Euro Pressure Persists north Fears over the AI-meme, which took the semiconductor index down more than 10% last week, has stabilized with the help of favorable earnings by Super Micro Computer and SpaceX. South Korea’s Kospi dropped 14.5% last week amid the anxiety. It rallied 3.3% today and is now higher on the week. On [...]
AI Anxiety Returns, Peripheral Premiums Widen in Europe, and Oil Extends Gains north The US dollar is mostly softer as AI worries resurface. A dismal showing of an IPO for an AI infrastructure company in South Korea seemed to renew last week’s concerns. The Canadian dollar is leading the charge today after the secessionist referendum in Alberta lost handily. The UK reported [...]
Euro Marked Down, China's GDP Firmer than Expected, AI Equities Stabilize north The US dollar is mixed against the G10 currencies to start the new week. The dollar-bloc and Scandis are firmer, while the euro, Swiss franc, sterling and yen are softer. The euro is weakest after being marked down initially on the social strife in Europe, especially France, the weekend. [...]
Week Ahead: Rates, AI, and Oil north In understanding and anticipating exchange rate movement we often privilege interest rates and the drivers of capital flows instead of trade flows. However, a new player may have entered the game. Or perhaps, more aptly, left the game. The AI meme may have cracked. From 30k feet, the [...]