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The AUD rallied following stronger than expected Australian employment data, which rose 14.2k in April, and above-forecast trade numbers out of China, which helped feed a risk positive session in Asia Pacific markets. AUD-USD rose above 0.9390 for the first time since Apr-15. Read more
The dollar largely meandered inside narrow trading bands in N.Y. on Wednesday, though overall, retained a slightly firmer bias. EUR-USD and cable jockeyed near the bottom of their recent ranges ahead of Thursday's BoE and ECB meetings, where no policy changes are expected. Read more
Unit labor costs are a measure of productivity: how much does business pay a worker in order to get one unit of production? Read more
No big moves today were seen during the Asian and European AM sessions. USD-JPY clocked a three-week low of 101.43 during Tokyo trade before settling back above 101.50. Hefty Nikkei losses amid a general risk-off environment along with the minutes to the Apr 7-8 BoJ meeting supported the yen. Read more
USD-JPY fell below 101.50 for the first time in three weeks, while EUR-JPY clocked a one-week low. Hefty Nikkei losses amid a general risk-off environment along with the minutes to the Apr 7-8 BoJ supported the yen. The minutes signalled that the central bank doesn't see that an expansion in its already aggressive policy would be necessary. Read more
Last week, Portugal announced that it was emerging from its bailout without a safety net. This was greeted as a somewhat vindication of the austerity policies the Portuguese government utilized in order to qualify for the bail-out package. But a deeper look at the relevant statistics shows the policies implemented as a result of austerity did more harm than good. Let's begin with a working definition of austerity. Read more
The dollar lost ground again in N.Y. on Tuesday, sliding toward 101.50 versus the yen, and maintaining altitude near 1.3950 against the euro. With the odds of further BoJ and ECB easing slipping, the dollar could remain under pressure for now. Cable traded to near 1.7000, with only reported barrier option defense keeping the pairing on the 1.69 handle. Read more
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
