Speculators Beware, China Just Made Things “Harder Still”

“At such times, FX intervention will become necessary to close the gap between the market price and the fixing.”

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“Unexplained, High-Volume Drops,” Yuan Shenanigans, And A Cartel Meeting

Well, things have been “choppy” overnight and especially around the flood of OPEC headlines that started coming in around 4:30 a.m. EST. As noted earlier this morning, crude dipped precipitously (although, the definition of phrases like “precipitous dip” and “flash crash” seems to be getting more liberal by the day of late) when Saudi Arabia’s Energy Minister…

Storm Clouds Gather As Trump Headline Risk, Terror Attack Battle Econ Data For Market’s Heart

Well, this market’s mettle is being tested. Again. On Monday evening we got what might fairly be described as the worst kind of double-whammy: a WaPo report containing new revelations about Donald Trump’s attempts to obstruct justice in the Russia probe and a terrorist attack that killed 22 people in Manchester. The knee-jerk risk-off move…

“It’s Funny Because It’s Treason”: Global Markets Jittery As Trump Makes New Lows

We start Tuesday on a treasonous note… So because he’s President, Donald Trump gets some intel. And, at least according to some sources, Trump is often surprised at just how “great” the intel is. And it turns out that maybe – just maybe – he got a little too excited when bragging about that tremendous intel to…

“A Pretty Eclectic Collection Of Unrelated Developments”

SocGen’s Kit Juckes probably summed up the overnight session best: Overnight currency drivers have been a pretty eclectic collection of unrelated developments. That sounds like it could be an ill-advised sequel to “A Series Of Unfortunate Events“: “A Pretty Eclectic Collection Of Unrelated Developments.” First there’s the kiwi which collapsed. That comes courtesy of the…