Nobody strike a match.
Category: lira
All’s Well That Ends In An Epic Mideast Death Match.
Tension is running high on Monday…
‘Do Something!’
And that, folks, is the week.
Fireworks.
“…or what counts as ‘fireworks.'”
Trader: ‘You Don’t Always Get Something For Nothing’
“Traders like to blame all the world’s ills on central bank behavior and then scream when markets act like markets. Or their machines act like robots.”
Risks Aplenty.
And now, back to your regularly scheduled programming…
Lira Collapses Most Since Coup As Gulen Witch Hunt Triggers Diplomatic Crisis With U.S.
This of course stems directly from Erdogan’s ongoing efforts to bring arch nemesis Fethullah Gulen to “justice.” Pretty much anything that goes wrong for Erdogan gets blamed one of two things: 1) a Kurdish conspiracy, 2) a Gulen-linked conspiracy. This latest spat with Washington is no exception.Â
No Market Is An Island.
Best of luck in Q4 and here’s hoping there’s a Q1 2018.
‘Believe Me.’
What could go wrong?
Powder Keg Alert: Kurdish Referendum In Focus As Erdogan Threatens Oil Flows, Military Strike
“Our military is not (at the border) for nothing. We could arrive suddenly one night.”
Turkish Delight: Trading ‘The Great British Selloff’
…do note that there’s a wild card here.
Geopolitics! Won At 4-Month Low, Lira Sinks, Trump Says ‘Very Severe’ Shit Is Goin’ Down
Well, the won is at four-month low against the dollar on Thursday because, well, because
SocGen’s Kit Juckes Is “Back From The Alps”: Here’s His Quick Pocket Guide To An Uncertain Market
The tough thing about a market dominated by geopolitical concerns is that geopolitics is country- or at least region-specific. There’s nuance, idiosyncrasies, thousands of years of history peculiar to this country or that, religious undercurrents, etc., etc. You have to take all of that into account when trying to make sense of markets in the context of multiple geopolitical powder kegs.
Fortune Cookie Say: “Good Econ Data!” The Sultan Returns. Welcome To Monday.
Boom! It’s Monday. Let’s hit the ground running.
Daily Kickstart (Japan Battles Bond Markets, Mexico/Turkey Battle FX Traders, May Meets W/Trump)
As is rapidly becoming custom, we start with FX markets, where the USDJPY rose again,
Daily Kickstart (Dollar In Focus As UK Court Rules; Lira Plunges)
On Monday evening I said I’d likely find myself talking about the dollar again first thing
Daily Kickstart (“I Had Some Bad Chinese”)
We’re gonna need a weaker yuan. Data out Friday showed China’s exports falling 6.1% y/y
Daily Kickstart (Dollar Doldrums)
Oh how the mighty (greenback) has fallen. The consensus trade of 2017 is having a rough
Daily Kickstart (Dear Mexico, We’re Sorry About All This)
I think I can probably sum up Wednesday with one sentence and one chart…
Daily Kickstart (Go Home Lira, You’re Drunk Edition)
“There is still much uncertainty about how his exact economic agenda will look,” Commerzbank’s Thu Lan
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