Currency War Series

Negative Rates Series

Currency War Series

SNB’s deposit rate cut likely this week

Dec 08, 2015 09:11 am UTC| Commentary Central Banks

The modest rate cut by ECB last week raises pressure on the Swiss National Bank for a rate cut. The Swiss interest rates are below the EUR rates across the horizon, which support EUR/CHF to move above 1.10. Switzerland...

Currency War Series

ECB with a further monetary easing bias in 2016

Dec 07, 2015 22:27 pm UTC| Commentary Central Banks

There is unlikely to be much change in euro zone economic growth in 2016. Non-performing loans on bank balance sheets, overly high corporate and private debt, falling house prices in Italy and France and the lack of...

Currency War Series

BoE to stay pat at Thursday's meet, scope for some macroprudential considerations

Dec 07, 2015 11:39 am UTC| Commentary Central Banks Technicals

The BOE has held off raising rates for a long time now. The last MPC meeting made it evident that a strong GBP was a larger concern for the BoE than previously perceived. After the ECB disappointed the market significantly...

Currency War Series

Swiss FX reserve rises with intervention

Dec 07, 2015 10:34 am UTC| Commentary Central Banks

For the past month, looking at Euro/ Franc exchange rate, we have been speculating that Swiss National Bank (SNB) might be intervening in the market on regular basis to pop up Euro against Franc and to maintain some...

Currency War Series

Fed likely out of its "ultra-loose" monetary policy- first big change of coming year

Dec 07, 2015 09:03 am UTC| Commentary Central Banks

In the coming year, Fed will be the first major central bank to raise its interest rates and exit from its ultra-loose monetary policy. After a first hike, likely on December 16, the central bank is set to take more steps...

Currency War Series

Draghi’s attempt to sooth market in post-ECB commentary likely to fail

Dec 07, 2015 08:42 am UTC| Commentary Central Banks

European Central Bank (ECB) governor, Mario Draghi at a dinner party on Wall Street, late last Friday, tried to soothe market, however attempts like these are likely to be less effective from now on. Mr. Draghi, pointed...

Currency War Series

ZAR likely remains vulnerable post Fed lift-off

Dec 07, 2015 07:42 am UTC| Commentary

The rating by Fitch might impact ZAR slightly negatively on Monday as it came after the local markets closed on Friday. The rating decisions of both Fitch and SP were as expected, slightly extensive moves can be...