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XE Market Analysis: US Dollar Broadly Lower Ahead of the Fed

By: xemarketanalysis

OVERVIEW NZD is out-performing on latest poll showing ruling National Party ahead of Labour. GBP boosted by strong August retail sales fails to hold gains. AUD testing higher after comments from the RBA's Luci Ellis on the global economy. Brent crude oil prices at highest since July 2015. HIGHLIGHT The market pricing for US interest rates out to June next year is only pointing to one interest rate with the June 2018 contract at 98.6. Read more

Housing permits: restrain your enthusiasm (Part 1 of 2)

By: New_Deal_democrat

Hurricane Harvey almost certainly had an effect on the August housing report, and Irma will like join it in affecting the September report as well. Here is the Census Bureau's statement, in relevant part, on the effect of the hurricanes: They specifically note in the same statement that they made no special adjustment in the reported numbers as a result. But, first things first. Read more

XE Market Analysis: North America - Sep 20, 2017

By: XE Market Analysis

The dollar traded generally softer as markets anticipate the Fed's policy announcement and statement. The pound was notable today as it rallied strongly on above-forecast retail sales data out of the UK, but subsequently gave back most of its gains as the latest tri-monthly BoE agents survey of anecdotal activity made for less rosy reading.[EUR, USD]EUR-USD lifted to a nine-session high at 1.2020, despite a report yesterday of there not being a consensus among ECB policymakers about when to begin tapering. Read more

XE Market Analysis: Europe - Sep 20, 2017

By: XE Market Analysis

The euro has remained bid, despite a report of there not being a consensus among ECB policymakers about when to begin tapering. EUR-USD logged a nine-day high at 1.2020 and EUR-JPY remaining buoyant, although below the 22-month high seen yesterday. USD-JPY, meanwhile, has settled to a consolidation after rallying quite strongly over the last week amid a risk-on backdrop in global financial markets, which the yen tends to correlate inversely to, and as markets anticipate the Fed and BoJ policy announcements, due today and tomorrow, respectively. Read more

XE Market Analysis: US Dollar Remains Soft as Fed Meeting Begins

By: xemarketanalysis

OVERVIEW US housing starts fell for a second straight month, and building permits rise. German ZEW survey stronger than expected, economic sentiment index rises to 17.0 from 10.0 in August. GB Pound jumps 0.5 cents versus US Dollar after reports on Boris Johnson resign. Euro slips after ECB sources say board split on setting an end date for bond purchases. Aussie Dollar sees limited impact from upbeat RBA minutes. HIGHLIGHT The US Dollar is down against an overwhelming amount of currencies as the unexpected Trump victory rally ended abruptly. Read more

XE Market Analysis: Asia - Sep 19, 2017

By: XE Market Analysis

The dollar stumbled some early in the session in N.Y. on Tuesday, though was little impacted by the combination of firmer import prices, a wider current account deficit, and near in-line housing starts. Risk appetite perked up some, allowing the greenback to hold its own through the close. Read more

XE Market Analysis: North America - Sep 19, 2017

By: XE Market Analysis

The dollar has traded mixed into the New York interbank open and into the start of the two-day FOMC, posting fresh highs versus the yen and Swiss franc, firming against the pound, while seeing new lows against the euro and Australian dollar. This partly reflects that markets have low expectations from the Fed with regard to tightening guidance, anticipating the central bank to announce the start of a gradual process to unwind its balance sheet, but not much beyond that. Read more

XE Market Analysis: Europe - Sep 19, 2017

By: XE Market Analysis

The yen continued to weaken and the euro outperform, which drove EUR-JPY, now up in eight of the last nine sessions, to a 22-month peak at 134.14. USD-JPY, meanwhile, logged a new two-month high, at 111.88. Markets are factoring in the BoJ to affirm that it remains committed to ultra-accommodative monetary policy at its post-policy meeting announcement on Thursday, given the cool inflation backdrop and continuing concerns about the self-sustainability of economic growth, for the this to emphasize a contrasting bias to other major central banks, which are at varying stages of slow-go policy normalization. Read more

XE Market Analysis: British Pound Slips as Governor Warns of "Considerable Risks"

By: xemarketanalysis

OVERVIEW Majority of FX relatively quiet ahead of the FOMC meeting. GBP under pressure after the best week in years. US stocks hit fresh highs and safe-haven Yen under pressure as risk sentiment improves. Eurozone CPI confirmed at 1.5% in August. HIGHLIGHT The British Pound saw its rally brought to a halt as traders took profit from the currency's 3% rally last week, with most of its gains coming on Thursday and Friday of last week. Read more

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