

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