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The dollar ebbed against the yen and euro. EUR-USD lifted back above 1.1200 after basing at 1.1172 following German manufacturing orders data, which fell 1.8% m/m in August data, confounding the median forecast for a 0.5% rise. The data corroborates the view that the ECB might be headed for an expansion in its QE program, though impetus to sell euros proved fleeting. Read more
The Aussie rallied on the RBA's refrain from cutting interest rates, which saw AUD-USD lift to a fresh two-week peak of 0.7134. Elsewhere, the G3 currencies held in relatively narrow ranges. German manufacturing orders fell 1.8% m/m in August data, confounding the median forecast for a 0.5% rise and down from a downwardly revised 2.2% m/m decline in July. Read more
The dollar was mostly firmer in N.Y. trade on Monday, as renewed bad news is good news sentiment again saw Wall Street rally on dimmed Fed rate hike expectations, and as Treasury yields clawed back some of Friday's steep losses. EUR-USD gave up the 1.12 handle, after posting two-week highs of 1.1318 on Friday, as USD-JPY moved to one-week highs over 120.55 on the better risk backdrop. Read more
The dollar majors have been settled in Asia after Friday's high volatility following the U.S. payrolls shocker. The greenback consolidated at net lower levels versus its the euro and yen compared to Friday's pre-data levels, but well off the lows seen in the immediate wake of the jobs report. Read more
The dollar majors have been settled in Asia after Friday's high volatility following the U.S. payrolls shocker. The greenback consolidated at net lower levels versus its the euro and yen compared to Friday's pre-data levels, but well off the lows seen in the immediate wake of the jobs report. 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
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
Monthly data for September started with good news and bad news. Motor vehicle sales had their best month in about 10 years, and one of their 10 best months ever. Consumer confidence soared. Jobs growth, on the other hand, was weakly positive, with plenty of negative internal data. 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
The dollar was crushed following the weaker than expected September jobs report, taking EUR-USD to two-week highs over 1.1315 from near 1.1150, and USD-JPY to a one-month low of 118.68 from 120.35. The data pushed back Fed rate hike expectations to March of 2016, which resulted in tumbling Treasury yields, and another early stock market rout. Read more
