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Fed Discount Rate Cut As Early As Monday
2007-12-03 15:03:00 If you missed Friday’s whispers of a Fed discount rate cut for Monday , then surely by now one is hearing it loud and clear from the market or read the Guha story in today’s FT. Why a discount rate cut now? Because Friday saw quality bank names paying up for turn money (turn of the ... More About: Federal Reserve , Early , Discount , Rate
Credit Crunch Fallout?..UK Remains More Exposed than Most
2007-11-29 22:44:00 The UK looks more like the US than any other European economy (maybe more like the US than any other economy, period). It has: An exceptionally low household savings rate - not far from zero if you exclude savings done by companies on behalf of households when they pump more cash into corporate pension schemes. A very ... More About: Credit , Fundamental Analysis , Crunch , Fallout , Mains
UAE revaluation as early as Sunday
2007-11-28 13:09:00 With speculation mounting that Gulf currencies will be revalued after next Monday’s meeting of GCC central banks, Arabian Business has learned that the UAE central bank could make an announcement as early as Sunday . Sources close to the central bank suggest a 3-5% revaluation of the dirham to the dollar is on the cards - bringing ... More About: Early , Valuation
UAE raises expectations it will drop dollar peg
2007-11-28 08:44:00 The UAE central bank on Tuesday revamped its monetary policy tools and said it would take its first euro deposits from local banks, after raising market expectations it could swap its dollar peg for a currency basket. The central bank will replace its daily sale of fixed-rate certificates of deposit from Wednesday with an auction ... More About: Dollar , Federal Reserve , Expectations , Interest Rate , Drop
28th Nov. Wave analysis
2007-11-28 08:26:00 addthis_url = 'http%3A%2F%2Fwww.gccfx.com%2F%3Fp%3D806' ; addthis_title = '28th+Nov.+Wave +analysis'; addthis_pub = ''; More About: Analysis , Majors , Anal
Dollar?s last lap as only peg currency
2007-11-28 08:14:00 It has been one of the most influential theories about exchange rates in the age of globalisation and it may be about to go up in smoke. In 2003, the economists Michael Dooley, David Folkerts-Landau and Peter Garber proposed what has since been known as the Bretton Woods II theory. The idea is based on ... More About: Dollar , Currency , Financial Times
Nasdaq, another sharp move coming but?..
2007-11-27 23:49:00 In the Nov 7th post on the Nasdaq 100 etf (qqqq), warned that the market was forming a topping pattern with a break below the bullish trendline from late Oct potentially triggering a further downside acceleration. The market broke below that support the next day, shorting on the intraday break (then at $53.90), and before tumbling ... More About: Sharp , Move
Dinar rises for fifth time in a week
2007-11-27 17:22:00 Kuwait let the dinar rise for the fifth time in a week on Tuesday after the dollar slid to a fresh two and a half year low against the yen on expectations that credit worries would lead to more US rate cuts. The dinar will trade around a mid point of 0.27390 per dollar, compared with ... More About: Time , Week , Dinar
Official Middle East Day in the US?..
2007-11-27 17:10:00 After Dubai International Capital announced a “substantial” investment into Sony and Abu Dhabi Investment Authority announced it was investing $7.5 billion into Citigroup Inc., the US stock market has rallied, US bonds have sold off, and yen carry has been bought. The US dollar index is up .13 at 74.99, but flat from yesterday’s opening. ... More About: Middle East , Daily News , East , Middle , Official Warning: preg_replace() [function.preg-replace]: Compilation failed: nothing to repeat at offset 0 in /home/blogtop/public_html/blogdetails.php on line 143
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Qatar inflation hits 14%
2007-11-26 15:38:00 The soaring cost of living in Qatar shows no sign of letting up as inflation accelerated to almost 14% at the end of the third quarter, driven by the spiralling cost of accommodation that jumped nearly 29%. Rents and utility costs, which comprise one category in the index, surged 28.8 percent in the third quarter, ... More About: Inflation , Hits , S 14
Dollar?s last lap as the only anchor currency
2007-11-26 07:01:00 It has been one of the most influential theories about exchange rates in the age of globalisation and it may be about to go up in smoke. In 2003, the economists Michael Dooley, David Folkerts-Landau and Peter Garber* proposed what has since been known as the Bretton Woods II theory. The idea is based on the ... More About: Dollar , Currency , Financial Times
?Get rid of dollar peg now? - Economist
2007-11-25 04:24:00 The London-based magazine warned in a report published last Thursday that the dollar’s relentless decline against major currencies was “prompting jibes from America’s critics, jangling investors’ nerves and giving policymakers headaches.” It urged the Gulf states to “loosen their ties to the dollar” when their leaders meet on December 3rd in Qatar. “Nowhere are the dilemmas ... More About: Economist , Dollar
Gauging the pressures
2007-11-22 03:23:00 Over the past week or so we have tracked the sharp build up in upward pressure on a number of GCC currencies, namely the AED, the QAR and the SAR. As is normally the case when pressures begin to build in currency pairs working within a pegged or banded exchange rate system (such as the ...
