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Oil Producer’s Currencies Are Collapsing As Brent Breaks Below $40

Oil Producer’s Currencies Are Collapsing As Brent Breaks Below $40  Not helped by weakness in China trade data, questions over global growth and inflation expectations are growing. Oil-exporting nations  (and growth-linked currencies) are getting monkey-hammered… Just when traders thought the bottom was in… As Reuters notes, with lower oil prices likely to add to global deflationary […]

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The Crisis Is Spreading: China, Australia, Brazil, Canada, Sweden…

The Crisis Is Spreading: China, Australia, Brazil, Canada, Sweden… Earlier today, we posted an excerpt from IceCap Asset Management’s latest letter to investors focusing on the farce that is the Greek bailout #3, which can be summarized simply by the following table… … and Keith Dicker’s assessment which was that “for Greece, it’s mathematically impossible to repay […]

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This Is What Global Currency War Looks Like: A Complete History Of Recent FX Interventions

This Is What Global Currency War Looks Like: A Complete History Of Recent FX Interventions After the dramatic collapse in the SNB’s defense of the Swiss Franc peg to the Euro, there was a period of relative FX peace in which few if any central banks engaged in outright currency intervention (aside from the countless […]

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Australian dollar skids to six-year low after RBA shock

Australian dollar skids to six-year low after RBA shock (Reuters) – The Australian and New Zealand dollars weakened further in early trade in Europe on Tuesday after a sell-off following the Reserve Bank of Australia’s surprise decision to cut interest rates. The outlook for both Antipodean currencies has worsened in recent weeks with concerns about growth generating […]

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Australian dollar plunges as rate cut bets rise, commodity prices sink

Australian dollar plunges as rate cut bets rise, commodity prices sink The Australian dollar plunged again overnight, as falling commodity prices dragged it to a fresh five-and-a-half-year low. The local currency fell as low as 77.17 US cents, as a combination of strong US data boosting the greenback and falling commodity prices hurting resources exporters, […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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