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XE Market Analysis: Asia - Aug 12, 2015

By: XE Market Analysis

The dollar lost ground through the N.Y. morning session on Wednesday, as China's second currency devaluation threw global markets into another tailspin. Sovereign yields moved lower, as equities were again crushed, giving the FX market some pause as to whether or not a September Fed rate hike will be put on hold. Read more

XE Market Analysis: North America - Aug 12, 2015

By: XE Market Analysis

Asian currencies and stock markets came under pressure again after the PBoC devalued for the second consecutive day, shifting the yuan's reference rate to 6.3306 versus the dollar, which is a 1.6% weakening of the Chinese currency, adding to yesterday's 1.9% devaluation. Read more

XE Market Analysis: Europe - Aug 12, 2015

By: XE Market Analysis

The PBoC devalued again, shifting the yuan's reference rate to 6.3306 versus the dollar, which is a 1.6% weakening of the Chinese currency relative to yesterday's 6.228 (which itself marked a 1.9% depreciation). There seems a degree of acceptance in markets, with Credit Suisse economists, for instance, calculating that the yuan was 5 to 10% overvalued going into the devaluations, adding that anything more than a 10% shift in the currency would spark political backlash. Read more

XE Market Analysis: Asia - Aug 11, 2015

By: XE Market Analysis

The dollar was mostly firmer in N.Y. trade on Tuesday, despite Treasury yields falling off a cliff, and Wall Street giving back more than it gains on Monday. On the data front, Q2 productivity slightly missed expectations, while unit labor costs were a touch higher than expected. Read more

XE Market Analysis: North America - Aug 11, 2015

By: XE Market Analysis

The dollar was mixed, trading lower against the euro, which outperformed on news that Greece had reached firm agreement on a bailout deal with its creditors, while making gains against the yen, Aussie dollar, and other Asian currencies, which underperformed after China unexpected devalued the yuan by almost 2%. Read more

XE Market Analysis: Europe - Aug 11, 2015

By: XE Market Analysis

Currencies were impacted by the PBoC's devaluation of the yuan, with the AUD and NZD both losing over 1% to the USD in the wake of the move, while the won and the yen were hit by a lesser extent. An indirect bid for dollars saw EUR-USD tumble back to the mid-1.09s after foraying above 1.1000 after the London close yesterday. Read more

XE Market Analysis: Asia - Aug 10, 2015

By: XE Market Analysis

Despite a sharp Wall Street rally, and an uptick in yields, the dollar took it on the chin in N.Y. trade on Monday. This was a continuation of weakness seen following the initial dollar bounce after Friday's jobs report, and indicated a general paring of long-USD positions. Read more

XE Market Analysis: North America - Aug 10, 2015

By: XE Market Analysis

EUR-USD edged out a six-day high of 1.0981 during the European AM session, breaching Friday's high at 1.0978, before retreating below 1.0950. The euro was temporarily lifted by a surge in Greek shares as a bailout deal with creditors edges nearer. However, Friday's post-U.S. Read more

XE Market Analysis: Europe - Aug 10, 2015

By: XE Market Analysis

Consolidation was the name of the game in early-week markets in Asia, letting the dust settle after Friday's post-U.S. jobs report volatility, which elicited an 'on-the-fact' dollar sell-off as Fed funds futures moved to fully discount a 25 bp Fed rate hike at the September FOMC. Read more

Weekly Indicators: most coincident indicators still weak edition

By: New_Deal_democrat

Monthly data for July included a positive jobs report with lackluster wage growth, excellent motor vehicle sales, and a very positive ISM services report. June data included positive personal income, positive factory orders, flat personal spending, and positive construction spending. My usual note: I look at the high frequency weekly indicators because while they can be very noisy, they provide a good Now-cast of the economy. Read more

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