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XE Market Analysis: Asia - Jun 06, 2014

By: XE Market Analysis

The dollar dipped, then rallied back after the nearly in-line May NFP report on Friday, with reaction overall, fairly muted. Ranges were fairly narrow for the major dollar pairings, with no new ground broken relative to the past two sessions. Risk taking levels perked up, as Wall Street rallied, and as Treasury yields ultimately nudged higher. Read more

XE Market Analysis: North America - Jun 06, 2014

By: XE Market Analysis

EUR-USD drifted lower during the London AM session, to 1.3291 after flat-lining around 1.3660 in Asia. EUR-JPY and EUR-GBP declined by a similar magnitude. Some corporate selling was reported to have gone through from around 1.3960 in EUR-USD, which tipped the balance in quite trade ahead of the U.S. Read more

XE Market Analysis: Europe - Jun 06, 2014

By: XE Market Analysis

Trade was generally light in the pre-Europe Asian session after the ECB fireworks of yesterday and ahead of the U.S. May payrolls report that is due later today. EUR-USD confined itself to a very narrow range around 1.3660, consolidating the profit-taking fuelled rebound of yesterday, which was seen after a 1.3503 low was made in the wake of the ECB announcement. Read more

XE Market Analysis: Asia - Jun 05, 2014

By: XE Market Analysis

FX trade was volatile in N.Y. on Thursday, especially for the euro, which gyrated wildly in the aftermath of the ECB actions. The central bank announced targeted LTROs and an end to SMP sterilization, in addition to 10 bp rate cuts that take the refi rate to 0.15% and the deposit rate to -0.10%. Read more

XE Market Analysis: Asia - Jun 04, 2014

By: XE Market Analysis

FX trade was very quiet through the Wednesday session, as markets girded for the ECB meeting on Thursday, and the U.S. jobs report on Friday. The dollar managed modest gains through the day, despite the modest ADP miss, and widened trade deficit. A bright spot was a better than expected non-manufacturing ISM headline. Read more

XE Market Analysis: North America - Jun 04, 2014

By: XE Market Analysis

The USD traded firmer against the euro and yen, though the extent of movement was limited with markets hunkering down ahead of tomorrow's ECB announcement and Friday's U.S. payrolls data. EUR-USD tumbled about 25 pips following a downward revision in the May Eurozone services PMI, to 53.2 from 55.5, but follow through was limited and the euro found a footing into 1.3600. Read more

XE Market Analysis: Europe - Jun 04, 2014

By: XE Market Analysis

The USD is firmer against most currencies (the AUD being an exception), albeit moderately so with the market hunkering down ahead of Thursday's ECB announcement and Friday's U.S. payrolls showstoppers. USD-JPY popped to a one-month high at 102.79, just over 40 pips up on yesterday's London closing level, before settling around 102.65. Read more

XE Market Analysis: Asia - Jun 03, 2014

By: XE Market Analysis

FX trade was very quiet in N.Y. on Tuesday, though the dollar managed modest gains versus the yen. EUR- USD was a slightly different story, and while ranges were kept inside familiar bands, the euro managed to move a bit higher. Short covering into Thursday's ECB meeting appeared to be a driver, though EUR-USD stopped dead at Friday's 1.3650 peak. Read more

Consumer spending on necessities vs. discretionary goods signals mid-cycle turn

By: New_Deal_democrat

Back in 2012, I noted that early in economic expansions, YoY real retail sales growth far outstrips YoY PCE growth. As the economy wanes into contraction, YoY real retail sales grow less and ultimately contract more than YoY PCE's. You can see that by noting that retail sales minus PCE's are always negative BEFORE the economy ever tips into recession. Read more

If the ECB Doesn't Act Now ...

By: HaleStewart

Today, Eurostat released unemployment and inflation numbers for the EU region. Neither held promising news for the area and both add further pressure on the ECB to act by implementing extraordinary central bank measures. First, the unemployment rate did drop from 11.8% to 11.7%. Read more

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