Today's Currencies Pulse
Rupee flat on hopes West Asia truce will hold
The Indian rupee held steady as markets priced in hopes that a West Asia truce would hold, hovering near ₹95.78 per dollar after slipping 8 paise in early trade. Traders kept a close eye on geopolitical developments while the currency remained largely unchanged.
MacroVoices #519 Alex Gurevich: The Next Perfect Trade
Alex Gurevich joins Erik Townsend and Patrick Ceresna on MacroVoices to outline his outlook for fixed‑income markets and the broader macro environment. He argues that the Federal Reserve will keep a restrictive policy stance into 2026, keeping inflation pressures in check while limiting bond price appreciation. Gurevich also highlights AI’s accelerating impact on productivity, the upside potential for precious metals as a hedge, and the yen’s vulnerability amid Japan’s ultra‑low‑rate policy. The conversation ties into his new book, “The Next Perfect Trade,” which offers a framework for identifying high‑conviction opportunities in this landscape.
Headline Inflation Cools, Core CPI Accelerates in January
Wall Street expects a cooler month for headline inflation but a hotter month for core in January Headline CPI: 0.26% m/m, 2.5% y/y (down from 0.31% m/m and 2.7% y/y in December) Core CPI: 0.34% m/m, 2.5% y/y (core m/m accelerating from...
Global Wealth Shift: US Cuts, Overseas Gains Ahead
A Massive Global Wealth Transfer Is Coming Americans will consume less, the rest of the world more. Capital is flowing overseas. This isn’t a crisis, it’s a wealth transfer — and there are winners if you know where to look. PeterSchiff #Economy...
Release: Market Participants Survey
On November 9 2026 the Bank of Canada published its quarterly Market Participants Survey, a systematic outreach to a broad cross‑section of financial‑market actors. The survey solicits expectations on key macro‑economic indicators such as inflation, growth, and exchange rates, as well as...
Publication: Summary of Deliberations
The Bank of Canada released a detailed Summary of Deliberations outlining the Governing Council’s discussion of the monetary‑policy decision announced two weeks earlier. The document highlights the Council’s assessment of inflation trends, labour‑market tightness, and the domestic growth outlook. It...
Publication: Summary of Deliberations
The Bank of Canada’s Governing Council released a detailed summary of its monetary‑policy deliberations for the decision announced two weeks ago. The Council kept the policy interest rate steady at 4.75%, citing modest progress toward its 2% inflation target. Officials...
Interest Rate Announcement
On December 9, 2026 the Bank of Canada will release its next overnight rate target, one of eight scheduled policy announcements each year. The press release will outline the economic factors shaping the decision, including inflation trends, labour market conditions, and global...
EU Parliament Backs Digital Euro to Curb US Payment Dominance
Post-Trump assault on Greenland, the EU parliament delivers a big win for the digital euro as it wins 420-158 backing in EU Parliament straw poll The digital euro couldn't have better timing as the EU looks to the digital euro...
Global Real Estate Set to Be Rewired by Digital Dollars
Digital stablecoins are being positioned as an operating system for global real‑estate finance. Projects like TransactionCOIN aim to replace wire transfers with instant, blockchain‑settled payments for deposits, closings, and rent. By compressing settlement cycles from weeks to minutes, stablecoins could...
UAE's First Dirham‑Backed Stablecoin Unlocks Trillion‑Dollar On‑Chain Potential
The UAE just launched its first regulated stablecoin. DDSC --> backed 1:1 by UAE Dirham, initiated by IHC ($240B cap) and First Abu Dhabi Bank ($330B assets). That's a great step forward and that's why this chart has continuously been doing well....
China Eases Capital Controls as Asset Buildup Accelerates
China usually liberalizes its financial account when the PBOC (now the state banks) are accumulating assets at too rapid a pace, and it wans the dollar risk to be taken by others ... 1/2
Could a BRICS Currency Work?
The article probes the feasibility of a shared BRICS currency aimed at challenging the US dollar’s global dominance. While mainstream economists have long dismissed the concept, the bloc is actively seeking new settlement rails to lessen dollar dependence. Structural hurdles—including...
East Asia Drives Surging Trade Surplus, Currencies Remain Cheap
Bingo And the global trade surplus (ex pharma) is now primarily in China, Taiwan and Korea ... Important qualification to the now standard argument the dollar has gotten weaker (which is true primarily if the clock starts at the end of 24,...
EURCHF Plummets to Record Lows, Yield Gaps Irrelevant
Another FX PSA: $EURCHF has extended its generational slide lower to fresh record lows. Yield differentials don't matter at all here apparently: https://t.co/cHMUxde914
Piero Cipollone: Europe and Monetary Sovereignty
In a February 2026 speech, ECB Executive Board member Piero Cipollone warned that Europe’s monetary sovereignty is threatened by growing dependencies on foreign payment systems and digital assets. He argued that control over the euro, both in cash and digital...
Dollar Regime Flip: Strong Data Now Weaken Currency
Something big is going on with the Dollar. In the past decade, strong data have pushed the Dollar up, but that isn't what happened yesterday. We're going back to the regime that prevailed before, whereby strong data push the Dollar...
