No Surprises
The Official FiREapps Blog
Author Archives: Wolfgang Koester
Is Competitive Devaluation Beggar-Thy-Neighbor or Enrich-Thy-Neighbor? For Corporates, it Doesn’t Much Matter
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Wednesday, May 15th, 2013 at 4:21 pm |
Barry Eichengreen, a well-regarded economist and frequent commentator on global currency issues, published a report in January joining the conversation about whether bond buying and other expansionary monetary tools are “beggar-thy-neighbor” if they’re designed with the intention of stimulating domestic … more..
FiREapps Currency War Battlefield Report: Sweden, New Zealand, Australia, & Norway Join the Fray
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Tuesday, May 14th, 2013 at 10:00 am |
Currency wars are back in the news after the central banks of several countries entered the fray last week. Currency war battles in the Asia-Pacific Many of the most recent currency war battles have been precipitated by Japan’s continuing aggressive … more..
Companies Reporting Significant Negative Impacts from Venezuelan Bolivar
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Tuesday, May 7th, 2013 at 8:35 am |
It’s earnings season again, and as we predicted in February (see Another Shot in the Currency War: Venezuela Announces 32% Devaluation), the Venezuelan bolivar is at the top of the list of most impactful (and surprising) currencies for many corporates, … more..
FX Managers: Larger than 1-cent EPS Currency Impact Unacceptable
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Tuesday, April 16th, 2013 at 4:33 pm |
Are you a treasurer or FX manager? Do you have a management objective tied to FX gain/loss? If you do, you’re in good company. If you don’t, your peers do – and they’re better for it. Among the 37 FX … more..
It’s Yen Week, with Competitive Devaluation and Currency Wars Headlining
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Wednesday, January 30th, 2013 at 10:04 am |
Last week I blogged about my appearance on Bloomberg Television to detail why currencies are going to continue to be significant for MNCs and how some companies are mitigating the impact. The segment that ran just before mine was about how U.S. … more..
Themes We’re Watching in 2013: How Will China Liberalize the Yuan?
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Tuesday, January 22nd, 2013 at 11:21 am |
In 2012 U.S.-based multinational corporations had significant currency-related surprises: in the second quarter, they were surprised by negative currency impacts associated with euro volatility; in the third quarter, they were surprised by even larger negative currency impacts, despite relative stability … more..
Bloomberg Television: “Currency Volatility Really Does Make a Difference in Earnings Reports”
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Monday, January 21st, 2013 at 4:54 pm |
Last week Bloomberg Television featured a segment about the significant impact that currencies will have on corporations this earning season (watch it here). After explaining how currencies can impact multinational corporations, Bloomberg asked me to offer some detail on why … more..
Themes We’re Watching in 2013: The Euro Is Over
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Friday, January 18th, 2013 at 11:26 am |
Euro volatility had significant negative impacts on multinational corporations in a number of ways in 2012. In the second quarter, euro volatility caused billions in losses. Then in the third quarter, all eyes were on Europe, so corporate executives and … more..
Themes We’re Watching in 2013: Intensifying Global Currency Wars
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Tuesday, January 15th, 2013 at 1:53 pm |
In 2012 we saw countries from the United States and Switzerland to Japan, Brazil, China, and many others, engage in competitive devaluation in an effort to bolster their economies (a relatively weak currency makes that country’s exports relatively cheaper – … more..
Currency Volatility Affects Every Company Doing Business Across Borders, No Matter What the Size
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Monday, January 14th, 2013 at 3:38 pm |
At the end of Q3 2012 we announced the results of our research showing that analyst attention to currency impacts during corporate earnings calls increased dramatically in the second quarter, at the same time that the value of the dollar … more..
