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XE Market Analysis: Asia - Dec 24, 2013

By: XE Market Analysis

FX trade was very quiet on Christmas eve in N.Y., with major dollar pairings holding inside of very tight ranges. Stronger durable goods orders, firmer housing prices, and improved new home sales helped sentiment, resulting in a firmer dollar, and yet another modest Wall Street rally. Read more

Double Top for EUR/USD?

By: HaleStewart

Above is a chart of the EUR/USD. Prices have broken the trend line connecting the lows of 11/20, 12/2 and 12/17. The candle leading to the 12/18 trend break was very strong, indicating downward momentum existed. Since the trend break, prices have moved higher, but the previous support line has become resistance -- as have the 10 and 20 day EMAs. Pulling the lens back a bit, we see a euro rally that started in early July and continued until recently. Read more

XE Market Analysis: North America - Dec 24, 2013

By: XE Market Analysis

The JPY traded lower and GBP eked out a modest gain following strong U.K. mortgage approvals data. Trade was otherwise pretty featureless languid Christmas Eve trade. USD-JPY lifted to 104.41 during the Tokyo morning The yen followed its usual risk-on correlation, weakening as stocks rallied after the PBoC drove down money market rates in China USD-JPY soon ran out of steam, however, and last week's major-trend peak of 104.63 was left unchallenged and the pair settling back to 104.20-30 levels. Read more

XE Market Analysis: Europe - Dec 24, 2013

By: XE Market Analysis

The JPY traded lower in otherwise pretty featureless trade. USD-JPY lifted to 104.41 during the Tokyo morning, with markets there reopening after yesterday's holiday and reacting to Friday's strong GDP data out of the U.S.. This prompted the Nikkei 225 equity index to rally, and it lifted above its 16k level for the first time since 2007, with the yen following its normal risk-on correlation by declining. Read more

XE Market Analysis: Asia - Dec 23, 2013

By: XE Market Analysis

There was a little ebbing and flowing though volumes and market participation were low in typical Christmas week trade. EUR-USD settled around 1.3700, and USD-JPY around 104.00, with the dollar in a broad consolidation mode after last week's advance following the Fed taping announcement. Read more

XE Market Analysis: North America - Dec 23, 2013

By: XE Market Analysis

Quiet trade today, with little movement or activity during the European AM session in and Asia. Japan was closed, and volumes will remain extremely thin until the new year. The main news developments included continued perkiness in China's month market rates, though Chinese and Hong Kong shares managed to lift from four-month lows on news that the Chinese central bank's put in $50 billion last week to interbank markets. Read more

XE Market Analysis: Europe - Dec 23, 2013

By: XE Market Analysis

Very little movement or activity have been seen in the pre-Europe session in Asia. Japan is closed today, and volumes will remains extremely thin until the new year. The main news developments was continued perkiness in China's month market rates, though Chinese and Hong Kong shares managed to lift from four-month lows on news that the Chinese central bank's put in $50 billion last week to interbank markets. Read more

Monthly Pound/Yen Chart Is Bullish

By: HaleStewart

, Sometimes it's important to take a long view to better understand current market developments. Case in point: above is a monthly chart of the pound/yen. The yen rose from the end of the recession until the Bank of Japan announced its massive quantatative easing program last year. Read more

Weekly Indicators: coincident indicators soften in December edition

By: New_Deal_democrat

In the rear view mirror, 3rd quarter GDP was revised up to a strong +4.1%. Productivity was up; unit labor costs were down (which I take as a negative). Leading Economic Indicators for November were up sharply, suggesting good growth will continue through the first half of 2014. Read more

International Week In Review: Let the Tapering Begin

By: HaleStewart

The biggest news last week was the Federal Reserve's announcement that they would start the tapering process. Here is the exact wording from their press release: Beginning in January, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $35 billion per month rather than $40 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $40 billion per month rather than $45 billion per month. Read more

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