FX Market Consolidates After Strong January Jobs Data
Consolidation Featured after Yesterday's Big FX Moves: The general tone in the foreign exchange market is one of consolidation after yesterday’s stronger than expected January jobs data injected volatility into dollar trading. The news stream is light… https://t.co/TEyGQAuZOx https://t.co/b9kn9ngrdN
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What To Expect From Friday's Report On Inflation
Economists expect the January Consumer Price Index to rise 2.5% year‑over‑year, a dip from December’s 2.7% and the lowest headline inflation since May 2021. Core CPI, which strips out food and energy, is also projected at 2.5%, matching the lowest...
Dedollarisation Isn't Driving Yields Lower, Media Misleads
Is Dedollarisation driving bond yields lower or is social media pushing the wrong story? A deep dive into dollar strength, Fed policy, gold, and global trade dynamics. Full breakdown inside 👉️ : https://t.co/qdYNFtTIhV https://t.co/rMDnvdP14u
USDCNH and USDHKD Show Strong Inverse Correlation
The correlation between the USDCNH and USDHKD is the most intense and consistent inverted I've seen since the former (theoretically) 'floated'. What's going on there? https://t.co/KsfLfKWwTf
Lower Unemployment Rate Supports Longer Pause for Fed
January’s jobs report showed 130,000 new positions, nearly double expectations, and a unemployment rate drop to 4.3%, down from 4.5% in January. The stronger labor market has pushed back market expectations for the Federal Reserve’s next rate cut from June...
Infographics: Key Rates & Spreads In the Modern Repo Market
The episode breaks down the modern repo market by illustrating how overnight rates and dealer spreads vary across different repo segments—triparty, GCF, DVP, and NCCBR. It explains that dealers profit by maintaining a positive spread between the cost of borrowing...
January Jobs Spark Rate‑cut Doubts Despite Solid Hires
Analytically, the January U.S. jobs report supports competing views. The market reaction, however, was clear: traders have sharply dialed back expectations for a June rate cut. The big beat on January job creation, paired with a dip in the unemployment rate...
Strong Payrolls Fail to Boost Dollar, Correlation Shifts
Tepid response of the Dollar to a big upside surprise in payrolls. The whisper number for consensus was weak, so this was a solid beat, yet USD is barely able to rise. We're on our way to the correlation switch...
ECB Appoints Thomas Broeng Jorgensen as Director General Specialised Institutions and Less Significant Institutions
The European Central Bank appointed Thomas Broeng Jorgensen as Director General for Specialised Institutions and Less Significant Institutions, effective 1 March 2026. In this role he will directly supervise specialised banks and coordinate the oversight of less‑significant banks through national supervisors. Jorgensen succeeds Patrick Amis,...
US Adds 130k Jobs, Unemployment Slips to 4.3%
NEW US JOBS DATA: Non-farm Payrolls: +130k Unemployment Rate: 4.3% (-0.1%) Prime Age (25-54) Employment-Population Ratio: 80.9% (+0.2%) Average Hourly Earnings: +0.4% Annual Benchmark Revisions: -898k
NEC Director Predicts Slightly Lower Jobs, NFP May Miss Forecast
https://t.co/k2T7oPbMh8 In an interview with CNBC on Monday (February 9, 2026), Kevin Hassett, the Director of the National Economic Council, advised markets to expect "slightly smaller job numbers" in the coming months. These remarks, have led many to speculate that the January...
China Lets Yuan Rise to Strongest Level in Years as De-Dollarisation Trend Grows
China’s central bank set the yuan’s daily fixing at 6.9438 per dollar, the strongest level in 33 months, as the currency continued to appreciate. Offshore trading pushed the yuan to 6.909 per dollar, reflecting a broader rotation out of US...
Argentine Peso Rallies, USDARS Breaks 100‑Day SMA Streak
In case you haven't been keeping tabs, the Argentine Peso has been gaining some traction recently. $USDARS has taken out some recent support and ended a 1,689 (trading) day streak above the 100-day SMA https://t.co/Vq0kH5UKHg
NFP Beat Trims Fed Rate Cut Expectations by 8‑12bps
In the wake of this morning's NFPs beat and downtick in the unemployment, Fed Funds futures have shaved off ~8bps worth of expected cuts through 2026 - was as much as 12bps. Someone is going to be surprised if this continues:...
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What Is World Liberty Financial? What to Know About The Trump Family's Crypto Firm
World Liberty Financial, the Trump family’s crypto venture, has applied for a national banking charter and launched WLFI Markets, a DeFi platform that lets users borrow and earn points using its USD 1 stablecoin and WLFI token. The WLFI token, which...
