RCEP trade pact is signed after years of negotiations
Fifteen countries that make up nearly a third of the world's population and gross domestic product have formed the world's largest trading bloc.The Regional Comprehensive Economic Partnership, or RCEP, was
Seekingalpha · 11/15 12:56
Greenback Stabilizes
The dollar is consolidating yesterday's losses.Equities are lower, and benchmark yields are little changed.The S&P 500 is trading a little lower following yesterday's 0.2% decline.Gold rose almost 1% yesterday, the most in a couple of weeks, on the back of the weaker dollar.WTI for December delivery slumped 4% yesterday and slipped below the $40-mark and straddled today.
Seekingalpha · 10/22 11:32
Dollar Slumps As Yields Rise
The dollar is falling against most of the world's currencies today.Sterling and the Norwegian krone are leading the majors higher.The Chinese yuan extended its gains and is now at the best level since July 2018.In Asia, most of the large markets gained, but China, India, and a handful of smaller bourses were sold.Europe's Dow Jones Stoxx 600 is off for the third day and the sixth session in the past seven.
Seekingalpha · 10/21 12:02
Sterling And Yuan Resilience, While Rate Differentials Aid Dollar
The US dollar rose against nearly all the major currencies last week. The yen was the sole exception.Of the majors, the Australian dollar suffered more than a 2% decline following the strongest signals to date that that Reserve Bank of Australia will do more to support the economy.However, it is still a question of precisely what it will do.
Seekingalpha · 10/18 17:03
CAD/JPY Faces A Risky Winter, But Upside Could Be Found As Canada Rebounds
CAD/JPY tumbled harshly in Q1 2020 on the back of collapsing risk sentiment and lower oil prices.However, while Canadian GDP growth sank more aggressively than Japan's, real yields are, in fact, stable, and oil prices are off their lows.While oil prices are struggling to gain further ground (still down by a third since the start of the year), a simply stable backdrop will support CAD.CAD has already regained its lost ground against USD. CAD/JPY may also return to its recent heights in 2019, yet the winter months must first pass.The world is currently facing a second wave of COVID-19. Longer term, there is plenty of reason to buy CAD/JPY. Near term, there are large risks.
Seekingalpha · 10/12 09:02
Animal Spirits Return
Chinese markets re-opened with a bang. Shanghai led the Asia Pacific bourses higher with a 1.7% gain, and the onshore yuan rose 1.1%.Gold has rallied more than 1% today to about $1916, putting it within striking distance of the week's high set on October 6 near $1921.The US economic calendar is light, featuring the final wholesales inventory report for August and the Fed's Barkin speaks to a regional Chamber of Commerce before the equity market opens.
Seekingalpha · 10/09 11:43
Sterling's Resilience Stands Out
A week ago, the dollar's technical condition suggested there was potential for one more push higher in the correction that began on September 1.However, instead, the dollar fell against all the major currencies and many emerging market currencies as well.Many Asian markets were closed for several days last week, but Europe's Dow Jones Stoxx 600 finished about 1.5% higher, and the US S&P 500 snapped a four-week decline.
Seekingalpha · 10/04 17:54
Hope Springs Eternal
An announcement is expected shortly from Japanese officials about equity trading tomorrow.South Korean September trade figures point to a continued recovery.Reports suggest the US will initiate a 301 trade investigation into Vietnam.The dollar is firm against the yen but is less than a 25-tick range above JPY105.40.The euro is firm, but it is holding below the $1.1765 area.
Seekingalpha · 10/01 12:54
Consolidation Still Featured
A consolidative tone continues across the capital markets. Equities have lost their momentum.The dollar is in narrow ranges, mostly a bit softer, led by the Antipodeans and British pound, which has been resilient in recent days.The liquid accessible emerging market currencies, like the Russian rouble, Turkish lira, South African rand, and Mexican peso are heavy, and the JPMorgan Emerging Market Currency Index is off for the third consecutive session and for the seventh session in the past eight.
Seekingalpha · 09/29 14:35
Darkest Before Dawn
China continues to harass Taiwan with incursions into its air defense zone. The bullying practice has escalated in the past week or so.European banks took 174.5 bln euros from the ECB's latest Targeted Long-Term Refinancing Operation.In the UK, Chancellor Sunak canceled the fall budget and is expected to present a new jobs support program to Parliament today.
