Tag Archive: France

US Holiday Facilitates Consolidative Tone

2022-06-20

by

2022-06-20

Overview: Most equity markets in the Asia Pacific region lost ground today. China’s Shenzhen, Hong Kong, and India were notable exceptions.

Read More »

Dollar Jumps, Stocks and Bonds Slide

2022-06-13

by

2022-06-13

The prospect of a more aggressive Federal Reserve policy has spurred a sharp sell-off in global equities and bonds and sent the dollar sharply higher. The large Asia Pacific bourses were off mostly 2%-4%.

Read More »

China’s Covid Sends Commodities Lower and helps the Dollar Extend Gains

2022-04-25

by

2022-04-25

Overview:  Fears that the Chinese lockdowns to fight Covid, which have extended for four weeks in Shanghai, are not working, and may be extended to Beijing has whacked equity markets, arrested the increase in bond yields, and lifted the dollar. 

Read More »

The Yen Bounces after 13-Day Slide and BOJ Defends Yield Cap

2022-04-20

by

2022-04-20

Overview: The record-long yen slide has stalled just shy of JPY129.50, even though the Bank of Japan defended its Yield-Curve Control cap on the 10-year bond and will continue to do so for the next four sessions. The greenback fell to almost JPY128 before steadying.  China again defied expectations for lower rates (loan prime rate), the yuan's sell-off accelerated and slide to its lowest level since last October.

Read More »

Binance Sets up at Paris’ STATION F to Develop the Web.3 Ecosystem in Europe

2022-04-14

by

2022-04-14

Binance, a global blockchain ecosystem and cryptocurrency infrastructure provider, announced the opening of its space in at the startup campus STATION F in Paris.

Read More »

Swiss Blockchain Startup Wecan Chooses France for Its Expansion

2022-03-11

by

2022-03-11

Wecan Group SA, a Swiss Blockchain software provider used  Swiss private banks, is favoring an expansion in France for its internationalization. Behind this choice: an investment from Michel Reybier, owner of La Réserve hotels, and a selection in the Swave program, an initiative of the French government to attract the most promising fintechs in France.

Read More »

As The Fed Seeks To Justify Raising Rates, Global Growth Rates Have Been Falling Off Uniformly Around The World

2022-01-08

by

2022-01-08

Sentiment indicators like PMI’s are nice and all, but they’re hardly top-tier data. It’s certainly not their fault, these things are made for very times than these (piggy-backing on the ISM Manufacturing’s long history without having the long history). Most of them have come out since 2008, if only because of the heightened professional interest in macroeconomics generated by a global macro economy that can never get itself going.

Read More »

FX Daily, November 9: Falling Yields Give the Yen a Boost

2021-11-09

by

2021-11-09

Overview: Reports that the Fed's Brainard was interviewed for the Chair helped soften yields a bit, not that they needed extra pressure, on ideas she is more dovish than Powell.  In turn, the lower yields saw the yen rise to its best level in nearly a month and led the major currencies higher against the dollar. 

Read More »

US-EU Rapprochement, Can France and UK Do the Same?

2021-11-01

by

2021-11-01

Overview:  It is mostly a quiet start to the new month.  Most of Europe is closed for the All -Saints holiday and the week's key events start tomorrow with the Reserve Bank of Australia meeting.  News that the Liberal Democrats retained a majority in the lower chamber of the Diet helped lift Japanese indices by 2%.  Most of the large regional markets gained, though China and Hong Kong markets fell. US index futures are trading with a higher bias...

Read More »

Soaring Energy Prices Lift Yields, Weigh on Equities and the Greenback Pops

2021-09-28

by

2021-09-28

Overview: Rising energy prices and yields are helping lift the US dollar and weighing on equities.  November WTI has pushed above $76, while Brent traded above $80, and natural gas is up for the fourth consecutive session, during which time it has risen by about 25%. 

Read More »

Risk Appetites Didn’t Return from the Weekend

2021-09-20

by

2021-09-20

Overview: Investors' mood did not improve over the weekend, and the lack of risk appetites are rippling through the capital markets today.  Equities have tumbled, yields have backed off, and the dollar is well bid.  Hong Kong and Australia led the sell-off in the Asia Pacific region, off 3.3% and 2.1%, respectively. 

