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The dollar was mixed in N.Y. trade on Wednesday, posting fresh trend losses versus the euro, while bumping along the bottom of its range against the yen. EUR-USD managed 1.3794 highs, as USD-JPY hugged the 97.25 mark, as risk appetite reversed lower. A dovish BoC statement allowed USD-CAD to move toward the 1.0400 mark making highs last seen on October 11, over 1.0390. Read more
A recent Bloomberg article highlighted the general consensus that Australia will not be lowering rates anytime soon, largely because their previous rate cuts are already filtering through the economy leading to a better overall growth picture. But here, I will make the argument the RBA should cut rates an additional 25 basis points for two reasons: growth is still below par and the Aussie has recently risen to a high enough level to slow exports and therefor overall growth.First, let’s provide a bit of historical background for the Australia. Read more
European markets were dominated by risk aversion after Asia experienced an afternoon move out of speculative positions after a Bloomberg story highlighted a rise in China bad loans. Investors in the region were also a concerned over a tightening in China liquidity conditions, which triggered the downturn in equity markets. Read more
The Asia session was dominated by an afternoon move out of speculative positions after a Bloomberg story, which highlighted a rise in China bad loans, unnerved investors. AUD-JPY turned sharply from 95.65 to hit 93.77 lows and this had a knock on impact on USD-JPY and AUD-USD. Read more
- by New Deal democrat The headline for September2013 employment is that 148,000 jobs were added, and the unemployment rate decreased from 7.3% to 7.2%. July was revised yet lower (under 100,000) and August were revised higher, for a net gain of 9,000 . Read more
FX trade was extremely subdued again overnight, with major the dollar pairings stuck inside narrow ranges. The focus was firmly on the U.S. today as the economic data schedule picks up as some of the postponed data from early October are due for release. Read more
FX trade was extremely subdued again overnight after extremely low volumes on Monday, with major dollar pairings stuck inside narrow ranges. The dollar was marginally higher as a result of light profit taking, leaving EUR near 1.3665, USD-JPY close to 98.30 and Cable around 1.6120. Read more
The Financial Times Lexicon dictionary defines Abenomics thusly:Abenomics is the name given to a suite of measures introduced by Japanese prime minister Shinzo Abe after his December 2012 re-election to the post he last held in 2007. His aim was to revive the sluggish economy with "three arrows": a massive fiscal stimulus, more aggressive monetary easing from the Bank of Japan, and structural reforms to boost Japan's competitiveness.From an economic perspective, this policy is starting to work. Read more
The US Federal Reserved issued the Beige Book -- a compilation of anecdotal information from each Federal Reserve District -- last week. The district level information is presented in economically logical “nuggets” such as personal consumption expenditures, real estate and employment. Read more
- by New Deal democratThe government shutdown prevented the reporting of housing permits and starts. Due to the missing data, the Conference Board did not report the Leading Indicators for September. The Empire Manufacturing index decelerated but was still positive, and the Philly Fed index accelerated and remained positive.Fortunately, none of the high frequency weekly indicators I report on were affected by the shutdown, except for the need to estimate YoY inflation for one series. Read more
![](http://www.facebook.com/sharer.php?s=100&p[title]=Abenomics: GDP Bullish But Yen Bearish&p[url]=/blog/xe-market-analysis/abenomics-gdp-bullish-yen-bearish&p[summary]=The Financial Times Lexicon dictionary defines Abenomics thusly:Abenomics is the name given to a suite of measures introduced by Japanese prime minister Shinzo Abe after his December 2012 re-election to the post he last held in 2007. His aim was to revive the sluggish economy with "three arrows": a massive fiscal stimulus, more aggressive monetary easing from the Bank of Japan, and structural reforms to boost Japan's competitiveness.From an economic perspective, this policy is starting to work.&p[images][0]=https://xecommunityassets.s3.amazonaws.com/japan-gdp-growth.png){kind=link}
