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International Week in Review: UK Data Disappoints Edition

By: HaleStewart

While the UK has been on an economic tear since the first of the year, this week the UK issued several reports containing weaker data. While both manufacturing and production numbers were up Y/Y, they decreased 1.3% and .7% M/M, respectively. As these charts of the data demonstrate, the monthly decreases should be placed in their short-term perspective of solid growth; these figures most likely represent a slight “cooling off” from a torrid pace of growth since the first of the year. Read more

XE Market Analysis: Asia - Jul 11, 2014

By: XE Market Analysis

The dollar was mixed in N.Y. trade on Friday, though continued its recent trend of maintaining very narrow trading ranges. USD-CAD was an exception, as it rallied fairly sharply after a big Canadian jobs report miss. That pairing moved up 100 points to over 1.0735, decisively breaking out of its recent trading band. Read more

XE Market Analysis: North America - Jul 11, 2014

By: XE Market Analysis

The dust settled today, which saw USD-JPY find its feet after yesterday's dive and EUR-USD consolidate in the low 1.36s as contagion proved to be limited from the missed debt repayment by a company client of Portugal's Banco Espirito Santo. Most dollar pairings remained within yesterday's range, though USD-CAD was an exception in dipping to a one-week low at 1.0630 as the market anticipates a firm employment report out of Canada later. Read more

XE Market Analysis: Europe - Jul 11, 2014

By: XE Market Analysis

The dollar majors are near net unchanged following an uneventful pre-Europe session in Asia. The AUD wobbled following mixed housing finance data, with the above-forecast headline offset by less encouraging details, but overall impact was limited and AUD-USD remained well within its yesterday range, posting a 20 pip rang in the high 0.93s. Read more

XE Market Analysis: Asia - Jul 10, 2014

By: XE Market Analysis

The dollar was mixed in N.Y. trade on Thursday, though once again caught inside of narrow trading ranges. The euro came under some pressure early on, on the back of EU data weakness and Portuguese bank concerns. EUR-USD could only manage 1.3590 lows however, with good bidding interest under the figure noted. Read more

XE Market Analysis: North America - Jul 10, 2014

By: XE Market Analysis

The dollar recovered against most currencies from the losses seen in the wake of the FOMC minutes yesterday, though USD-JPY was a notable exception as it dove amid a risk-aversion trade, with stocks taking a dive in Europe following a batch of dissatisfying corporate earnings reports. Read more

XE Market Analysis: Europe - Jul 10, 2014

By: XE Market Analysis

USD majors were mostly steady, while AUD and NZD were movers in pre-Europe trade in Asia. EUR-USD managed to eke out a fresh one-week high of 1.3649. The FOMC minutes didn't show any ratcheting up in hawkish language, not giving any indication of a policy change anytime soon with policymakers seeing more slack in the jobs market than is reflected by the unemployment rate. Read more

Analysts Are Wrong In Revising US Interest Rate Projections

By: HaleStewart

The Financial Times recently reported economists are revising the dates when they are projecting the Federal Reserve will start to lower rates. The main reason for their pulling the date forward is the recent downward movement of the US unemployment rate to 6.1%. Read more

XE Market Analysis: Asia - Jul 09, 2014

By: XE Market Analysis

Another quiet day in FX Land in N.Y. on Wednesday, with tight ranges again the rule rather than the exception. The greenback lost some ground to the European majors through the morning, though later managed to recoup some ground. EUR-USD traded briefly over 1.3640 from lows under 1.3605, before fading again. Read more

XE Market Analysis: North America - Jul 09, 2014

By: XE Market Analysis

The dollar has been trading fairly steadily against the other main currencies into today's FOMC minutes. EUR-USD edged out a six-day high at 1.3630 after ECB's Coene said that the euro wasn't strong, while 10-year T-note versus Bund yield differential also ebbed under 135 bp from 138-plus levels. Read more

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