A look at the price action among the major currencies for the week ahead.
A technical look at the currencies. The phase that has characterized the first few weeks of the year has ended and a new one has begun.
- Goldman to Fidelity Call for Calm After Global Stock Wipeout (BBG)
- Turnabout on Global Outlook Darkens Investor Mood (Hilsenrath)
- EU Said to Weigh Extending Greek Loans to 50 Years (BBG)
- Second Storm Hitting Northeast Halts Planes, Schools (BBG)
- Small Banks Face TARP Hit (WSJ)
- As Sony prepares PCs exit, pressure mounts for reboot on TVs (Reuters)
- IBM Uses Dutch Tax Haven to Boost Profits as Sales Slide (BBG)
- ECB faces dilemma with inflation drop (FT)
- London Subway Strike Snarls Traffic as Union Opposes Cuts (BBG)
Despite all the problems discussed here at ZH, the US dollar has is staging a come back. Read about where it may go in the period ahead.
With analysts preferring gloss over the massive bellwether stock earnings misses, focus on non-GAAP manufactured releases, and cling optimistically to hopes that weak performance, inclement weather, and volatile currency fluctuations will all go away soon and that the future looks rosy. However, as Bloomberg's Richard Yamarone notes, the US economy continues to cling to an historical subpar growth and CEO comments hardly support any hope for a change.
- Obama warns divided Congress that he will act alone (Reuters)
- Fed Decision Day Guide From Emerging Markets to FOMC Voter Shift (BBG)
- Fed poised for $10 billion taper as Bernanke bids adieu (Reuters)
- Bernanke’s Unprecedented Rescue Unlikely to Be Repeated (BBG)
- Argentina Spends $115 Million to Steady Peso (WSJ)
- Billionaires Fuming Over Market Selloff That Sinks Magnit (BBG)
- SAC’s Counsel Testifies at Insider Trading Trial in Unexpected Move by the Defense (NYT)
- Automakers Fuel Japan’s Longest Profit Growth Streak Since 2007 (BBG)
- Turkey Crisis Puts Jailed Millionaire at Heart of Gold Trail (BBG)
- Ukraine expects $2 billion tranche of Russian aid soon (Reuters)
- Emerging markets pray for Wall Street tumble (Reuters)
- Yellen Faces Test Bernanke Failed: Ease Bubbles (BBG)
- Samsung sets new smartphone sales record in fourth quarter, widens lead over Apple (Reuters)
- China’s Foreign-Reserves Investment Chief Said to Depart Agency (BBG)
- China’s Rescue of Troubled Trust May Stoke Risk-Taking (BBG)
- Ukraine PM Azarov offers to resign 'to help end conflict' (Reuters) ... And Russia says may reconsider aid if this happens
- But... but... it was all gold's fault: India Unexpectedly Raises Rate as Rupee Risks Inflation Goal (BBG)
- Former Belgian king 'boycotting' public events after complaining £760,000 is not enough to live on (Telegraph)
- Greek disposable income tumbles 8% in Q3 (Kathimerini)
Overview of the price action in the foreign exchange market.
- Emerging market sell-off raises specter of contagion (Reuters)
- China Bank Regulator Said to Issue Alert on Coal Mine Loans (BBG)
- Argentina to Ease FX Controls After Peso Devaluation (BBG)
- Pimco's Gross problem: who can succeed the 'Bond King'? (Reuters)
- Ukraine protesters seize building, put up more barricades (Reuters)
- Mideast Turmoil Dominates Gathering of Business Elite (WSJ)
- Central Banks Withdraw Dollar Funding (WSJ) - oh really?
- Samsung warns of weak earnings growth this quarter (FT)
- Three explosions rock Cairo, killing 5 (USA Today)
Overview of the major forces shaping the investment climate.
Overview of the dollar's outlook against the major currencies, without a preconceived notion that the US is in some kind of terminal decline.
Is it all about expectations about tapering, again?
Technical outlook for the several of the most actively traded currencies.
- From the guy who said the market is not overvalued: Q&A with Fed’s Williams on Upbeat 2014 Outlook and What Keeps Him up at Night (Hilsenrath)
- Obama Readies Revamp of NSA (WSJ)
- Indian envoy leaves U.S. in deal to calm diplomatic row (Reuters)
- China overtakes US as largest goods trader (FT)
- Wall Street Predicts $50 Billion Bill to Settle U.S. Mortgage Suits (NYT)
- Low-End Retailers Had a Rough Holiday: Family Dollar, Sears Struggle as Lower-Income Customers Remain Under Pressure (WSJ)
- ECB charts familiar course as Japan, US and UK begin to diverge (FT)
- Housing experts warn of hiccups as new U.S. mortgage rules go live (Reuters)
- It's a HFT eat HFT world: Infinium ex-employees sue over $4.1m loss (FT)
- Slowing China crude imports to challenge exporters (FT)
A look at the technical condition of the fx market, interest rate differentials, central bank developments and the data due out in the week ahead.