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Thursday, June 6, 12:28 PM
Unusual given past patterns, the dollar (UUP -1.7%) is being unloaded across the board and in size along with stocks selling off. The euro (FXE +1.5%), cable (FXB +1.8%), the yen (FXY +3.1%), the aussie (FXA +1.1%), and the loonie (FXC +1.3%) are all sharply higher vs. the greenback. The Dow's now off 86 points.
14 Comments[Global & FX, On the Move]
Thursday, June 6, 10:55 AM
Europe turns decidedly lower, the Stoxx 50 now off 0.8% following Mario Draghi's press conference, with markets perhaps deciding to punish his somewhat smug performance: "OMT has probably been the most successful monetary measure for some time." - a curious statement considering it doesn't yet exist and Draghi admitted the legal paperwork isn't complete. Leading to the downside is Italy (EWI), tumbling 2.3%. The euro (FXE) continues to rise, +0.7% to $1.3182.
1 Comment[Global & FX, On the Move]
Thursday, May 16, 11:34 AM
The euro tumbles about 30 pips as European Industry Commissioner Antonio Tajani tabs the currency as too strong and calls on the ECB to manage its level to better-help exports. FXE now up just 0.1%.
Comment![Global & FX, On the Move]
Thursday, May 9, 3:06 PM
The dollar (UUP +1%) is soaring across the board (not just against the yen, where it's now spiked through ¥100 to ¥100.56). The greenback is threatening parity vs. the aussie (FXA -1.1%) for the first time since last summer, and the euro (FXE -1.1%), swissie (FXF -1.4%), loonie (FXC -0.5%), and pound (FXB -0.6%) are seeing sizable declines as well. Commodities? Red. Gold (GLD -1.1%), Silver (SLV -1.2%), Oil (USO -0.6%), Copper (JJC -0.8%).
5 Comments[Global & FX, Commodities, On the Move]
Monday, May 6, 10:44 AM
The euro (FXE -0.4%) tumbles as Mario Draghi - in prepared remarks in Rome - says the ECB is ready to act again in coming weeks. The comments are not a whole lot different than what he said post-rate cut at his press conference last Thursday.
1 Comment[Global & FX, On the Move]
Thursday, May 2, 9:16 AM
It tells you all you need to know, says Danske's Owen Callan, that the ECB would consider negative deposit rates rather than buying government paper. Draghi saying he has an "open mind" on negative deposit rates looks to be what sent the euro tumbling about 100 pips on one 5-minute bar. FXE -0.6% premarket.
5 Comments[Global & FX, On the Move]
Thursday, May 2, 9:07 AM
"There was a very strong prevailing consensus towards an interest rate cut," says Draghi, now taking questions at his press conference. The answer suggests the vote wasn't unanimous (Weidmann?). As Draghi points to higher stock prices as one measure of the ECB's success, markets turn tail, the Stoxx 50 (FEZ) now off 0.5%, and the euro (FXE) really tumbling, -0.8%.
1 Comment[Global & FX, On the Move]
Tuesday, April 23, 5:35 AMEuropean equities climb following mixed eurozone PMI data, with German shares just about brushing off poor PMI readings for the country, although the euro falls vs the dollar. EU Stoxx 50 +0.8%, London +0.5%, Paris +1.2%, Frankfurt +0.1%, Milan +0.7%, Madrid +1%. Euro -0.7% at $1.2979.
1 Comment[Global & FX, Top Stories, On the Move]
Wednesday, April 17, 10:38 AM
Smoking the euro (FXE -1%) but offering no help to European stocks (FEZ -3%) is the ECB's (and Germany's) hawkish Jens Weidmann suggesting the central bank could slash rates if punkish economic data keeps rolling in. He brushes aside the idea the region's debt crisis is anywhere near over. "The calm that we are currently seeing might be treacherous."
3 Comments[Global & FX, On the Move]
Wednesday, March 27, 8:06 AM
The euro's (FXE) continued sharp decline - off nearly 10 big numbers since early February - has the bears feeling their oats. Guggenheim's Scott Minerd - burned badly shorting the common currency in 2011 - says he got short again at $1.34 and sees the euro going to parity with the greenback as the ECB will eventually have to buy up peripheral government debt.
