Analysis: Currencies

EURO / US DOLLAR (EUR/USD): The euro retreats sharply

Recent geopolitical developments are reshuffling the pack and giving the dollar some breathing room. Not because of US economic expansion , but above all as a defensive move. On the one hand,...

Currencies: A big mess

The end of February saw a real shift in tone. This is no longer just an equity consolidation fuelled by sector rotation. It is a test of the macro regime itself, caught between tariffs swinging back...

Russia plans to divert more oil revenues to budget reserve fund and cut spending

MOSCOW, Feb 25 - Russia plans to divert more oil revenues into the budget reserve fund, Finance Minister Anton Siluanov said on Wednesday, following President Vladimir Putin's overnight meeting with...

Ex-BOJ chief Kuroda calls for rate hikes, tighter fiscal policy

TOKYO, Feb 25 - Japan must keep raising interest rates and tighten fiscal policy as the economy is already in great shape, former central bank chief Haruhiko Kuroda said, warning that Premier Sanae...

In surprise move, Japan's government taps two reflationists for BOJ board

TOKYO, Feb 25 - Japan's government on Wednesday nominated two academics seen by markets as strong advocates of economic stimulus to join the central bank's board, in moves seen reflecting the Takaichi...

Rupee ends flat, NDF maturity-linked dollar bids blunt modest inflows

MUMBAI, Feb 25 - The Indian rupee ended nearly flat on Wednesday as dollar demand spurred by maturing contracts in the non-deliverable forwards market blunted positive impulses from modest inflows and...

Japan's services inflation steady, signals wage-driven price pressure

TOKYO, Feb 25 - A leading indicator of Japan's services sector prices rose 2.6% in January from a year earlier, data showed on Wednesday, a sign rising wages from a tight labour market continued to...

ECB's Lagarde sticks with 'good place' mantra

FRANKFURT, Feb 23 - Euro zone inflation and the European Central Bank's interest rate policy remain in a good place, ECB President Christine Lagarde said on Monday, repeating her long standing...

Tariffs: how the White House tripped over its own feet

The White House loves to dramatise the stakes. But it is a double-edged strategy.

Global diesel flows further reshuffle on EU sanctions, discounted Russian exports, data shows 

NEW YORK/LONDON, Feb 23 - U.S. diesel exports to Europe hit an all-time high in January after the continent strengthened its ban on imports of Russian-derived fuel, and as discounted Russian diesel...

Winners and losers from Trump's new 15% global tariff

Feb 23 - The U.S. Supreme Court annulment of President Donald Trump's reciprocal tariffs justified on national emergency grounds and Trump's subsequent move to impose a temporary 15% global tariff...

Fed's Waller: January jobs data an upside surprise, if it continues a policy pause may be appropriate

WASHINGTON, Feb 23 - Federal Reserve Governor Christopher Waller said he was open to leaving interest rates on hold at the Fed's March meeting if upcoming February jobs data indicates the U.S. labor...

EURO / US DOLLAR (EUR/USD): Without a pivot, no salvation

For several months, the market had been operating on a simple script: solid growth, easing inflation, two rate cuts starting in June. However, the PCE has now complicated that equation. While most...

EU delays 'Made in Europe' plan after disagreements over scope

BRUSSELS, Feb 23 - The European Commission said on Monday it had delayed the announcement of a policy to prioritise industrial parts and products made in Europe by a week after disagreements over the...

Currencies: Tariffs, Act 2

Equities are consolidating because leadership is changing. The dollar is resisting because the Fed is not pivoting . The yen is hesitating because global stress is not taking hold. However,...

With US tariff rates up in the air, the economic fog again thickens

WASHINGTON, Feb 23 - U.S. and foreign officials, corporate executives, analysts and investors had begun to hope the tumultuous U.S. trade policy reversals of last year were finished. Now they face...

ECB's Lagarde receives 140,000 euros from BIS despite payment ban for ECB staff, FT reports

Feb 23 - European Central Bank President Christine Lagarde receives about 140,000 euros a year as a Bank for International Settlements board member despite an ECB ban on third-party payments to staff,...

Reaction to US Supreme Court ruling and Trump's new tariff threat

Feb 23 - U.S. President Donald Trump said he will raise a temporary tariff on U.S. imports from all countries to 15% from 10%, following a Supreme Court decision striking down a large swath of his...

Rupee edges up as local factors eat into US tariff ruling-driven gains

MUMBAI, Feb 23 - The Indian rupee eked out a gain versus the dollar on Monday, as hedging interest from importers and upcoming maturities in forward contracts undercut most of an early advance driven...