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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

Ranking the Major Central Banks In the Order of Most Likely to Least Likely to Raise Rates

By: HaleStewart

There are several major events in currency trading that can alter the fundamental trajectory of a currency’s chart. Perhaps at the top of the list is a change in the home country’s interest rates. Below is a list of the big 6 currency countries -- the EU, UK, US, Canada, Japan and Australia – in order from the most likely to raise rates sooner to the most likely to raise rates later. Read more

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