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The dollar traded lower, seeing a brief bout of selling during the London AM session. Thin liquidity exacerbated the move, and made for some pretty whippy price action. USD-JPY triggered stops through the 118.40-50 area and extending to a low of 118.05, subsequently rebounding toward 118.40. Read more
A very quiet, pre-Christmas session saw the dollar trade inside of narrow ranges, though mixed overall. Better than expected jobless claims helped Wall Street rally modestly, while yields moved higher after the data. EUR-USD peaked just shy of 1.2220 highs before heading back under the figure, while USD-JPY was stuck between 120.37 and 120.53 though the session. Read more
Shinzo Abe was elected to the position of Japanese Prime Minister in 2012, largely on his plan to reinvigorate the Japanese economy after nearly two decades of stagnation. His plan had “three arrows:” a massive currency devaluation, fiscal stimulus and structural reform in several areas such as getting more women into the labor force and making it easier for companies to restructure their operations. Read more
To reiterate a point I have made previously about the housing market, first, interest rates turn second, sales turn third, prices turn finally, inventory turns I wrote last week that, after a slight downturn earlier in 2014, housing sales have trended slowly higher later in the year, following the decline in interest rates from their January high. Read more
The dollar rallied to fresh trend highs against the euro and sterling, among other currency, aided by misses in manufacturing PMI data out of the Eurozone and UK. EUR-USD breached the July 2012 low at 1.2042, making a low of 1.2035. Cable lost over 100 pips in clocking its lowest level since August 2013, at 1.5445. Read more
The new year has began with a dollar rally as markets in Asia ran with the central theme that's been seen since around July last year. This seemed apt as the dollar's yield advantage improved over the last week against some currencies, and at least remained near cycle highs versus other currencies. Read more
FX trade was very quiet on the final day of the year, though EUR-USD managed to make new 2.5 year lows of 1.2098, as the dollar elsewhere moved higher. Weekly jobless claims were firmer than expected, while the Chicago ISM missed the mark as well, though the outcomes were largely overlooked by the markets. Read more
The main currencies have largely flat-lined during trade in Asia and Europe. The various absentees included Japanese, German and Italian markets, while business elsewhere wound down ahead of the new year holiday. AUD-USD managed to extend yesterday's gain, edging out a new two-week high at 0.8215, piercing the 20-day moving average (at 0.8204) for the first time since mid-November. Read more
The main currencies have largely flat-lined during the pre-Europe session in Asia. Activity has been very light with Tokyo closed and business winding down ahead of the new year holiday. AUD-USD managed to extend yesterday's gain, logging a new two-week high at 0.8215, piercing the 20-day moving average, presently situated at 0.8204, for the first time since mid-November. Read more
FX dealings were quiet on the last full trading day of 2014, though while the dollar started out on a weaker footing, it made up modest ground after the London close. Softer than forecast housing price data and consumer confidence had little impact overall. Read more
