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Month-end backed demand bolstered EUR-USD in N.Y. on Thursday, taking the pairing under 1.3600. Meanwhile, USD-JPY was fairly steady, and well supported over the 98.00 mark. U.S. data helped sentiment to a degree, as jobless claims came in near consensus, and the Chicago PMI headline and components were much firmer than expected. Read more
The dollar maintained the month-end bid after yesterday's FOMC policy statement boosted yields. The statement was less dovish than most market participants had expected, which reinforced the short term dollar tone. Into the Fed meeting dollar buying was notable and weaker technical studies for EUR, GBP and AUD reinforced this tone. Read more
On Friday, the Department of Labor will issue the latest employment report. However, regardless of the numbers (and according to the latest ADP report, the report will be weak) the overall US jobless situation is still poor five years after the end of the recession. Read more
The dollar was fairly steady through the morning session Wednesday, with a modestly negative bias on the back of a softer ADP employment report, and a tamer core CPI reading. Activity was light overall into the FOMC announcement, though rallied in the immediate aftermath. Read more
The dollar maintained a supportive tone for the most part amid month-end related activity ahead of today's FOMC outcome, which is likely to be uneventful in respect of policy developments. However, market participants will be interested to see how the Fed views the U.S. Read more
The dollar maintained its month-end bid during the Asian session and ahead of today's FOMC, which is likely to be uneventful in respect of policy developments. However, market participants will be interested to see how the Fed views the U.S. government shutdown and the potential impact on Q4 growth. Read more
The dollar was choppy in N.Y. trade on Tuesday, with liquidity at a premium into Wednesday's FOMC meeting. U.S. economic data was mixed, with headline PPI a touch cooler, along with softer headline retail sales. Consumer confidence took a hit after the federal government shutdown, though housing prices firmed up per the Case-Shiller index. Read more
Today, the Reserve Bank of India raised interest rates an additioinal 25 basis points. To place this decision in context, consider the following three charts: Read more
The dollar maintained a supportive tone overnight, which was reportedly due to month-end related demand and forced EUR towards 1.3750 and left Cable under 1.6100. European trade was relatively quiet. The only notable data releases were U.K. mortgage approvals, which hit five year highs. Read more
The dollar maintained a supportive tone overnight. Activity in Asia was dominated by a sharp drop in AUD-USD, which encouraged EUR-USD selling and relatively heavy selling in Cable. The trigger for AUD were comments from RBA Governor Stevens, who said that AUD was likely to be materially lower in the future and also gave a fairly subdued economic outlook. Read more
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