EUR/CZK ignores fundamental data, keeps approaching floor

Jul 20, 2015 06:56 am UTC| Commentary

Early last week, EUR-CZK was seen to move aggressively towards its CB-set floor of 27.00, ignoring near-term data such as worse-than-expected current-account for May, which brought the first negative reading in a...

Inflation to stay near Banxico’s target near term

Jul 20, 2015 06:51 am UTC| Commentary

Mexicos inflation slipped below 3.0% (Banxicos target) in May to 2.88% for the first time in a decade and remained largely unchanged in June. The core inflation remained at its lowest level ever at 2.3% and food inflation...

Iran, the end of the beginning

Jul 20, 2015 06:51 am UTC| Commentary

Iran and the P5+1 have finally come to an accord this past week, ending several years of strict sanctions. Iran stands to benefit from good behavior in the first few years. This means the lifting of sanctions and access...

BoC cut to weigh on CAD?

Jul 20, 2015 06:44 am UTC| Commentary

It is not often the Great White North leads the G- 10 volatility march but last week, the BoC cut the overnight rate by 25 bps to 0.5% and reduced near-term growth forecasts.Poloz justified the move based on three key...

Further bond MF outflows to weigh on global markets?

Jul 20, 2015 06:36 am UTC| Commentary

With Fed hikes on the horizon and after the rise in rates, bond MF outflows have been running at nearly a $2bn per week pace since mid-June. Risks of further outflows, weighing on markets are however seen.After a...

China concerns weigh on commodities

Jul 20, 2015 06:26 am UTC| Commentary

The 6% fall in oil on July 6 surprised investors and was attributed to China and Iran concerns. The oil positioning unwind was the second largest on record, explaining a large part of the July 6 collapse.Also, there are...

Global bond funds outflow at slower pace

Jul 20, 2015 06:24 am UTC| Commentary

Even as bond yields stabilized at higher levels over the past two months, bond funds have had outflows in each of the prior five weeks; the pace of outflows did slow, however, with a modest inflow last week.End investors...