Tag Archive: BRICs

Holiday Moves Continue to be Unwound

2024-01-03

by

2024-01-03

Overview: The dollar is firm. Rates are mostly higher and equities lower. The moves scored in the holiday-thin markets are at end of last year are being unwound. This does not appear complete yet. Geopolitical tensions remain high but do not seem to be having a direct market influence as both gold and oil are trading lower. Among the G10 currencies, sterling has been the most resilient today but nearly flat. Within the emerging market complex, the...

Read More »

BRICS to Expand a Little, USD Steadies after Yesterday’s Retreat, Attention Turns to Jackson Hole

2023-08-24

by

2023-08-24

Overview: Strong Nvidia's earnings after the US markets closed yesterday helped lift Asia Pacific markets today. All the large bourses were higher but India. Hong Kong, South Korea, and Taiwan indices rose more than 1%. Europe's Stoxx 600 is higher for the fourth consecutive session and US index futures are higher, led by the NASDAQ. European benchmark bond yields have extended yesterday's PMI-induced decline and are mostly 1-2 bp lower. The...

Read More »

Euro and Sterling Slump on Poor PMI

2023-08-23

by

2023-08-23

Overview: Poor European flash PMI pushed on open door, giving the market a new reason to do what it was doing and that buying the dollar. The euro has approached important support around $1.08 and sterling is approaching the lower end of its two-cent trading range (~$1.26-$1.28). The greenback is consolidating against the yen and holding above JPY145. The Chinese yuan is little changed while the Mexican peso is extending yesterday's gains. Despite...

Read More »

The demise of the dollar: What comes after that?

2023-07-03

by

2023-07-03

Part I of II Endless ink has been spilled by economists and financial analysts in their efforts to predict the impact of de-dollarization. As might be expected, most of those who embrace a US-centric view of the world and who defend the status quo paint a gloomy picture. They warn of the nightmarish consequences of a Russia- and China-dominated world order, of the threats to freedom and to human rights that this could pose and of a potential...

Read More »

Russia, China and BRICS: A New Gold Trading Network

2017-12-12

by

2017-12-12

Deputy Governors
One of the most notable events in Russia’s precious metals market calendar is the annual “Russian Bullion Market” conference. Formerly known as the Russian Bullion Awards, this conference, now in its 10th year, took place this year on Friday 24 November in Moscow. Among the speakers lined up, the most notable inclusion was probably Sergey Shvetsov, First Deputy Chairman of Russia’s central bank, the Bank of Russia.

Read More »

Global Stocks Rise On “Growth Optimism”, Ignore Political Turmoil; Dollar, Oil Creep Higher

2017-07-31

by

2017-07-31

Stoxx Europe, Aug 2016 - 2017
S&P futures rose 0.1% on the last trading day of the month, trailing European and Asian markets boosted by China’s July Mfg. PMI, which despite declining from from 51.7 to 51.4, and missing expecations  of 51.5, saw the construction index rise to its highest level since December 13, sending Chinese iron ore futures surging and … Continue reading »

Read More »

Euro Saves Germany, Slaughters the PIGS, & Feeds the BLICS

2017-04-06

by

2017-04-06

European Population vs. Total Europe Energy Consumption
The change in nations Core populations (25-54yr/olds) have driven economic activity for the later half of the 20th century, first upward and now downward. The Core is the working population, the family forming population, the child bearing population, the first home buying, and the credit happy primary consumer. Even a small increase (or contraction) in their quantity drives economic activity magnitudes beyond what the numbers would indicate.

Read More »

Nomi Prins’ Political-Financial Road Map For 2017

2017-01-05

by

2017-01-05

2017 Just Ahead
As tumultuous as last year was from a global political perspective on the back of a rocky start market-wise, 2017 will be much more so. The central bank subsidization of the financial system (especially in the US and Europe) that began with the Fed invoking zero interest rate policy in 2008, gave way to international distrust of the enabling status quo that unfolded in different ways across the planet.

Read More »

Dollar Illiquidity Getting Critical: A $10 Trillion Short Which The Fed Does Not Understand

2016-11-17

by

2016-11-17

Dollar Index vs G7 Inflation
In the latest report from ADM ISI’s strategy team, “Dollar Liquidity Threat is Getting Critical and Fed is M.I.A.”, Paul Mylchreest argues that mainstream economic luminaries (like Carmen Reinhart) are finally acknowledging the evolving crisis due to the dollar shortage outside the US, a topic which even the head researcher at the BIS shone a spotlight on yesterday suggesting that the strength of the dollar, not the VIX is the new "fear...

Read More »