USD/JPY Suffers Biggest Weekly Loss Since 2024
Japanese Yen Short-term Outlook: USD/JPY Faces Largest Weekly Loss Since 2024– Key Support in Focus https://t.co/HjgrEM3kjP $USDJPY Daily & 240min Charts https://t.co/nQQ6innM0G
Yen Carry Trade Holds; USD Weakens, Markets Rise
Yen Carry Trade Is Not Unwinding Like You Think $USDJPY $FXY $QQQ $DXY Japan & China’s pressure on Treasury sales are weakening the USD, supporting equities + metals overall, without triggering a disruptive yen carry trade unwind. https://t.co/m6Mu3FpuRf
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Trump Expects An Economic Miracle From The New Fed Chair
President Donald Trump urged his Fed chair pick, Kevin Warsh, to deliver 15% annual GDP growth, a target rarely achieved outside wartime. The president’s demand follows criticism of current chair Jerome Powell and calls for aggressive rate cuts. Economists note...
Unveiling 2026 Prop Trading Roadmap and Upcoming Announcements
Great conversations at @iFXEXPO diving into the 2026 Prop Trading roadmap - with a few hints about big announcements coming from @the5erstrading @FundedNext @IC_Funded Apparently I was “grilling” them (according to the audience)😄… or just asking questions everyone’s thinking? https://t.co/GEGDCIAXIG
What a Schwab Brain Scan Reveals About Traders
Charles Schwab scanned my brain… and this is what they found 👀 Inside the Mind of a Trader | Kathy Lien https://t.co/7k3G7EUtU5 via @YouTube
Argentina's 32% Inflation Signals Milei Must Dollarize
Argentina’s January inflation came in at a RED HOT 32.4%/yr. Pres. Milei’s monetary model is not working. MILEI MUST DOLLARIZE NOW. https://t.co/MLSKqYfys7
Dollar Stabilizes Post‑NFP; CPI Sets Next Direction
US Dollar Technical Forecast: USD Stabilizes After NFP – CPI to Decide the Next Move https://t.co/xwnZkIUN3I $DXY Weekly Chart https://t.co/Cp7VSktXM6
USDJPY Plunges 2.5% in Three Days, Reversal Uncertain
$USDJPY is down over -2.5% over the past three days. One of the biggest drops in the past year and a half. Doesn't mean it has to stall and reverse though... https://t.co/LRjhnctyzL
USD Strength Shifts EUR/AUD, EUR/JPY, GBP/JPY Post‑NFP
Today's Opening Bell A look at the USD crosses post-NFP with on-the-fly analysis on EUR/AUD, EUR/JPY and GBP/JPY https://t.co/Tu1RqyYsZf
NFPs Surge Past Forecasts, yet 2025 Revisions Cut Million
#NFPs beat expectations by the most in 10 months - a 130K vs 40K expected. That said, revisions aggregated through 2025 have lowered the year's total by over 1 million https://t.co/p1pkqEWC57
Investors Dismiss Threat, Doubt USMCA Termination
"The market isn't taking this latest threat seriously at all," said Adam Button, chief currency analyst at investingLive, adding that investors doubt that the United States-Mexico-Canada Agreement, a continental trade pact, will be discontinued ... I'll say it...
Strong January Jobs, Lower Unemployment Boost USD Despite Cut Expectations
Jan jobs data better than expected and benchmark revision more or less in line. Unemployment rate ticks lower. $USD jump sold into quickly. Mkt still pricing in around two cuts this year.
January Jobs Surge 130K, Beating Forecasts, Unemployment Dips
January Non-Farm Payrolls print at 130K vs expected 66K - previously 48K Unemployment holds ticks lower to 4.3% #NFP
BIS Chief Meets ECB to Discuss Current Economic Trends
Glad to welcome @BIS_org General Manager Pablo Hernández de Cos back to the @ecb today. We had a good discussion on the latest economic developments. https://t.co/NiOrDgbMRV
NFP Moved Ahead to Dodge Friday the 13th CPI Clash
Overheard "We preferred to release NFP today instead of Friday beause Friday is #Friday13th". CPI is on Friday.
USD Soft, JPY Squeeze Persists, Oil Spikes on Iran Tension
$USD is soft ahead of the delayed jobs report. Japanese markets were closed for a national holiday, but the dramatic short squeeze of $JPY continued. WTI is up ~2% as the US-Iran confrontation seems near a climax. ...
Nigeria's Inflation Surge Linked to Excess Money Supply
Nigeria’s inflation rate is DOUBLE NGA’s inflation target at 15.29%/yr. Nigeria’s money supply is growing at 15.19%/yr, ABOVE Hanke's Golden Growth Rate of ~11.83%-14.83%/yr, a rate consistent with Nigeria’s 6%-9%/yr inflation target. THE INFLATION STORY = A MONEY SUPPLY STORY. https://t.co/367h7H4ytf
Markets Await Jobs Data to Gauge Fed Cut Prospects
Will stock markets find enough to like in US jobs data? It’s all about Fed interest rate cut expectations. #Jobs #NFP #StockMarket #Dollar #Fed #Macro #Trading https://t.co/UBCpyuHxhZ
NFP Outlook: Expectation Management Raises 23K vs 15K
#NFP tomorrow. After yesterday's verbal managing of expectations from Hassett and Miran. Will NFP hit 23K ? 15K ?