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EUR-USD recovered above 1.1200 on route to a five-day peak at 1.1242. The 200-day moving average at 1.1264 and the May-1 two-month peak at 1.1290 provide upside markers. Greek uncertainties persist, but broad dollar weakness is underpinning EUR-USD following yesterday's big trade deficit miss, which risks a negative revision in Q1 GDP data. Read more
The dollar turned lower in N.Y. trade on Tuesday, as an ugly U.S. trade report weighed. A better than expected services ISM reading was largely overlooked however, while higher yields did not come to the greenback's rescue either. Wall Street moved lower, another USD negative on the session. Read more
The euro took another turn lower, concomitantly with a rise in the Greek 10-year benchmark yield above 11% amid continued reports that significant differences remain between Greece and its creditors at the bailout negotiation table. EUR-USD logged a five-day low at 1.1066 after breaching Monday's 1.1123 low. Read more
EUR-USD remains heavy, threatening to breach Monday's low at 1.1123. The upcoming release of the April U.S. payrolls report should be dollar supportive, we think, as the report should show a rebound from March's unexpected weakness. Greece also remains a thorn in the euro's side as news reports from ongoing negotiations suggest that fundamental differences remain between the Greek government and creditors. Read more
FX trade was quite light in N.Y. on Monday, As London's holiday absence kept interest subdued. But for nearly in-line factory data, there was nothing on the calendar, though yields came off slightly, and Wall Street rallied. The dollar was flat overall, and plied narrow ranges versus the major currencies. Read more
EUR-USD traded lower during London-less trade in Europe, which seemed the obvious play in thin market conditions following seven straight up days through to Friday. EUR-USD logged an intraday low at 1.1135, which is down by 90 pips on the intraday peak. Read more
EUR-USD has traded a narrow range in early-week trade just above Friday's low at 1.1174. The absence of Tokyo and London centres will ensure thin trade today. Through to Friday, the euro had climbed for seven successive days, but looks likely for a pause now. Read more
Hale Stewart is a former bond broker who has been writing about economics and financial markets since 2006 on the Bonddad Blog. He is also a tax attorney with a domestic and international practice while also forming and managing captive insurance companies for US companies. Read more
In the rear view mirror, as expected first quarter GDP stunk, although it remained just barely positive. Some good news was the big increase in median wages and benefits. Monthly reports for April started out with a decline in vehicle sales, a steady ISM manufacturing report, positive Chicago PMI, and mixed consumer sentiment reports, with the U. Read more
The dollar traded broadly higher in N.Y. on Friday, though not due to incoming data, which wasn't horrible, but largely missed market forecasts. Treasury yields moved higher, supportive of the greenback, as was Wall Street's rally. After peaking at 1.1290, EUR-USD slid to session lows of 1.1175. Read more