Market update 21 Nov
2007-11-21 17:08:00 With startling honesty from US Treasury Secretary about the dire state of the US housing market, risk aversion has soared and yen carry has collapsed. The US dollar index is flat at 75.17. UK and Euro libor rates are mixed, but stay elevated compared to central bank overnight rates. Overnight, US dollar libor rose to ... More About: Market , Daily News , Update
Impact of the US Subprime Housing Crisis on the Middle East Region
2007-11-21 01:18:00 The risk of an economic fallout from the US subprime housing crisis has decreased following the recent 0.5 percent cut in US Federal Funds rates, nevertheless its impact on the world financial market will continue to unravel in the weeks and months ahead. Historically, widening credit spreads are followed by rising corporate defaults and volatile ... More About: Middle East , The Middle East , East , Housing , Middle
Fed Minutes And The Markets
2007-11-20 19:33:00 On the surface, there appears to be a disconnect between what the fed has been saying and how the market sees them moving in December. Right now there is about a 90% certainty in fed funds futures that the fed will reduce the overnight rate again. In the meantime, Fed Gov Kroszner gave a speech last ... More About: Markets , Federal Reserve , Minutes , Utes
China voices alarm at dollar weakness
2007-11-20 08:12:00 China on Monday expressed concern at the decline in the dollar, joining a growing chorus of global policymakers alarmed by the weakness in the world’s main reserve currency. Wen Jiabao, the premier, told a business audience in Singapore it was becoming difficult to manage China’s $1,430bn foreign exchange reserves, saying their value was under unprecedented pressure. ... More About: China , Dollar , Alarm , Financial Times
Funding Pressures: More Fundamental than Turn of Year
2007-11-20 07:31:00 Funding pressures are beginning to rise again in money markets, with Libor-overnight index swap (OIS) (and forward) spreads widening in the past week. So far, the increase is miniscule: Libor yields have risen 3-4 bp since the Fed eased monetary policy on October 31, while OIS yields and Fed funds futures have moved down by ... More About: Funding , Fundamental , Turn , Year , Amen
Currencies rally as UAE talks up reform
2007-11-20 02:26:00 United Arab Emirates policymakers kept up pressure for a review of Gulf Arab dollar pegs on Monday and currencies rallied across the oil-exporting region on a signal that Saudi Arabia may be willing to discuss reform. The Saudi riyal hit a 21-year high and investors bet on an appreciation of 2.4% in a year after a ... More About: Reform , Rally , Currencies
Call for 20pc revaluation of currencies
2007-11-20 02:02:00 As GCC countries came under mounting pressure to review their dollar peg, some economists and monetary analysts are calling for an imminent 20 per cent upward revaluation against the sinking greenback. Amid signals from leaders that the GCC would maintain the peg and dollar-based oil pricing policy for the foreseeable future, economists believe that the only ... More About: Call , Currencies , Valuation
Watch Out Below, Equities Quake
2007-11-20 01:42:00 As the Fed struggles to cede back monetary policy from markets (why it ever ceded control to markets in the first place is mindboggling), stocks look set to crater. Earnings story has turned. The weak dollar went from being bullish for stocks to bearish - aid to competitiveness and profits to a signal of a ... More About: Watch , Quake , Daily News , Equities , Belo
Market update
2007-11-19 15:19:00 The beginning of a short, holiday week in the US, the greenback is flipping positive to negative faster than my teenager daughter’s opinion of me. The US dollar index is up .06 at 75.89. UK and Euro libor continues to move up reflecting the nervousness in Europe over the continued problems of the credit crunch ... More About: Market , Daily News , Update
9 Nov. Wave analysis
2007-11-19 07:28:00 addthis_url = 'http%3A%2F%2Fwww.gccfx.com%2F%3Fp%3D780' ; addthis_title = '9+Nov.+Wave +analysis'; addthis_pub = ''; More About: Analysis , Majors , Anal
Re-value dollar peg now, Forbes urges
2007-11-19 00:34:00 The Gulf should immediately carry out a one-time revaluation of its US dollar pegged currencies to prevent any further losses against the weakest Greenback in a quarter of a century, Steve Forbes has warned delegates at today’s first session at Leaders in Dubai. The President, CEO and editor-in-chief of Forbes magazine and twice a candidate in ... More About: Dollar , Urge
Gulf States Consider Revaluing Currencies
2007-11-18 03:30:00 Gulf states, including Saudi Arabia and the United Arab Emirates, may revalue their currencies while maintaining their pegs to the U.S. dollar, a person familiar with Saudi monetary policy said. The states may revalue by an unspecified amount in as soon as a month’s time, the person, who declined to be identified because the matter is ... More About: States , Currencies , Gulf , Consider
Paulson Tweaks Dollar Mantra, Signs of Things to Come?
2007-11-16 22:29:00 It should be obvious by now if not last Friday that the Bush administration and US Treasury has shifted its dollar rhetoric. Yes the mantra stands…a strong dollar is in US interest and it is best to let markets set FX. But the new verbiage, stealing a line from Larry Summers, is that the dollar ... More About: Dollar , Signs , Things , Mantra
Yen Doh!
2007-11-16 15:46:00 Prior to the US economic data, the greenback continues to experience uneasy, volatile trading ahead of this weekend’s G20 meeting. The US dollar index is down .16 at 75.74, but the greenback is up ag the yen at 110.20. After spiking this week, overnight US dollar libor fell .2125 from 4.9550 to 4.7425. Yesterday, the ... More About: Daily News
Fixed Income and FX Hold A Credit Crisis And Equities A No Show.
2007-11-15 23:33:00 Subprime mortgage-related losses across the buy side have left the global banking system hobbled, accelerated the pace of decline in home construction and home prices not seen since the Great Depression and heightened the risk of a US if not global recession. Looking at asset prices it is clear that since July when the story ... More About: Credit , Show , Fixed Income , Income , Equities
Fed offers greater insight on inflation
More articles from this author:2007-11-15 11:09:00 The Federal Reserve on Wednesday unveiled far-reaching plans to increase its transparency, adopting many of the features of an inflation-targeting regime without actually stating a formal inflation target. The policy leaves open the possibility the Fed could adopt a formal inflation target in the future, but avoids a fight with opponents of such a move in ... More About: Inflation , Insight , Offers , Financial Times , Flat 1, 2, 3, 4, 5, 6, 7 |
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