The Swiss franc (CHF) tends to gain in times of market stress, especially when the risks emanate from within Europe. The franc has finally turned positive for the year up 1% against the USD and up 6.5% against the euro (EUR) on the back of Italian political worries, emerging market volatility and global trade spats….

The U.S. Dollar has paused in its rally higher. But is the end of the rally or just a pause? There are two factors to the recent USD strength; 1. Increase inflows into U.S. equites and Treasuries based ‘safe haven’ perspective and, 2. External factors from global trade tensions and emerging market weakness. Last year…

The Turkish Lira is in the grip of one of the worst routs as the currency slumped for the fourth day to hit a new record low. The selloff is spreading to other emerging market currencies after Turkey’s President Recep Tayyip Erdogan shows no signs of backing down in the escalating standoff with the United…

The current selloff in emerging markets (EM), which has rattled markets including Argentina, Brazil and Turkey, saw USD$12.3 billion of foreign money leave emerging markets during May. While there is no single reason, we point to a combination of factors including a stronger U.S. dollar and higher U.S. debt costs. Countries with some combination of…

President Trump has withdrawn from the 2015 Iran nuclear agreement and re-imposed economic and sanctions that will impose restrictions on the country’s oil exports. As a result, both Brent Crude and West Texas Intermediate were near their highest levels not seen since late 2014. Despite the U.S exiting the 2015 accord, it is not clear…

The price of aluminum stabilised after three weeks of intense volatility after the United States decided to ease sanctions against United Co. Rusal. The Russian company is the largest supplier of metal outside of China and producers around 6 percent of global aluminum supply, making everything from cans to cars to aircraft manufacturing. When the…

Production cuts by OPEC and Russia over the past 16 months and the risk for Middle East conflict on the rise, crude oil prices have rallied more than 10 percent this year reaching their highest level since 2014. Higher oil prices comes as OPEC and Russia explore further cooperation and a May 12 deadline looms…

Copper prices leapt to near four-year highs after a jump in China’s imports of the metal in November boosted expectations of stronger demand. In addition, the government has ordered its top copper producers to halt output to combat winter pollution. HXL expects the price of copper to rise to $7,400 a ton in 2018 as…

  The US Dollar has underperformed this year and despite the recent increase, HXL expects the Dollar to weaken against the Euro and the Yen. Even though the Federal Reserve has increased interest rates twice this year (and expected to increase rates again tomorrow), stronger economic growth and tighter monetary policy across Europe and emerging…

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