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The Failure of Austerity In Pictures

By: HaleStewart

Below are three charts for government spending, debt/GDP and overall GDP for Spain, Ireland and Portugal. All three of these countries have backed Germany in that country's clear squashing of Greek's overtures to renegotiate its debt. However, all three countries also demonstrate one clear fact: austerity doesn't work. Read more

XE Market Analysis: North America - Feb 19, 2015

By: XE Market Analysis

The dollar recovered a chuck of yesterday's losses that were seen after the FOMC minutes. Rumoured Swiss franc selling by the SNB in EUR-CHF apparently helped support USD-CHF, which in turn prompted EUR-USD lower after a double rejection from 1.1450. News that Greek has asked for a six-month loan agreement didn't have much impact, certainly not positively, as this, if agreed by the Eurogroup tomorrow, would only buy time rather than address bailout conditions. Read more

XE Market Analysis: Europe - Feb 19, 2015

By: XE Market Analysis

EUR-USD's oscillation around 1.1400 has continued as markets wait for definitive news on Greece, though a deal will be struck (to extend the bailout program and avoid a Grexit scenario) before the week is out. Positive news on Greece may well spark a euro rally, but the time for a big short squeeze (the market is running a big net short exposure on the euro) doesn't seem ripe with the dollar's yield advantage continuing to increase, with the 10-year T-note yield differential above the Bund making new trend highs above 170 bp. Read more

XE Market Analysis: Asia - Feb 18, 2015

By: XE Market Analysis

The dollar was on the rise through the morning session, despite cooler PPI, and softer housing starts and production data. EUR-USD made its way to 1.1333 lows into the FOMC minutes, as USD-JPY made modest gains from under 119.10 to 119.29 highs. The FOMC minutes turned things around in a hurry, as the Fed sounded more dovish than expected, seemingly questioning early rate hikes. Read more

XE Market Analysis: North America - Feb 18, 2015

By: XE Market Analysis

Sterling was the star performer following a solid UK labour data, which beat market expectations in both headline and detail. Cable logged a peak of 1.5440, matching the Feb-16 seven-week peak, before settling around 1.5425-30. EUR-USD traded lower, to the mid-1.13s, breaking out of an oscillation around 1.1400. Read more

XE Market Analysis: Europe - Feb 18, 2015

By: XE Market Analysis

EUR-USD has continued to oscillate around 1.1400 as markets wait for definitive news on Greece, though its looking increasingly likely that a deal will be struck (to extend the bailout program and avoid a Grexit scenario) before the week is out. USD-JPY saw some chop following the BoJ announcement and Governor Kuroda's press conference, but the net impact has been limited, leaving the pair around the 119.10-20 area.[EUR, USD]EUR-USD has continued to oscillate around 1.1400 as markets wait for definitive news on Greece, though its looking increasingly likely that a deal will be struck (to extend the bailout program and avoid a Grexit scenario) before the week is out. Read more

XE Market Analysis: Asia - Feb 17, 2015

By: XE Market Analysis

The dollar was mostly firmer in N.Y. trade on Tuesday, after faltering some through the overnight session. EUR-USD was pushed back under 1.1390 by hard line talk from the Greek PM, though rumors later circulated, that Greece would tomorrow ask for an extension to the current bailout. Read more

Will housing break out to the upside tomorrow?

By: New_Deal_democrat

Housing leads the economy, and interest rates lead housing. So when the "taper tantrum" hit in mid-2013, I was one of the few voices contending that 2014 housing would take a hit. The housing recovery did indeed take a hit, although due to favorable demographics (the large Millennial generation), it never actually turned down significantly. Read more

XE Market Analysis: Europe - Feb 17, 2015

By: XE Market Analysis

A lack of progress with Greece at the Eurogoup meeting saw EUR-USD ebb below Friday's low at 1.1379 and back under the 20-day moving average at 1.1367. A low was left at 1.1319 and the pair has since settled around 1.1350-60. USD-JPY logged an 11-day low at 118.23 during Tokyo trade before rebounding to the 118.50-60 area. Read more

XE Market Analysis: Asia - Feb 16, 2015

By: XE Market Analysis

A lack of progress with Greece at the Eurogoup meeting today saw EUR-USD ebb below Friday's low at 1.1379 and back under the 20-day moving average at 1.1367. USD-JPY declined to a one-week low at 118.27, partly driven by EUR-JPY selling in a thin market. Read more

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