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XE Market Analysis: Asia - Nov 25, 2013

By: XE Market Analysis

The dollar firmed up modestly in N.Y. dealings on Monday, though remained inside a narrow range versus most major currencies. EUR-USD found support under 1.3500, while the 102.00 mark for USD-JPY remained elusive. The economic calendar was light, with a softer pending home sales report offset by a strong Markit composite PMI outcome. Read more

European Central Bank Only Has Non-Traditional Measures Left

By: HaleStewart

The European Central Bank is facing a very difficult policy environment: inflation that is too low and unemployment that is too high. Consider the following two charts: Inflation has been decreasing for the last two years, dropping from an annual rate of 3% at the end of 2011 to .7% in the latest reading. At the same time, unemployment has been rising, although it appears to have peaked at a little over 12% over the last nine months. The central bank has come close to exhausting traditional policy options. Read more

XE Market Analysis: Europe - Nov 25, 2013

By: XE Market Analysis

A small correction was noted during the European morning session. The dollar made up ground against EUR and GBP after underperforming in early Asia, while USD-JPY and the JPY crosses also pulled back from overbought levels. The positive close for U.S. Read more

International Week in Review: Modest Growth Continues But Deflationary Forces May Be Building

By: HaleStewart

Last week, Markit released its monthly manufacturing reports for the EU region. The composite reading was 51.5 which was the fifth month showing expansion. However, the primary driver of the change was Germany, while other EU countries had readings slightly above 50 or just below. Read more

Weekly Indicators: fully positive now, but interest rates a growning concern for late 2014 edition

By: New_Deal_democrat

In the rear view mirror, 3rd quarter median employment costs rose, and indicated that real median wages have grown about half a percent YoY. Monthly reports in the last week for October were showed outright deflation in both consumer and producer prices, strong retail sales, a decelerating but positive Philadelphia Fed, and a 4 month low in existing home sales. The high frequency weekly indicators are an almost simultaneous "nowcast" of the economy, and although they can be noisy, taken together they will show a continuation or turning of a trend before it shows up in the monthly data. Read more

XE Market Analysis: Asia - Nov 22, 2013

By: XE Market Analysis

The dollar stayed lower versus European majors, and maintained a positive bias versus the yen in relatively light pre-weekend trade, with nothing on the U.S. data front to drive prices. Equities and Treasuries stayed fairly steady, and didn't give much impetus to dollar direction. Read more

"Abenomics" Is Working So Far

By: HaleStewart

Japan has been in a deflationary rut for the last 15-20 years. This presents an incredibly difficult policy dilemma for the central bank and other economic policy makers as deflationary expectations (the belief that prices will be lower tomorrow) are now firmly ingrained in the Japanese economic psyche. Read more

XE Market Analysis: North America - Nov 22, 2013

By: XE Market Analysis

The dollar remained soft against EUR and GBP, but was supported against JPY and the commodity bloc. EUR benefited on more short covering and broke back above 1.3500 amid strong German Ifo data and German Q3 GDP was confirmed at 0.3% q/q. Cable held on to levels around 1.6200, though profit taking by longs capped gains. Read more

XE Market Analysis: Europe - Nov 22, 2013

By: XE Market Analysis

The dollar was mixed in Asia. It maintained softer levels against EUR and GBP, but was supported against JPY, AUD and NZD. EUR benefited on short covering Wednesday as ECB's Draghi offered no new insight into negative deposit rates, while fund names piled into GBP on more U.K. Read more

XE Market Analysis: Asia - Nov 21, 2013

By: XE Market Analysis

The dollar traded in a mixed fashion in N.Y. on Thursday, moving lower versus the European major currencies, while firming against the yen and dollar bloc. EUR-USD found a footing on talk from ECB Draghi, who downplayed a negative deposit rate, the news which had weighed the euro down on Wednesday. Read more

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