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XE Market Analysis: Europe - Jun 13, 2014

By: XE Market Analysis

GBP surged on hawkish BoE speak with BoE's Carney signalling at a keynote speech last night that interest rates could rise sooner than markets expect and that the housing market was now "the greatest risk to the domestic economy." This will invite markets to re-price in a 25 bp hike before year-end. Read more

XE Market Analysis: Asia - Jun 12, 2014

By: XE Market Analysis

The dollar lost some ground in N.Y. on Thursday, taking its initial lead from softer retail sales data, and a modest miss in initial jobless claims. Treasury yields slipped lower as did equities, weighing on the greenback generally. Heating up of tensions in Iraq likely spooked Wall Street to a degree, with Obama saying all options remain on the table with regards to help the beleaguered country. Read more

Mortgage refinancing and the danger of a 2H 2015 recession

By: New_Deal_democrat

Yesterday the Mortgage Bankers Association reported that applications for refinancing had increased by 11% in the past week. Sounds like great news, right? Except that mortgage refinancing is so low right now that even that kind of percentage increase barely makes a dent in the absolute decline in refinancing since rates rose a year ago. Read more

XE Market Analysis: North America - Jun 12, 2014

By: XE Market Analysis

The dollar gained against an underperforming euro, but was steady versus the yen and fell against sterling and the dollar bloc currencies. EUR-USD edged out a new low at 1.3512, bringing last week's post-ECB low of 1.3503 within shot, though dollar weakness elsewhere stilted downside progress. Read more

XE Market Analysis: Europe - Jun 12, 2014

By: XE Market Analysis

The NZD surged on the RBNZ rate hike and guidance, as the central bank signalled further tightening to come, albeit projecting a slightly more gradual run of increases than expected in March. Today's 25 bp hike, the third so far this year, takes the official cash rate to 3.25% and left its forecast of the 90-day bill rate unchanged, which suggests two more quarter-point hikes are in the pipeline. Read more

XE Market Analysis: Asia - Jun 11, 2014

By: XE Market Analysis

There was not much excitement in FX Land in N.Y. on Wednesday, with the greenback turning mixed early, before flat-lining for much of the remainder of the session. EUR-USD touched highs of 1.3655 early, then settle into a 1.3525-40 band into the close. Read more

Recent UK Numbers Point to Stronger UK Economy and Pound

By: HaleStewart

Over the last 48 hours, several news releases indicate the UK economy is strengthening further, adding more upward pressure on the pound. Let's start with the index of production: •Production output increased by 3.0% between April 2013 and April 2014. Read more

XE Market Analysis: North America - Jun 11, 2014

By: XE Market Analysis

The dollar firmed against a generally weak euro, but lost ground to the yen, sterling and the outperforming Australian and New Zealand dollars. EUR-USD carved out a fresh low of 1.3521 in Asia, and subsequently re-tested this level during the London AM. Read more

XE Market Analysis: Europe - Jun 11, 2014

By: XE Market Analysis

EUR-USD carved out a fresh low of 1.3521 before recouping to the 1.3545 area. This makes it the third consecutive lower low and brings last Thursday's post-ECB low at 1.3503 to within range. Driving the market is the eight-year high in the U.S. benchmark Treasury yield spread over Bunds. Read more

XE Market Analysis: Asia - Jun 10, 2014

By: XE Market Analysis

FX trade was very light in N.Y. on Tuesday, keeping EUR-USD inside a 1.3539 to 1.3557 band through the entire session. USD-JPY meanwhile, was confined to 102.22 to 102.41. Aside from U.S. wholesale data, there was nothing on the calendar to drive prices, as equities moved moderately lower, and Treasury yields a bit higher. Read more

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