Wednesday, 2 December 2015

Financial Orbit wrap 02/12/15

Five sentences or graphics which sum up the Financial Orbit output over the last 24 hours across the website, twitter account and anything else thought about...

1. Ahead of the ECB – good read “ECB Preview: Credibly Promising to Behave Irresponsibly” here.  Totally agree with the observation that ‘the ECB needs governments to enact and enforce fiscal and structural policies to complement its expansionary monetary policy. Without government contributing to growth, overreliance on monetary policy runs the risk of sowing the foundation of the next financial crisis’

2. In macro moves, oil noteworthy...

West Texas Intermediate dropped $1.73, or 4.1 per cent, to $40.12, in afternoon trading, bringing oil's year-to-date decline to about 25 per cent. Brent crude, the international benchmark, was down 3.7 per cent.

3. ahead of the ECB tomorrow the US dollar finally took out some big levels (via @boes_)

U.S. dollar just hit the highest level since Dec. 30, 2005 on a real effective exchange rate basis

I am still a believer that this is it re US dollar strength...and interesting to see in pretty high volatility that the euro back above 1.06...

4. I laughed at this on the Fed/Japan via @ForexLive:

Yellen: This may turn out to be a very different rate cycle. Similar to this one:

5. Finally, here's an exclusive Christmas list if you are so inclined...

The unofficial Goldman Sachs holiday gift guide for 2015

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