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Markets “Whatever it takes.” These words by former ECB president Draghi in July 2012 are widely considered the turnaround in the sovereign debt crisis that had the euro (area) staring into the abyss. Germany’s upcoming chancellor Merz used them again to announce a similar seismic shift on a fiscal level. With a €500bn infrastructure investment […]

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22/03/2024

SNB First G10 Bank to Cut Rates

In focus today It should be a quiet finish to a very busy week for macro news. Today we will get the second wage tally from the Japanese “spring wage offensive”. It will be interesting to see if the solid pay hike in big business has rubbed off more broadly. Today we also look out […]
18/02/2025

New Zealand Dollar Slips Ahead of Expected RBNZ Cut

The New Zealand dollar is sharply lower on Tuesday. NZD/USD is trading at 0.5700 in the North American session, down 0.62% on the day. RBNZ expected to chop rates by 50 basis points The Reserve Bank of New Zealand meets on Wednesday for the first time this year. The RBNZ lowered rates by a half-point […]
17/02/2025

Yen Extends Gains on Strong GDP

The Japanese yen continues to roll against the US dollar and has posted gains for a third straight trading day, gaining 1.9% during that time. In the European session, USD/JPY is trading at 151.43, down 0.53% on the day. Japan’s Q4 GDP beats estimate Japan’s GDP in the fourth quarter rose 0.7% q/q, blowing past […]