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International Week In Review: Frothy UK Housing Market Edition

By: HaleStewart

     While Australia printed little data, the RBA did release the minutes of the June 3 meeting.  Of particular interest was this passage regarding Australian wages: Read more

XE Market Analysis: Asia - Jun 20, 2014

By: XE Market Analysis

A quiet end to a relatively quiet week on Friday, with low volatility apparent in the FX market as Wall Street's VIX hit a seven year low. There was no data to drive the markets, and as a result, equities were near flat, Treasuries fairly steady, and the dollar in narrow ranges once again. Read more

XE Market Analysis: North America - Jun 20, 2014

By: XE Market Analysis

The USD perked up, aided by a fresh widening in the T-note over Bund yield spread that tested te 2006 high at 129 bp. EUR-USD tested sub-1.3600 levels and drifted lower from a high at 1.3634, though was unable to sustain losses below the figure as ECB's Coere said that asset purchases are not necessary at the current juncture. Read more

XE Market Analysis: Europe - Jun 20, 2014

By: XE Market Analysis

The USD maintained a steady-to-soft tone though the ranges in Asia so far have remained well within yesterday's. EUR-USD picked up from the low 1.36s and lifted to a 1.3634 peak, stalling here ahead of the London open, leaving yesterday's rebound peak at 1.3643 unchallenged. Read more

XE Market Analysis: Asia - Jun 19, 2014

By: XE Market Analysis

The FX market was very sleepy in N.Y. on Thursday, with narrow trading ranges again dominating. Overall, the greenback posted modest gains, taking EUR-USD toward 1.3600 from highs just over 1.3640. USD-JPY found support under 101.80, and managed to touch 102.00 before easing back again. Read more

XE Market Analysis: North America - Jun 19, 2014

By: XE Market Analysis

The USD continued to drift lower in the wake of the FOMC, which has seen Treasury yields dive as fears of a hawkish tint from the Fed failed to materialize. EUR-USD rallied to a 10-day peak of 1.3643, and Cable to a new major-trend peak at 1.7028, while AUD-USD clocked a peak of 0.9431, near the Jun-12 two-month high. Read more

XE Market Analysis: Europe - Jun 19, 2014

By: XE Market Analysis

The USD has traded lower in the wake of the FOMC, which saw Treasury yields dive as fears of a hawkish tint from the Fed failed to materialize. The 10-year T-note over Bund yield spread narrowed to a 120 bp handle after trading around 125 bp ahead of the FOMC announcement, and this underpinned a rebound in EUR-USD to a 10-day peak of 1.3599. Read more

XE Market Analysis: Asia - Jun 18, 2014

By: XE Market Analysis

The FX market moved at a snail's pace through the N.Y. session, with trade light into the FOMC announcement. There were few surprised from the Fed, and reaction as a result was muted. EUR-USD was trading near 1.3570 ahead of the announcement, and ranged between 1.3599 and 1.3549 immediately following, before steadying near 1.3570. Read more

The EU Is Still In a Recession

By: HaleStewart

Yesterday, Mark Thoma linked to a piece on Vox, which was itself a link to a posting from the CEPR. The topic was simple: did the last EU recession ever actually end? Here is their conclusion: The CEPR Business Cycle Dating Committee met on 11 June 2014 to determine whether the Eurozone is out of the recession that started after 2011Q3. Read more

The housing market: seller listings rise and fall with (after) sales prices

By: New_Deal_democrat

Once a week, Bill McBride a/k/a Calculated Risk posts a graph of the number of houses for sale nationwide in the United States. His point has been, generally, that while inventory has been rising, it isn't nearly as high as it was leading up to the housing bust. The relationship seemed more complicated than that. Read more

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