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Weekly Indicators: signs of deceleration edition

By: New_Deal_democrat

The monthly data for August reported this week was mainly downbeat. Housing permits and starts were down, which impacted the Index of Leading Economic Indicators, up a modest +0.2. Industrial production and capacity utilization both declined. The Empire Manufacturing index improved, while the Philly Manufacturing index was less positive. Read more

XE Market Analysis: Asia - Sep 19, 2014

By: XE Market Analysis

After a hectic week, FX trade was fairly quiet in N.Y. on Friday, though the dollar was for the most part, stronger. EUR-USD made a marginal trend low, touching 1.2831, as USD-JPY bounced from 108.60 lows to a peak of 109.10. Yields slipped back slightly as Wall Street faltered moderately. Read more

International Economic Week in Review: OECD and IMF Issue Warnings

By: HaleStewart

This week, both the IMF and OECD issued policy papers that lowered growth projections for the advanced economies and argued that downward risk possibilities had increased. The issuance of both these documents provides a good opportunity to take stock of the economic position of the major NCM (non-currency manipulated countries) countries as well as highlighting the problems they are facing as outlined in these two reports. EU: The EU is easily the economy most at risk. Read more

XE Market Analysis: North America - Sep 19, 2014

By: XE Market Analysis

The dollar is generally firmer with EUR-USD lower by over 50 pips from yesterday's New York closing levels, having seen a low of 1.2866. A similar price action was seen in other pairings, including Cable, which dropped back under 1.6400 after logging a two-week high at 1.6525 as the market reacted to the decisive "No" to independence outcome of Scotland's referendum. Read more

XE Market Analysis: Europe - Sep 19, 2014

By: XE Market Analysis

Sterling rallied as Scotland voted "No" to independence, avoiding what would have been a chaotic break away from the United Kingdom. With 31 out of the nation's 32 council areas having declared after Thursday's vote, as of the time of writing, the No side has an unassailable lead. Read more

XE Market Analysis: Asia - Sep 18, 2014

By: XE Market Analysis

Post-FOMC profit taking weighed on the dollar in N.Y. trade on Thursday, despite firmer yields and another Wall Street rally. The greenback was supported briefly by a much lower than expected initial jobless claims print, though it appeared the FX market took advantage of the bounce to sell into. Read more

Housing: down m/m, but YoY trends show apartments still carrying the market

By: New_Deal_democrat

The first take from this morning's housing report was that it was poor. Several reports have emphasized a big drop in multi-unit permits and starts. As someone who came to the "Housing Slowdown" party early - i.e., at the end of last year, when most people were bullish, and who now believes that the bottom of the slowdown was early this spring, I see this report as consistent with some improvement in housing in the coming months. First, a quick recap. Read more

Understanding Yellen

By: HaleStewart

Yesterday the Fed announced in its statement that it would keep rates low for a "considerable time." However, Yellen's press conference all but made that point moot, as noted in the Financial Times article reviewing yesterday's Fed actions. While this might make Fed watching a bit confusing, three charts clarify Yellen's mindset. Read more

XE Market Analysis: North America - Sep 18, 2014

By: XE Market Analysis

The dollar has been mixed since the New York close yesterday, with USD-JPY extending to a fresh major-trend high of 108.67, before settling to the 108.30 area, while the greenback corrected some of the gains seen in the wake of the FOMC statement yesterday against the euro and other currencies. Read more

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