Read More »

FX Daily, June 21: Dollar Surge Stalls

2021-06-21

by

2021-06-21

Pressure on equities seen last week carried over into Asia and Europe today. The MSCI Asia Pacific Index fell for the fourth consecutive session, led by more than a 3% decline in the Nikkei. Australia, Taiwan, and Hong Kong bourses fell by more than 1%. European equities opened lower, but have turned higher.

Read More »

FX Daily, January 08: Can the Dollar Find Traction Even if the Employment Data Disappoint?

2021-01-08

by

2021-01-08

The global equity rally picked up this week as it closed in 2019. The MSCI Asia Pacific Index gained today and is up in nine of the past 10 sessions. It has fallen only in one week since the end of October. South Korea's Kospi led today's advance with a nearly 4% rally on the back of talks that were later played down between Hyundai and Apple. 

Read More »

FX Daily, September 3: Corrective Forces Maintain Grip

2020-09-03

by

2020-09-03

The US dollar is continuing to recover after hitting new lows earlier in the week. It is lower against all the major currencies and most of the emerging markets. A report in the Financial Times suggesting that there is a concern about the euro's recent strength at the ECB has added a bit more fuel to the move, and the euro, which had pushed above $1.20 earlier in the week, briefly traded below $1.18. 

Read More »

FX Daily, June 25: Contagion Growth and Calendar-Effect Saps Investor Enthusiasm

2020-06-25

by

2020-06-25

Given the huge run-up in risk assets this quarter, and the technical indicators warning of corrective forces, concerns over the new infections is pushing on an open door. The S&P 500 gapped lower yesterday and fell 2.6%, led by energy and airlines. The NASDAQ snapped an eight-day rally. Follow-through selling in the Asia Pacific region saw most markets fall at least 1%, with Korea and Australia seeing losses in excess of 2%.

Read More »

FX Daily, June 15: Unwind Continues

2020-06-15

by

2020-06-15

Overview: The swing in the pendulum of market sentiment toward fear from greed began last week and has carried over into today's activity.  Global equities are getting mauled.  In the Asia Pacific region, no market was spared as the Nikkei's 3.5% drop, and South Korea's 4.7% fall led the way.  In Europe, the Dow Jones Stoxx  600 is recovering from a more than two percent early loss,  as it drops for the fifth time in the past six sessions.

Read More »

The global economy doesn’t care about the ECB (nor any central bank)

2020-05-14

by

2020-05-14

Europe Industrial Production, 1991-2020
The monetary mouse. After years of Mario Draghi claiming everything under the sun available with the help of QE and the like, Christine Lagarde came in to the job talking a much different approach. Suddenly, chastened, Europe’s central bank needed assistance. So much for “do whatever it takes.”They did it – and it didn’t take.Lagarde’s outreach was simply an act of admitting reality.

Read More »

European Data: Much More In Store For Number Four

2020-02-18

by

2020-02-18

European Economy, 2016-2019
It’s just Germany. It’s just industry. The excuses pile up as long as the downturn. Over across the Atlantic the situation has only now become truly serious. The European part of this globally synchronized downturn is already two years long and just recently is it becoming too much for the catcalls to ignore. Central bankers are trying their best to, obviously, but the numbers just aren’t stacking up their way.

Read More »

As the Data Comes In, 2019 Really Did End Badly

2020-02-12

by

2020-02-12

Europe Industrial Production, 2007-2019
The coronavirus began during December, but in its early stages no one knew a thing about it. It wasn’t until January 1 that health authorities in China closed the Huanan Seafood Wholesale Market after initially determining some wild animals sold there might have been the source of a pneumonia-like outbreak. On January 5, the Wuhan Municipal Health Commission issued a statement saying it wasn’t SARS or MERS, and that the spreading disease would be...

Read More »

Lagarde Channels Past Self As To Japan Going Global

2019-12-14

by

2019-12-14

Europe Industrial Production, 1993-2019
As France’s Finance Minister, Christine Lagarde objected strenuously to Ben Bernanke’s second act. Hinted at in August 2010, QE2 was finally unleashed in November to global condemnation. Where “trade wars” fill media pages today, “currency wars” did back then. The Americans were undertaking beggar-thy-neighbor policies to unfairly weaken the dollar.

Read More »