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The dollar fell against the European majors and the CAD in N.Y. on Tuesday, with EUR-USD printing 10-month highs of 1.1343 following hawkish comments from ECB chief Draghi. Cable was dragged higher as well, topping 1.2800 for the first time in over a week. Read more
OVERVIEW The Bank of England tightened its credit rules for banks to cool borrowing, particularly by consumers. The Confederation of British Industry (CBI) said its monthly retail sales balance rose to +12 in June, far exceeding forecasts of +2. U.S house price growth unexpectedly slowed to 5.7% last month. U.S. Read more
The dollar traded generally softer today as markets continued to digest yesterday's sub-forecast U.S. durable orders report and softening price indicators in the Dallas Fed index. The narrow trade-weighted USD index was showing a 0.5% decline as of the early European PM session, just above the low at 96.58, which is a two-session low. Read more
The dollar majors remained in fairly narrow ranges, though there has been some movement. AUD-USD logged a one-week high of 0.7609, while USD-JPY logged a five-week high at 112.07 before turning lower, to around 111.70. The retreat in USD-JPY came after the U.S. Read more
The dollar slipped early on the back of a disappointing durables report, taking EUR-USD to eight session highs of 1.1219 from opening lows near 1.1180. The pairing later eased into 1.1176 lows after the London close. USD-JPY dipped from 111.70 to 111.36 lows after the data, though later printed 111.90, a one-month high. Read more
OVERVIEW FX markets remain subdued, but global stocks are broadly higher. Theresa May has secured the support of the DUP party, giving her a narrow and fragile majority in parliament. UK annual consumer lending growth slowed to 5.1% in May, down sharply from 6.4% in April. The British Bankers Association reported a further dip in the number of mortgages approved last month to 40,347. U.S. Read more
The dollar perked some after edging out fresh lows against a number of currencies, including sterling and the commodity units. USD-JPY was a driver, with the yen itself coming under broader pressure amid a risk-on backdrop, with stock markets across Asia and Europe rallying today. Read more
The dollar has traded steady-to-softer so far in early-week trading, though USD-JPY is an exception, with the pair nudging to a two-session high of 111.38 as the yen came under a phase of selling. Stock markets have rallied in Asia, aided by a 1%-plus gain in oil prices, gaining for a third consecutive session, which has given an incentive to short the Japanese currency. Read more
There is good and bad news in this week’s macro headlines. On the bullish side, the World Bank has increased their latest global growth forecast, which they project to reach 2.7% by the end of the year. This is consistent with the increased levels in the Markit PMIs that started in 4Q16. Read more
 said its monthly retail sales balance rose to +12 in June, far exceeding forecasts of +2.
U.S house price growth unexpectedly slowed to 5.7% last month.
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