DailyFX: Analyst picks October 28, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short dollar-yen, long Aussie-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks Yen crosses have been volatile this past week, and both my long Australian dollar-yen and short dollar-yen have seen an uptick in volatility – in the wrong direction [...]
Fed QE taper fears on hold for now October 21, 2013 But a subsequent rally in global equities may be short-lived given the lingering uncertainties Global equities traded close to five-year highs yesterday, in part buoyed by expectations of a delay to the Federal Reserve’s tapering of its quantitative easing (QE) programme. The MSCI world index rose 0.7 per cent before dropping slightly, and the FTSE [...]
CNBC Comment: Euro banks await critical stress tests October 21, 2013 EUROPE’S banks are facing one of their most difficult periods since the credit crisis began. Tomorrow the European Central Bank (ECB), is expected to outline the criteria for its Asset Quality Review (AQR). This is the highly-anticipated stress test of banks’ balance sheets, and will be the first time the ECB outlines just how stringent [...]
DailyFX: Analyst picks October 21, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short dollar-yen, long Aussie-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks My dollar-yen short remains viable, despite cooling US fiscal tensions, as the Fed is unlikely to taper in October. US yields should remain under pressure (if not capped). [...]
Abe’s absent arrow: Slow reform in Japan October 14, 2013 Despite hopes of a further rally, long-term worries abound Japan’s Nikkei 225 index enjoyed a strong rally last week, climbing from Tuesday’s low of less than 13,754 to almost 14,405 on Friday (markets were closed yesterday). While tied to volatility surrounding the US debt ceiling debate, these gains came amid news that Japanese machinery orders [...]
CNBC Comment: Stability isn’t saving emerging markets October 14, 2013 INVESTORS have remained remarkably sanguine, despite being just a couple of days from the 17 October date when the US Treasury says it will run out of money if the debt ceiling isn’t raised. Yes, volatility has spiked, and very short-dated credit has seen yields higher. But whatever last minute extension is crafted, everyone expects [...]
DailyFX: Analyst picks October 14, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short dollar-yen, waiting on Aussie-yen direction Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks Dollar-yen remains highly volatile and susceptible to further instability thanks to US fiscal deadlock – at a bare minimum, a short-term resolution to lift the debt [...]
More volatility expected as Republicans stand firm October 7, 2013 Liam Ward-Proud looks at the market implications of a continued stand-off in the US budget and debt ceiling debates AS THE US shutdown continues, with Republicans and Democrats also looking less likely to agree on raising the debt ceiling, markets are becoming increasingly jittery. The cost of insuring €10m (£8.45m) of one-year US Treasuries against [...]
CNBC Comment: Fresh concerns for America’s housing market October 7, 2013 BEN Bernanke and the US Federal Reserve have done all that mere mortals can do to repair the housing market post-financial crisis, but despite tarting up the mortgage industry like Cinderella for the ball, buyers are not jumping into the golden carriage to attend the best party ever staged. How can this be, when house [...]
DailyFX: Analyst picks October 7, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short dollar-yen from ¥97.75 Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks My long New Zealand dollar-dollar exposure was cut down at $0.8240 from $0.8165 for a modest 0.75 per cent gain, but my attention has shifted into “risk-off” FX [...]