More Snoozer Thursday than Super Thursday

Good morning,

MPCzzzzzz

Today’s Bank of England meeting will be the 82nd in a row in which rates have remained at 0.5%. There are good reasons why rates have remained low for that long and good reasons as well why the Monetary Policy Committee will continue to sit on their hands well into 2016. If the Bank of England meetings that have a Quarterly Inflation Report attached are known as ‘Super Thursdays’ then the ones without must, in my opinion, be renamed as ‘Snoozer Thursdays’.
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Keep your eyes to the East

Good morning,

Oil still skidding

The whipsaw movements in oil markets are causing a bit of an existential crisis in currency markets, though Asian trade has seen the volatility calm overnight. Oil prices are higher, for no other reason than they were seen to be oversold in the past few days, and most currencies that had fallen against the USD have stabilised as a result.

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Commodities signal further declines, deflation concerns

Good morning,

Oil slick, ironed out

The focus of the first 24 hours of this week has been almost exclusively on commodities and emerging markets with some big moves increasing the uncertainty as we close out the year. Both oil and iron ore prices took a substantial beating yesterday, dragging commodity currencies lower and increasing the fears of additional deflationary pressures through developed economies in the coming year.
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Party Pooper Mario takes euro higher

The Draghi Disappointment

Yesterday’s ECB meeting has seen the euro spike dramatically after the latest policy announcement was a profound disappointment. Deposit rates were cut by 10bps (less than consensus), QE was extended by six months with no increase in purchases (less than consensus) and additional measures around deposits or extending asset purchases to take in buying different things.


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World First’s selection of 11 global events for sports lovers in 2016

A new year brings a wealth of sporting delights around the world, from Euro 2016 to the Invictus Games.

Here at World First, we help people transfer money around the world. Some of the people we help in 2016 might be out in the US for the Ryder Cup golf, and enjoy it so much they decide to stay! Then, with our help, they might just buy a property out there! Very nice too…

imagesHK7Here are our 11 global events for sports lovers in 2016.

Superbowl 50, San Francisco, USA – Feb 7
5 seconds of action, then 5 minutes waiting? Not for the aficionados that regard Superbowl as an unofficial holiday. This 50th edition takes place at San Francisco 49ers’ Levi’s Stadium.

ICC World Twenty20, India – March 11 – April 3

Cricket – simply the most important thing to millions of Indians. Expect a fevered atmosphere and plenty of big hitting along the way as Sri Lanka defend their title.
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World First’s list of 101 things to do around the world in 2016

Want to do something different in 2016? We’ve scoured the world for the biggest, messiest, noisiest, most iconic and, frankly, the weirdest events around the world to compile the ultimate list of 101 things to do around the world in 2016. From sport to music, festivals to the weird and wonderful, we’ve got you covered. And if you need help with your currency transfers, we can help with that too!European Central Bank lay their cards on the table come Thursday lunchtime. View article >

Pre-ECB malaise starting to set in

Waiting on Mario

The pre-event malaise that falls over currency markets in the lead-up to big announcements is starting to creep in. A poor US manufacturing release yesterday afternoon twinned with some profit taking on dollar positions has just put the brakes on some of the recent volatility ahead of a very important 60 hours or so.

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Yuan now part of SDR

And so it was done. China’s currency is part of the IMF’s Special Drawing Rights but the inclusion asks more questions than it answers in our opinion. It is uncertain what impact the yuan’s inclusion in the SDR will have on pricing in the short term; there are reasonable expectations of both gains – as investors take confidence in the currency – or losses – as the People’s Bank of China once again attempts to weaken yuan to garner higher export competitiveness.
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