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XE Market Analysis: Asia - Apr 25, 2014

By: XE Market Analysis

FX trade was again lackluster on Friday, with little in the way of price action, and light volumes changing hands. EUR-USD idled inside a 1.3830-48 range, while USD-JPY moved briefly to 101.97, before recovering to 102.21. Some corporate earnings misses, along with geopolitical tensions in the Ukraine kept Wall Street well under water through the session, which also pushed Treasury yields lower. Read more

UK Recovery Gaining Momentum

By: HaleStewart

The UK started to print solid economic numbers in mid-2013. However, as this was a nascent recovery, caution was warranted. Now that we’ve had 6-9 months of solid numbers, it appears the UK is on its way to solid growth in the near future. Let's take a look at the numbers. The top chart shows the UK manufacturing PMI while the bottom chart shows the services PMI. Read more

XE Market Analysis: North America - Apr 25, 2014

By: XE Market Analysis

The USD was softer in quiet, relatively low volume trade. News that S&P downgraded its rating of Russia and an Interfax report that Moscow is ready for "unbiased and constructive" talks with the U.S. didn't cast much impact in the main currencies. Read more

XE Market Analysis: Europe - Apr 25, 2014

By: XE Market Analysis

It has been a quiet session in pre-European Asian trade, partly due to Australian and New Zealand being closed for the ANZAC Day public holiday. USD-JPY continued to gently oscillate in the low-to-mid 102s, EUR-USD flat-lined around 1.3830-35, and AUD-USD edged modestly higher, to the 0.9275-80 area. Read more

XE Market Analysis: Asia - Apr 24, 2014

By: XE Market Analysis

The dollar reacted to rumors of an "emergency" press conference from Putin, taking the greenback higher versus the euro and lower against the yen. Yields dipped, and equities sold off as well, though after a denial of such a presser, markets reversed themselves to a degree. Read more

XE Market Analysis: North America - Apr 24, 2014

By: XE Market Analysis

The euro rose on a strong German Ifo business sentiment reading only to be knocked lower by ECB Draghi's hammer, which took the form of a warning that a worsening inflation outlook would be a trigger for QE. EUR-USD dropped back to near net unchanged levels around 1.3820 after peaking at 1.3343 in the immediate wake of the Ifo release. Read more

US Slow Recovery Still Intact

By: HaleStewart

The Conference Board uses four statistics for its coincident US economic index. In order of importance, these are: total employees (51%), real income less transfer payments (22%), industrial production (14%) and manufacturing and trade sales (11%). While the US recovery has been -- and continues to be -- weak, all of these metrics are still pointing to modest expansion. Read more

XE Market Analysis: Europe - Apr 24, 2014

By: XE Market Analysis

The NZD was the sole mover in pre-Europe trade in Asia, rallying following a 25 bp rate hike by the RBNZ to 3.0%. The tightening was expected, but still elicited kiwi buying. NZD-USD logged a nine-day peak of 0.8636. USD-JPY didn't do much, opening in Tokyo around 102.45-50, dipping to a low of 102.24 and then settling around 102.35. Read more

New and Existing home sales show that increased interest rates and increasing sales prices are biting

By: New_Deal_democrat

Back in December, I wrote a post here at XE.oom saying that "Interest rates will negatively impact US housing in 2014." http://community.xe.com/forum/xe-market-analysis/rising-interest-rates-will-negatively-impact-us-housing-2014 While building permits, the specific metric I cited in my post, have not turned negative YoY at all in the first three months of 2014, every other US housing metric is now significantly negative. Housing starts are -59,000 YoY and -150,000 from their November 2013 peak. New home sales are also -59,000 YoY and -86,000 from their peak in January of this year. Existing home sales are -370,000 YoY and -790,000 from their peak in July 2014. This morning we had the worst new home sales report since October 2012. So let's take a look at both existing and new home sales for the US. Existing home sales are less important for the economy, but constitute about 90% of the total market. Read more

XE Market Analysis: Asia - Apr 23, 2014

By: XE Market Analysis

The dollar started the N.Y. Wednesday session under modest pressure, though eventually recovered some ground against the euro and CHF. As has been the case this week, ranges remained narrow for the major dollar pairings. USD-JPY found support near the week's low, hovering near 102.20-40 after struggling over 102.50 for several sessions. Read more


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