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XE Market Analysis: North America - Jan 08, 2014

By: XE Market Analysis

The euro came under pressure via EUR-JPY and EUR-USD. The EUR-JPY cross tumbled quite sharply during the European AM session after making a six-day peak of 143.17 in Tokyo trade, falling to a low of 142.20 before finding a toehold. The move seemed incongruous next to solid manufacturing and retail sales data out of Germany, but markets are speculating that the ECB might announce fresh stimulus at its policy meeting tomorrow as disinflation has become a worry for policymakers with Eurozone CPI having dipped to just 0.8% y/y in December. Read more

XE Market Analysis: Europe - Jan 08, 2014

By: XE Market Analysis

Yen weakness has been the main theme amid rising stock markets in Asia, following a solid close on Wall Street -- a backdrop that the funding currency of choice typically weakens to. Both USD-JPY and EUR-JPY logged a six-day peaks, of 105.00 and 143.16 respectively. Read more

XE Market Analysis: Asia - Jan 07, 2014

By: XE Market Analysis

The dollar was mixed in N.Y. trade on Tuesday, generally posting fairly broad gains early on, before giving them back later. A narrower U.S. November trade deficit helped the greenback to an extent, though EUR-USD support into 1.3600 held up, while USD-JPY ran into offers into 104.70. Read more

Weak EU Inflation Reading Euro Negative

By: HaleStewart

Today we learned that the EU is still in the middle of a potential deflation threat with the release of both CPI and PPI.  Read more

XE Market Analysis: North America - Jan 07, 2014

By: XE Market Analysis

The dollar is generally little changed versus Monday's New York closing levels. EUR-USD drifted modestly toward the 1.3640-50 area, aided by firm German retail sales and unemployment data. Eurozone HICP dipped to just 0.8% y/y, though this was expected following yesterday's sharp decline in German HICP. Read more

XE Market Analysis: Europe - Jan 07, 2014

By: XE Market Analysis

The USD is slightly firmer versus Monday's London closing levels, while the yen weakened after Japanese data . USD-JPY rebounded back above 104.50 after a brief dip under 104.00 during the New York afternoon session. EUR-JPY was also firmer as the Tokyo market sold yen following data that showed Japan's monetary base surged 46.6% y/y in December to a record Y193.5 tln, illustrating the impact that the BoJ's reflationary policy is having (the central bank is targeting a monetary base to Y270 tln by the end of 2014). Read more

XE Market Analysis: Asia - Jan 06, 2014

By: XE Market Analysis

The dollar started the Monday session on a firmer footing, though a softer than expected services ISM outcome threw cold water on the dollar, while weighing on Wall Street and tamping down Treasury yields. The negative risk backdrop, and lower yields weighed on interest rate sensitive USD-JPY, taking that pairing briefly under 104.00 from session highs of 104.84. Read more

XE Market Analysis: North America - Jan 06, 2014

By: XE Market Analysis

Dollar majors have been narrowly mixed in early-week trade for the most part, though sterling decline following U.K. data and EUR-JPY managed a three-week low of 141.53. USD-JPY, like EUR-JPY, was decline, but modestly so, and the pair has remained above its Friday low of 104.07. Read more

XE Market Analysis: Europe - Jan 06, 2014

By: XE Market Analysis

The JPY is moderately firmer on the first business in Japan in a week. EUR-JPY made a three-week low of 141.53, while USD-JPY is lowered versus Friday's New York closing level but has remained above its Friday low of 104.07. Most of the other dollar majors have been pretty steady, though sterling has been coming under some early-week pressure, with Cable testing 1.6350 and EUR-GBP nudging above 0.8300, though both have so far remained with their respective Friday ranges. Read more

International Week In Review: All Hail Manufacturing

By: HaleStewart

Last week was another holiday shortened week with very little news released on either Tuesday or Wednesday. By far the biggest news was the monthly Markit manufacturing releases for the EU and the UK. Here is the key information from the EU release: The recovery in the eurozone manufacturing sector accelerated further at the end of 2013. Read more

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