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Over the last 48 hours, several news releases indicate the UK economy is strengthening further, adding more upward pressure on the pound. Let's start with the index of production: •Production output increased by 3.0% between April 2013 and April 2014. Read more
The dollar firmed against a generally weak euro, but lost ground to the yen, sterling and the outperforming Australian and New Zealand dollars. EUR-USD carved out a fresh low of 1.3521 in Asia, and subsequently re-tested this level during the London AM. Read more
EUR-USD carved out a fresh low of 1.3521 before recouping to the 1.3545 area. This makes it the third consecutive lower low and brings last Thursday's post-ECB low at 1.3503 to within range. Driving the market is the eight-year high in the U.S. benchmark Treasury yield spread over Bunds. Read more
FX trade was very light in N.Y. on Tuesday, keeping EUR-USD inside a 1.3539 to 1.3557 band through the entire session. USD-JPY meanwhile, was confined to 102.22 to 102.41. Aside from U.S. wholesale data, there was nothing on the calendar to drive prices, as equities moved moderately lower, and Treasury yields a bit higher. Read more
There are several major events in currency trading that can alter the fundamental trajectory of a currency’s chart. Perhaps at the top of the list is a change in the home country’s interest rates. Below is a list of the big 6 currency countries -- the EU, UK, US, Canada, Japan and Australia – in order from the most likely to raise rates sooner to the most likely to raise rates later. Read more
A fresh dive in EUR-USD provided the main action, with the pair dropping quite sharply to a low of 1.3536 after couple of short-lived forays above 1.3600. The move has brought last Thursday's post-ECB low at 1.3503 back into scope. Stop selling was at play through 1.3575, and in EUR-JPY below 139.00. Read more
A decline in USD-JPY was the main show in town in pre-Europe Asian trade. The pair dipped below Monday's low to 102.27, with Friday's low at 102.11 back in in scope after the latest foray above 102.50 proved to be short lived. Decent selling from at the Tokyo fix today got the ball rolling in a market otherwise lacking strong leads. Read more
The dollar was mostly firmer in N.Y. trade on Monday, though trading ranges were very narrow. There was no data to drive markets, while Wall Street was moderately higher, along with Treasury yields. EUR-USD opened under 1.3620, and made its way to 1.3683 lows, before trading at 1.3580-90 through the afternoon session. Read more
The euro saw across-the-board weakness after an early London bid tampered out, while the dollar was mixed -- up on the euro but down versus the Aussie and Kiwi dollars, which benefited from a risk-on backdrop. Stock markets in both Asia and Europe rose on a much better than expected China trade surplus along with an unexpected upward revision to Japanese Q1 GDP, data which follow last week's ECB's stimulus and a fourth straight above-200k gain in U.S. Read more
The big news last week was the ECB finally stepping into the anti-deflation game. First, they cut interest rates by 10 basis, which is really more a symbolic move than anything. However, they are also charging banks 10 basis points to hold money at the ECB. Read more
