The eurozone countries have an imbalanced approach to jumpstarting their economies, relying only on monetary policy but failing to address fiscal issues such as punitive taxation and over-bloated entitlement spending.
Emerging-market stocks headed for the highest close in two weeks and most currencies strengthened on speculation China and the U.S. will maintain policies to support economic growth. Turkish shares rebounded.
If traders were to create a (false) dichotomy between weeks when G10 currencies are more volatile and weeks when emerging market currencies are more interesting, this week would undoubtedly fall into the former category.
American and European business groups have issued reports in recent days expressing concern that foreign firms have faced the brunt of antitrust scrutiny. The American Chamber of Commerce in China called China’s antitrust enforcement “selective and subjective.”