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The dollar was modestly higher in N.Y. trade on Monday, though the DXY managed better than two-week highs of 94.01. There was no data to drive markets, and the risk backdrop had little impact on the FX market, with both yields and stocks range bound. EUR-USD topped at 1.1763 into the London close, then later fell back to 1.1726 lows. Read more
OVERVIEW Sterling on the backfoot as markets prepare for UK GDP ahead of the interest rate announcement next week. Kiwi Dollar reaches a five-month low on labor government concerns. Donald Trump says he will decide on the next FED chair "very shortly". HIGHLIGHT The Pound is in the spotlight ahead of the much anticipated BOE's MPC interest rate announcement on November 2nd. Read more
The dollar has traded mixed in early-week trading so far, gaining on the euro and yen, but losing ground to sterling, the Canadian dollar and other dollar bloc currencies. The yen weakened in the wake of Japan's election, which returned Abe as prime minister with a resounding mandate for a continuation of 'Abenomic' policies, which favour ultra-accommodative monetary policy. Read more
This week’s news was mostly positive, but there were a few areas of weakness. The EU is beginning its second straight year of growth while Australia continues its nearly 20-year run of economic expansion. For the UK, however, concerns are mounting that Brexit will not end well. Read more
There are several ways to classify Federal Reserve governors. The most common is obviously hawks and doves, with the former arguing for rate increases to pre-emptively slow inflationary pressures while the latter are willing to let the economy run a bit hotter, allowing inflation to increase. Read more
This week’s news continued to show the US economy is expanding at a consistently modest pace. The latest Beige Book describes broadly positive economic news. Industrial production – a key coincident indicator – expanded, although this should be seen in the broader context of a fairly weak numbers for this expansion. Read more
September data included a negative reading of the leading economic indicators. If you take out the heightened initial jobless claims number due to the hurricanes, they were flat. Housing permits declined, but starts rose slightly. Existing home sales also rose slightly. Read more
OVERVIEW South African Rand slumps on rumors over sacking the deputy president. Kiwi Dollar continues to weaken after the formation of a coalition government earlier in the week. Sterling is weak as doubts arise over future interest rate hikes. US Dollar is higher as progress is made on tax reform. Read more
The dollar has rallied across the board, up 0.4% versus the euro and by 0.7% against the yen, following news that the U.S. Senate had passed a budget blueprint that will help push forward the Republican party's planned $1.5 tln tax cut. The news came after the close of Wall Street, and sparked a rally in U.S. Read more
