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XE Market Analysis: Europe - May 30, 2014

By: XE Market Analysis

The yen firmed moderately following Japanese data, which was headlined by April inflation figures that produced the expected jump in CPI to 3.4% y/y from 1.6% in March. The spike was caused by the three percentage point rise in the sales tax in April, which will have a base effect on y/y data through to March next year. Read more

XE Market Analysis: Asia - May 29, 2014

By: XE Market Analysis

The dollar was mostly easier in N.Y. trade on Thursday, as Treasury yields fell further into month-end, and as U.S. Q1 GDP was revised sharply into negative territory. On the positive side, jobless claims were lower than expected. EUR-USD found some resistance over 1.3620 following its brief foray under 1.3600, as USD-JPY saw buyers return into 101.40. Read more

Long leading indicator corporate profits decline in Q1 2014

By: New_Deal_democrat

Along with the downward revision to Q1 GDP, which confirms for the upteenth time that most of the US had an unusually severe winter, the preliminary estimate for Q1 corporate profits was released. Corporate profits, particularly as adjusted by unit labor costs, are a long leading indicator for the economy, They typically decline by at least one year before the overall economy does, and sometimes make their high near mid-cycle. Unsurprisingly, given the rest of the GDP report, Q1 corporate profits, both unadjusted and as adjusted by unit labor costs, declined. Read more

XE Market Analysis: North America - May 29, 2014

By: XE Market Analysis

The dollar was generally softer following the 7 bp drop in the 10-year T-note yield yesterday, which declined by a further 1 bp in overnight trade. EUR-USD briefly interrupted this theme by dropping to a fresh three-month low of 1.3586 during the early London AM, but the pair subsequently rebounded by nearly 40 pips to levels around 1.3620. Read more

XE Market Analysis: Europe - May 29, 2014

By: XE Market Analysis

The dollar softened moderately since the London close yesterday. The drop in the U.S. yields to near year-to-date lows weighed on the greenback generally. An AUD-USD rally led the way as the pair rose to a nine-day peak of 0.9301, up just over 100 pips from the lows. Read more

What's Causing Deflation in the EU?

By: HaleStewart

On May 26, Mario Draghi gave a speech titled, "Monetary Policy In A Period of Low Inflation." Contained within the speech was a very good explanation of what is currently causing the EU's deflation. Let's look at the various components highlighted by the ECB head. Falling commodity prices explain the lion’s share of the disinflation the euro area has experienced since the end of 2011. Read more

XE Market Analysis: Asia - May 28, 2014

By: XE Market Analysis

The dollar came under some modest pressure early, likely on the back of fading Treasury yields, where the 10-year yield dropped to 2014 lows. USD-JPY remained sensitive to the rate backdrop, and fell to intra day lows of 101.64, from opening levels around 102.00. Read more

XE Market Analysis: North America - May 28, 2014

By: XE Market Analysis

The dollar is moderately firmer against the EUR, GBP and AUD, and steady against the JPY. EUR-USD sank to a low of 1.3616, which is just four pips above yesterday's three-month low. A stronger than expected economic confidence reading out of the Eurozone helped the euro find a toehold, though rebounds continue to remain muted affairs in a clearly bearish market. Read more

XE Market Analysis: Europe - May 28, 2014

By: XE Market Analysis

Another pretty featureless session in pre-Europe Asia trade today. USD-JPY saw a 101.88-102.03 range, nearly the exact same path that was seen yesterday, and EUR-USD a 12-pip range centred around 1.3630-35. AUD-USD managed to lifted to the 0.9270 area after dipping to 0.9250, aided by a risk-on backdrop, with the MSCI Asia Pacific equity index set to log a six-month closing high following a fresh all-time peak in the S&P 500 on Wall Street yesterday. Read more

XE Market Analysis: Asia - May 27, 2014

By: XE Market Analysis

The dollar firmed broadly in N.Y. on Tuesday, as decent U.S. data and a brighter risk backdrop supported. Talk of the BoJ mulling a stimulus exit path helped USD-JPY, which was able to reclaim and hold the 102 handle. EUR-USD meanwhile, slipped to three-plus month lows of 1.3613, with more losses expected to come ahead of next week's ECB meeting, where easing moves could well be in the cards. Read more

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