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The dollar hit new trend lows in late Asia, but then experienced a light recovery over the European morning. EUR made several attempts on the 1.3830 area, but an unexpected drop in the German Ifo and option price congestion triggered a move back below 1.3800. Read more
The dollar maintained softer levels, though against the commodity bloc currencies it continued to hold up following Thursday's liquidation of stale long positions. There was further reports of Asia reserve diversification out of the dollar, which benefited EUR and GBP, while AUD also saw residual inflows. Read more
The dollar firmed versus the commodity bloc, was softer against the euro and pound, and largely unchanged versus the yen in N.Y. trade on Thursday, a slightly wider trade deficit, and higher jobless claims data had little lasting impact. Yields remained relatively soft, as Fed tapering seems to be a long way off still, which will likely continue to be a detriment to the greenback. Read more
The dollar continued to underperform, which lifted EUR through 1.3800 barriers and left the CHF just shy of 0.8900. In early Europe short term accounts took their impetus from a better than expected China flash manufacturing PMI reading. However, early appetite to sell JPY ran out of stream as Eurozone PMI unexpectedly decline and later in the session U.K. Read more
Ranges remained narrow in Asia, leaving the FX majors close to Wednesday N.Y. closing levels. The dollar remained heavy, leaving EUR close to outstanding option barriers at 1.3800 and USD-JPY moved along the bottom of the recent range near 97.25. AUD moved over 0.9650 after it benefited from HSBC China flash manufacturing PMI, which came in at 50.9 in October from 50.2 in September. Read more
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