1 Comment[Global & FX, On the Move]
Thursday, March 21, 11:50 AM
Down sharply not long ago, a bit of green creeps into European indexes with a reported plan to shut down Cyprus' Popular Bank and break it up into good and bad banks, as well as the split of Laiki Bank making the rounds. All deposits under €100K would reportedly be guaranteed. Italy (EWI) goes positive, as does the euro (FXE). The Stoxx 50 (FEZ) cuts its loss to 0.6%, the S&P (SPY) now down just 0.3%.
Comment![Global & FX, On the Move]
Wednesday, March 20, 8:13 AM
A deal has reportedly been reached for a group of Russian investors to buy one of Cyprus' banks for €4B. If so, it would greatly reduce the country's financing needs. The euro (FXE) moves about 40 pops higher, and European shares (FEZ) add nearly 1% to their gains. SPY at session highs, +0.6% premarket. Update at 8:35: A Cyrpus government spokesman is denying any such deal.
25 Comments[Breaking News, Global & FX, On the Move]
Wednesday, March 20, 5:08 AM
Is this what crisis fatigue looks like? European shares are solidly higher despite Cyprus throwing the eurozone back into all sorts of uncertainty as it seeks to avoid economic collapse. Traders reckon that because the sums involved are relatively small, a solution will be found. EU Stoxx 50 +0.7%, London +0.4%, Paris +0.8%, Frankfurt +0.6%, Milan +0.4%, Madrid +0.4%. The euro is flat vs the dollar, gold is -0.1%, oil +0.4%.
3 Comments[Global & FX, Top Stories, On the Move]
Tuesday, March 19, 12:04 PM
Stocks turn decidedly lower as Cyprus' ruling party will apparently abstain from the bailout vote, thus assuring its failure. The ball now moves back to Brussels, where the ECB has threatened to withhold funding from Cyprus' banks if the bailout (and depositor haircut) isn't passed. Stoxx 50 (FEZ) -1.5%, S&P 500 (SPY) -0.5%, the euro (FXE) -0.5%.
41 Comments[Global & FX, On the Move, Top Stories]
Monday, March 18, 2:57 AMAsian shares fall sharply following news of the raid on bank deposits in Cyprus as part of the island's bailout. The planned move also sends the euro and oil lower, while the yen regains its safe-haven status. Japan -2.7%, Hong Kong -2.4%, China -1.5%, India -0.9%. Euro -1.3% vs the dollar, -1.3% vs the pound, -2.2% vs the yen and -0.6% vs the Swiss franc. The yen is also +0.9% vs the dollar. WTI -1.2%, gold +0.3%.
Comment![Global & FX, Top Stories, On the Move]
Sunday, March 17, 7:30 PM
Crisis on. S&P 500 futures -1% and the euro -1.2% as Brussels "faced with a drowning member state, instead of throwing the Cypriot people a lifebuoy, (throws) a millstone around its neck." EU leaders risk triggering bank runs in Cyprus (and elsewhere?) by going after bank depositors to fund the country's bank bailout.
117 Comments[Global & FX, Top Stories, On the Move]
x oil -field Blockupy,activist group that emerged from Occupy Wall Street protests. http://bit.ly/17JrOip $FXE The ECB = Enslavement Of The People.JMHO
x oil -field: Eurozone unemployment 12.2% in April,with an eye-watering 19.4M people without a job.The enslavement of 'the people' thank you [not] Merkel.
x oil -field: Did the Fed tighten while we were getting*a cup of coffee..?The greenback is soaring against all other currencies. http://bit.ly/Z1athm $FXE
x oil -field: Eurozone unemployment 12.2% in April,with an eye-watering 19.4M people without a job.The enslavement of 'the people' thank you [not] Merkel.
x oil -field: Merkel Tells Hollande Reform Is Price of Deficit Waiver. $FXE Bloomberg http://bloom.bg/16vgNAU ''The Iron Maiden'' Raises Her Head Again.
x oil -field: Did the Fed tighten while we were getting*a cup of coffee..?The greenback is soaring against all other currencies. http://bit.ly/Z1athm $FXE
x oil -field EZ Economic output contracted for 6th quarters,slight recovery in Germany failed to offset recessions in Fr ~ Italy.Dow Jones Newswires $FXE
x oil -field: As it tries to play Russia off against EU to salvage economy,Cyprus has embarked on high-stakes geopolitical poker game.http://bit.ly/ZzFENf
Mar 21, 6:54 AM
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Pendulum Reuters: "Situation in Cyprus,its banking sector "unique"ECB's Asmussen," supports thesis re Draghi Put $FXE see latest article