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Lower gas prices power US retail sales to new record

By: New_Deal_democrat

This morning we got the first good evidence that the big decline in gas prices is helping American consumers. Retail sales ex- gas increased +0.9%. Total retail sales increased +0.7%. October retail sales were also revised up +0.2% to +0.5%. Here's the graph of retail sales since January 2013: Since inflation was unchanged in October, that means real retail sales in October set a new high. Read more

Russian Situation Deteriorates Further

By: HaleStewart

The Russian economic situation continues to deteriorate. Overall GDP growth has been deteriorating for the last three years. Starting in 2013, the annual rate of growth slowed to between .7% and 2%. However, the 2% rate of growth is clearly the outlier, as rates below 1% are obviously more common. Because over 50% of Russia’s exports and fiscal revenue spending come from the oil market, oil’s price collapse is adding to the problems. Read more

XE Market Analysis: North America - Dec 11, 2014

By: XE Market Analysis

The dollar rebounded after extending to fresh correction lows. Data misses in Japan and the U.K. helped support USD-JPY and weigh on GBP-USD. A plethora of central bank announcements brought mixed market responses. The NOK dove a 5-year low on an unexpected Norges Bank rate cut, while NZD-USD surged after the RBNZ lifted growth forecasts after leaving policy unchanged. Read more

XE Market Analysis: Europe - Dec 11, 2014

By: XE Market Analysis

The dollar posted fresh correction lows against most currencies, though subsequently recouped most of these losses. USD-JPY logged a two-week low at 117.43 before recovering the 118 handle. The rebound was aided by Japanese Oct machinery orders which dove 6.4% m/m, contrary to hopes for some modest improvement. Read more

XE Market Analysis: Asia - Dec 10, 2014

By: XE Market Analysis

The dollar was mostly lower in N.Y. trade on Wednesday, again moving over 1.24 versus the euro, though staying under Tuesday's peak of 1.2447. USD-JPY lost ground, though again, remained above the 117.97 base printed on Tuesday. Aside from weekly EIA petroleum inventory data, the U.S. Read more

XE Market Analysis: North America - Dec 10, 2014

By: XE Market Analysis

USD pairings traded within Tuesday ranges for the most part. There was some intraday chop with liquidity reportedly on the low side as year-end approaches. EUR-USD oscillated between 1.2362 and 1.2398. Several approves to 1.2400 were seen, but all met decent selling. Read more

XE Market Analysis: Europe - Dec 10, 2014

By: XE Market Analysis

The main currency pairings held within Tue ranges. Stock markets in Asia continued to fall amid concerns about the political situation in Greece and growth worries in China, while Fitch Ratings put Japan's sovereign ratings on Rating Watch Negative, citing high and rising government debt and increased uncertainty about the authorities' commitment to fiscal consolidation. Read more

XE Market Analysis: Asia - Dec 09, 2014

By: XE Market Analysis

The dollar headed broadly lower with equities and Treasury yields in N.Y. on Tuesday, as China bond collateral standards and Greek market turbulence turned the morning session into full-bore risk-off. The Shanghai equity market tumbled 5% on news that China authorities restricted use of corporate bonds as collateral, while the Greek government risks early elections, trying to establish cross party support ahead of the next round of negotiations with the troika. Read more

XE Market Analysis: North America - Dec 09, 2014

By: XE Market Analysis

The dollar remained on a generally softer footing following a period of outperformance. EUR-USD was supported by profit taking and the triggering of stops though 1.2345-50, making a two-day high at 1.2367. Higher than expected German trade surplus gave a fundamental underpinning. Read more

XE Market Analysis: Asia - Dec 08, 2014

By: XE Market Analysis

The dollar traded lower against the European majors in N.Y. on Monday, with profit taking the major driver, especially with EUR-USD and USD-JPY. The euro, sterling and yen all posted trend lows ahead of the open, and a good chunk of those moves were unwound through the session. Read more

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