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The USD came under general pressure, led by EUR-USD and Cable following strong data out of the Eurozone and the U.K. EUR-USD rallied on upside surprises in Italian and Spanish PMI numbers, peaking 1.3931, a seven-week high and nearly 50 pips up on levels seen at the London opening. Read more
Another quiet session has been seen in Asia with both Tokyo and Hong Kong closed today. USD-JPY has seen little more than a 10-pip range around 102.00-102.20 while EUR-USD has been side-lining around 1.3880. AUD-USD saw a brief foray above 0.9300, making a high of 0.9317, before quickly settling back to levels around 0.9275-80. Read more
FX trade was very quiet in N.Y. on Monday, as a London bank holiday kept liquidity and interest on the light side. Major dollar pairings remained inside well-worn, and narrow trading bands through the session. Better than expected U.S. non-manufacturing ISM data helped the greenback marginally, and helped USD-JPY claw back a toe-hold on the 102.00 handle. Read more
Trade was quiet with London closed for a U.K. public holiday. USD-JPY dipped below 102.00 for the first time in nearly three weeks as the yen found support amid a risk-off theme in Asia following a sub-expectations final reading of China HSBC-Markit manufacturing PMI for April, which came in at 48.1 versus the expected 48.4. Read more
USD-JPY dipped below 102.00 for the first time in nearly three weeks as the yen found support amid a risk-off theme in Asia following a sub-expectations final reading of China HSBC-Markit manufacturing PMI for April, which came in at 48.1 versus the expected 48.4. Read more
The big monthly data for April reported this past week was the big payrolls number and big drop in the unemployment rate. The labor force declined by nearly a million, which the BLS said was because of a lack of new entrants in the past month,which is a little strange. Also for April, motor vehicle sales declined slightly m/m, and have generally been flat for nearly a year. Read more
The biggest news events this week came from the US, starting with the Fed announcing a further reduction in its asset purchase program. After noting the US economy is still expanding -- albeit against some moderate headwinds -- they announced: Beginning in May, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $20 billion per month rather than $25 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $25 billion per month rather than $30 billion per month. Read more
The dollar rallied broadly after the much better April NFP print. Treasury yields moved higher, as U.S. equities found a modest bid as well. The greenback bumped along near its highs through mid morning, though from there, gave back all its gains, and then some. Read more
The dollar was firmer as markets discount upside risk to today's payrolls report, with the whisper number pegging a 250k rise versus the median for 210k. EUR-USD fell to a 1.3852 low, breaching Thursday's low on route, though this is still barely more than 40 pips below yesterday's high. Read more
The USD firmed slightly in quiet trade in the pre-European open Asia session, with staffing levels depleted by people taking the 'bridge weekend' vacation break following yesterday's May Day holiday. Market participants were also sitting on their hands ahead of the U.S. Read more
