Hints and tips:
...But Jane Foley, head of FX strategy at Rabobank, said the ECB might not oppose a gradual weakening of the euro as it begins to focus “more on growth risks than inflation risk”....
...For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X....
...Iron ore is the key driver of earnings, however, and Rio Tinto benefited from falling energy prices in the year, which damped unit costs at the flagship Pilbara operations....
...US consumer prices excluding food and energy items rose at a 3.3 per cent annualised rate in the final three months of 2023, down from more than 5 per cent early last year....
...A recent resurgence in energy prices sparked by the Israel-Hamas war has added to the pressure on an already slowing economy....
.... $32.95, miir.com LEKI Makalu FX Carbon Hiking PolesThese poles have a new grip system with a rubberised head for extra control, and a carbon construction that’s lightweight and collapses down to a length...
...’s high reliance on imported energy....
...Karthik Sankaran, an FX markets veteran, says it must be “unfailing”: a universal and fungible asset, invoicing and liability currency....
...“The US data is relentless and it’s coming at a time when the European manufacturing sector is very weak,” said Chris Turner, head of FX strategy at ING....
...Fact 5 Countries that resolved inflation SUFFERED LIMITED FX depreciation Another [annoyed grunt] point, to be honest....
...Volatile commodity markets have also distinguished net energy exporters from importers and those with critical reserves....
...South Korea imports almost 93.5 per cent of its energy and natural resources consumption....
...And oil really permeates everything . . . high energy prices could push [core] inflation higher too.”...
...Prices are up almost 20 per cent since the pandemic began; the price of food is up 24 per cent, energy 37 per cent. That this should make the world feel malign and unpredictable is only natural....
...Energy stocks led gainers in Europe, after crude oil prices strengthened as Opec+ data signalled that global supply was beginning to tighten since Saudi Arabia and Russia lowered exports....
...“The positioning shows that speculators have become more bullish on sterling,” said Simon Harvey, head of FX analysis at Monex Europe....
...“Now we have low energy prices, better data from China and an ECB which is more hawkish than the Fed.”...
...A rapid rise in global interest rates, soaring energy and food prices, a strong dollar and a global economic slowdown following the Covid-19 pandemic sparked a rapid sell off in “hard currency” — largely...
...However, she forecasts core inflation, which strips out the more volatile food and energy prices, to be unchanged at 7.1 per cent....
...In particular, upside surprises in core inflation this year have yielded negative FX reactions, despite large fixed income selloffs at the same time . .....
...The energy ministry, Israel Katz, also said that he’d instructed authorities to cut off water. Gaza gets some of its fresh water from Israel....
...Ingvild Borgen is a rates and FX analyst and Kelly Chen is an economist at DNB Markets....
...Energy stocks, in particular the US majors, had a good day yesterday, despite all but unchanged oil prices. Perhaps this reflects a bet that Russian instability will constrain global energy supply....
...“For several years, there was almost no alternative to the dollar,” said Andreas Koenig, head of global FX at Amundi.“ Now, capital is flowing back home again” to economies outside the US as other attractive...
...A quid is £1 and don’t do your FX trading at the airport. Anyway, we need to talk about why it matters, right, that the dollar is so strong....
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