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The major movement in the European morning session went through GBP after U.K. services sector PMI jumped to a sixteen-year high at 62.5 in October. Cable rallied out of 1.5950 to 1.6062 highs and dragged EUR-USD up from 1.3480 to 1.3500, while AUD-USD recovered from 0.9470 back over 0.9500. Read more
There wasn't much movement of significance in Asia as the FX majors moved within familiar and narrow ranges. EUR traded near 1.3500, Cable was just short of the 1.6000 region and USD-JPY moved either side of 98.50. The only notable movement came when the RBA maintained policy rates at 2.5% and released its accompanying statement, which left the door open for more policy action if needed. Read more
The dollar traded on an easier footing versus the euro in N.Y. on Monday, after it registered fresh trend highs in thin Asia trade. Asian participants fished for stops after last week's big move out of EUR-USD longs amid renewed talk of Fed taper and ECB rate cut speculation following weaker than expected Eurozone CPI data. Read more
Perhaps most importantly, last week we saw some strong numbers coming out of Japan that indicate “Abebomics” continues to pay dividends for the Japanese economy. Retail sales increased 3.1% year over year (YOY) while industrial production increased 1.5% month over month (MOM) and 5.4% YOY. Read more
The dollar eased in Europe after it registered fresh trend highs in thin Asia trade. Asian participants fished for stops after last week's big move out of EUR-USD longs amid renewed talk of Fed taper and ECB rate cut speculation following weaker than expected Eurozone CPI data. Read more
The dollar held firm in Asia after posting a decent rally late last week due to renewed talk of Fed taper and ECB rate cut speculation following weaker than expected Eurozone CPI data. EUR-USD slumped to 1.3442 lows in Asia in very thin trade and led to a Cable drop to 1.5904. Read more
- by New Deal democrat Monthly reports in the last week featured September industrial production and capacity utilization, both up significantly. Two manufacturing indexes, the ISM index and the Chicago PMI, both came in very strong. New Orders, a sub-index of the ISM and a component of the index of Leading Indicators, was positive. Read more
The dollar firmed further through the N.Y. session on Friday, aided by the combination of ECB easing talk, and renewed Fed taper talk. In addition, better than expected manufacturing PMI's helped USD sentiment, and allowed EUR-USD to trade to near 1.3480. Read more
While it might sound counter-intuitive, an economy needs a little inflation While the amount is debatable. some inflation indicates there is sufficient consumer demand to keep the economy growing (as too many consumers try to buy too few goods) or enough businesses demand raw materials in the process of providing products (as businesses compete for scarce resources) to drive up raw material prices. Read more
The FX market reflected re-pricing of central bank policy expectations, which boosted the USD and weighed heavily on the EUR. Market positioning exacerbated the depth of the move over the last 24 hours and volumes have been much larger than average, according to flow desks. Read more
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