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OVERVIEW The Greenback trading soft against the G-10 currencies. US Sanctions and tensions in the Middle East send the WTI trading at $ 71.45, the highest level since November 2014. SEK records the biggest advance on the day with less dovish Riksbank minutes. HIGHLIGHT Politics once again take the center stage in dictating the direction and pace in the currency market. Read more
The dollar has traded softer for a second day. The USD index (DXY) edged out a four-day low at 92.63, which is nearly 1% off the five-month high that was seen on Wednesday. EUR-USD remained below the rebound high posted yesterday, but lifted back above 1.1900 after dipping to an intraday low at 1.1891, suggesting the pairing has underlying demand after posting its first back-to-back daily gain since mid April. Read more
The dollar has come off the boil over the last couple of days. Softer than expected CPI out of the U.S. has taken an edge out of Fed tightening expectations, which led to the dollar losing some of its traction. EUR-USD posted the first back-to-back daily since mid April, rising to a three-day peak of 1.1946 yesterday after extending the rebound from the four-month low that was seen on Wednesday at 1.1822. Read more
Cooler U.S. CPI figures dented the dollar in N.Y. trade on Thursday, sending the DXY to lows of 92.55 from near 93.00. EUR-USD ran up to 1.1946 highs from around 1.1880 into the data. USD-JPY bottomed at 109.32 from pre-open highs of 109.73. USD-CAD stayed heavy as oil prices remained high, while cable fell to trend lows of 1.3460 following inaction from the BoE.[EUR, USD]EUR-USD remained above Wednesday's trend low of 1.1822 through the session, rallying to highs of 1.1946 in the aftermath of the cooler U.S. Read more
OVERVIEW US Dollar is generally weaker as market sentiment remains positive. Emerging market currencies among top performers on the day after US yields dip from recent highs, many still close to record lows. GBP slide continues after dovish BoE and softer economic data. New Zealand Dollar slides after central bank mentions interest rates moving down. Read more
Today is a good opportunity to update two long leading indicators. First, one of the two most positive leading indicators for the economy is the provision of credit (the other is the record low rate of initial jobless claims. Credit as reported earlier this week the Fed's Senior Loan Officer Survey has almost always turned tighter at least one year before the onset of a recession. Read more
The dollar came off the boil after logging new highs against the euro and some other currencies. Dollar supply from a 3% spike in oil prices (at the intraday highs), which was a consequence of the U.S. breaking from the Iran nuclear deal, was mooted in market narratives as driving the pullback in the greenback. Read more
USD-JPY edged out an eight-day high at 109.92 during the Tokyo session, but left the recent trend high at 110.03 unchallenged. The yen maintained a relatively soft tone amid a backdrop of stock market gains on Wall Street and in Asia. Oil prices, meanwhile, logged a new 42-month high. Read more
The dollar came off the boil on Wednesday, taking the DXY to lows of 92.84 early in the N.Y. session, down from overnight trend highs of 93.42. The greenback perked up some later in the session, seeing the dollar index recover to 93.15. Softer U.S. core PPI weighed on the USD initially, though buyers quickly returned. Read more
OVERVIEW Euro rebounds from lowest since December remain weak. British Pound stabilizes despite slump in retail sales. Japanese Yen softened as risk appetite recovers. Turkish Lira rebounds from record low versus US Dollar after central bank action. Swedish Krone gains over 1% after inflation remains close to central bank's target. HIGHLIGHT The Canadian Dollar is higher versus its US counterpart, rebounding from a 7-week low as oil prices surged to fresh multi-year highs following President Trump's announcement on the Iran nuclear deal yesterday. Read more