Seekingalpha · 09/24 11:34
Trying To Find Solid Ground
Japan's preliminary September PMI was little changed from October, and the composite remained below the 50 boom/bust level.The French PMI showed a similar pattern to the German report, but a bit worse.The US preliminary PMI is expected to follow the European pattern of a continued recovery in the manufacturing sector and some softness in services.
Seekingalpha · 09/23 11:14
Turnaround Tuesday?
The S&P 500 tumbled for its fourth consecutive, the longest losing streak since February. The dollar strengthened broadly.Asia Pacific shares were lower, led by a 2.4% decline in South Korea and around a 1% loss in China and Taiwan.Gold held yesterday's low near $1882.50. Last month's low was nearer $1863. It is poking above $1900 in Europe.November WTI slipped below $39 a barrel yesterday but has remained above there today and is testing the $40 area.
Seekingalpha · 09/22 11:03
Risk Appetites Join Tokyo On Vacation
Not surprisingly, China's Prime Loan Rate was left unchanged for the fifth consecutive month at 3.85% and 4.65%, respectively, for the one and five-year benchmarks.S&P is concerned that Spain's political climate may struggle to pass the 2021 budget and continue to press ahead with reforms.Sterling encountered offers over the last three sessions around $1.30, and today it has been sold down to $1.2835.
Seekingalpha · 09/21 12:13
EUR/JPY Finds Support With Positive Risk Sentiment, But Yen Remains Attractive
EUR/JPY has rallied, yet the Japanese yen remains attractive as a hedge against present and continued global uncertainties. Risk sentiment has no doubt helped the euro to beat the Japanese yen in recent weeks, but the upside may be short-lived, even if risk sentiment remains positive. Japan GDP growth technically out-performed the euro area this year. Meanwhile, the euro area is now flirting with deflation, which is not presently a problem for Japan. Furthermore, while EUR/JPY might be trading at a discount to fair value (using a long-term PPP model), I believe the current uncertainties that lie before us (including Brexit, which remains a risk to the euro area, not to mention COVID-19) could help to support an even stronger JPY premium. As head into the U.S. elections and the Brexit deadline at year-end, not to mention the new year in which fiscal interventions begin to unwind (and reveal which economies have been "swimming naked", to reference Buffett), the Japanese yen seems like a safe place to park capital.
Seekingalpha · 09/20 21:20
Powell Lets Steam Out Of Equities And Spurs Dollar Short-Covering
The Fed signaled rates would likely not be hiked for the next three years, and without additional measures, that appears to be the essence of the switch to an average inflation target.As widely expected, the BOJ did not alter its stance or its bond-buying operations.The US dollar is near the best levels of the month against the Canadian dollar. It rose to almost CAD1.3250 earlier today.
Seekingalpha · 09/17 11:53
USD/JPY: Long-Term Bias Remains Bearish
USD/JPY has traded steadily over recent years, but has dragged lower in spite of initially favorable interest rate spreads.It appears that interest rates do not matter so much to USD/JPY in modern times.Having said this, the recent crash in U.S. rates (while Japan's short-term rate has held steady) is certainly not supportive for USD/JPY.Meanwhile, a Purchasing Power Parity model indicates that USD/JPY is either fairly valued or slightly overvalued, and judging by history it is more likely than not that USD/JPY has more room to fall.These points, combined with the fact that Japanese terms of trade have substantially outperformed U.S. terms of trade this year, would support the case for a bearish bias for USD/JPY over the medium to long term.
Seekingalpha · 09/12 12:09
A Strong Yen Portends Suffering For Japanese Exporters
Seeking Alpha - Article · 08/01 08:55
Greenback's Bounce Is Likely Short-Lived
Seeking Alpha - Article · 07/30 11:20
NZD/JPY: Downside Risk Remains In Spite Of Recent Upside
Seeking Alpha - Article · 07/28 01:04
Dollar Slide Continues, While Gold Soars
Seeking Alpha - Article · 07/27 11:23
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