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SeekingAlpha.com (Free subscription) | 11/25/2009
Marc Chandler submits: The combination of the apparent resolution of the West LB situation and the FOMC minutes have conspired to send the US dollar broadly lower today. The FOMC minutes in particular have been seized upon. On one hand, it is unusual for the FOMC to give so much space to a discussion about the dollar. This is, however consistent with what appears to be a stepped up campaign...
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Business Week (Free subscription) | 11/26/2009
... but gold accounted for just 4% of the RBI's total foreign exchange reserves in September.Marc Chandler, chief currency strategist at , calculates that the value of India's total foreign exchange reserves has grown by twice that of its gold reserves this year, so the central bank's holdings haven't diversified at all.Russia added gold from its own minesBefore buying from the IMF, India...
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SeekingAlpha.com (Free subscription) | 11/24/2009
Marc Chandler submits: The pressures on Greece continue to increase and this fact is reflected in the credit default swaps and the country's interest rate spread over Germany. Indeed, that is a key development in the euro zone over the past month. Greece yields have risen above Ireland, which had been the highest yield in EMU this year. Ten year Greek yields are just below 5%, while...
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SeekingAlpha.com (Free subscription) | 11/23/2009
Marc Chandler submits: With U.S. T-bill yields hovering near zero, today's weekly bill auctions may attract more general market attention than usual. Here is what is going on. Due to the approaching debt ceiling, the US debt managers have reduced T-bill sales. At the same time, the demand for short-term paper is great. First, many medium term investors want to stay fairly liquid, as...
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Market Watch (Free subscription) | 11/23/2009
FRANKFURT (MarketWatch) -- The rand rose 1.9% against the U.S. dollar on Monday, boosted by the rally in gold prices and expectations that data due Tuesday will show the South African economy grew by an annualized 0.5% in the third quarter from the preceding quarter. "Many are linking the rally in gold to new record highs with the rand's strength," said Marc Chandler, currency...
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SeekingAlpha.com (Free subscription) | 11/23/2009
Marc Chandler submits: The South African rand is the strongest currency as of Monday, gaining 1.87% against the sagging greenback. Several factors are helping lift the rand. Many are linking the rally in gold to new record highs with the rand's strength. Year to date the correlation between dollar-rand and gold is -18.8%. The euro has been more correlated with gold year to date (26.5%)....
