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Japan's Slow Growth Continues

By: HaleStewart

Earlier this week, Japan voted to maintain their current interest rate and asset purchase policy. Contained within their statement was an assessment of Japan's current economic environment. In this post, I'll look at the data specifically mentioned in the BOJ's assessment of Japan's economy which highlights the continued slow upward slog of Japanese growth. Here are the salient points: Exports have recently leveled off more or less. Read more

XE Market Analysis: North America - Apr 09, 2014

By: XE Market Analysis

The commodity-bloc currencies saw fresh highs before settling, while the dollar and euro consolidated, and the yen softened. EUR-USD dipped to a low of 1.3780 during the London AM and subsequently recovered to near net unchanged levels around 1.3800 after ECB's Weidmann said that there is only a limited risk of deflationary spiral. Read more

XE Market Analysis: Europe - Apr 09, 2014

By: XE Market Analysis

The AUD rose to a new high on data, and the yen softened during Tokyo trade after extending gains during the post-Europe New York session yesterday. The yen's pronounced strength over the last few days, which accelerated yesterday, weighted heavily on Japanese stock markets today, which conspicuously underperformed an otherwise bullish day across the Asia-Pacific region. Read more

Why Isn't the Growth in the EU's Leading Index Translating Into Meaningful Economic Growth?

By: HaleStewart

Above are two charts of Conference Board's leading index (top chart) and coincident index (bottom chart). If the LEI's are to be believed, the EU economy should be taking off at this point. But the coincident index is barely moving. And the annual rate of GDP growth has barely turned positive: So -- why hasn't growth taken off? The answer lies in the components of the LEIs: 37.5% of the index is comprised of money supply growth. Read more

XE Market Analysis: Asia - Apr 08, 2014

By: XE Market Analysis

The dollar faded further in N.Y. trade on Tuesday, resulting in EUR-USD moving over 1.3800, and USD-JPY under 102.00. There was no data to drive the FX market, though general risk aversion, and geopolitical concerns kept traders cautious. The BoJ's lack of future guidance on potential easing measures supported the yen broadly, while in Europe, ECB speak from Monday reverberated. Read more

XE Market Analysis: North America - Apr 08, 2014

By: XE Market Analysis

The dollar extended lower, across the board, as its post-jobs report losses. USD-JPY got the ball rolling during the Asia session in breaking below 103.00 and extending to an 11-day low of 102.51 during the London AM session. The move correlated with stock markets, which remained under pressure in Europe and Asia (which some commentaries blame on Ukraine-Russian tensions). Read more

XE Market Analysis: Europe - Apr 08, 2014

By: XE Market Analysis

Yen firmness was the main theme in pre-Europe trade in Asia. USD-JPY broke below 103.00 and left a low at 102.74, which is the lowest level seen since Mar-28. A subsequent rebound saw the 103.00 level retaken before the pair settled around the 102.90 mark. Read more

XE Market Analysis: Asia - Apr 07, 2014

By: XE Market Analysis

The dollar fell in N.Y. trade on Monday, as Wall Street took another beating, and as Treasury yields slipped. EUR-USD traded to near 1.3750 from opening levels near 1.3720, as USD-JPY eased into the 103.00 level. USD-CAD faded under 1.1000, while cable reclaimed the 1.66 handle. Read more

XE Market Analysis: North America - Apr 07, 2014

By: XE Market Analysis

No too much net change in quiet trade. EUR-USD popped higher on ECB-speak by Nowotny and USD-JPY recovered to the 103.30 after dipping below 103.00 for the first time since last Tuesday. EUR-USD lifted to 1.3720 after earlier trading just under 1.3700. Read more

XE Market Analysis: Europe - Apr 07, 2014

By: XE Market Analysis

Moderate yen firmness was the main theme during pre-European trade in Asia. USD-JPY dipped to a low of 102.99 after closing last week around 103.25. The pair subsequently recovered to the 103.10 area. EUR-JPY, AUD-JPY, and other yen crosses, saw a similar pattern. Read more

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