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Japan's Employment and Wage Situation Is On Solid Ground

By: HaleStewart

Abenomics has been in place for about two years now. Its central goal was to get the Japanese economy out of its near two decade malaise by using three "arrows:" a stimulative monetary policy, fiscal stimulus and policy reform, with the ultimate desired end result being to get the country out of its deflationary spiral. Read more

XE Market Analysis: North America - Jun 24, 2014

By: XE Market Analysis

EUR-USD lifted moderately, USD-JPY trod a choppy but narrow range in the upper 101s, briefly piercing the 102.00 level, while the AUD and other dollar-bloc currencies corrected some of yesterday's sharp gains seen in the wake of the strong Chinese PMI data. Read more

XE Market Analysis: Europe - Jun 24, 2014

By: XE Market Analysis

Narrow ranges prevailed in pre-European trade in Asia among the main currencies, and stock and commodity markets were similarly listless. EUR-USD posted about a10 pip decline to levels around 1.3595, with the 1.3600 level seemingly exerting gravitational pull. Read more

XE Market Analysis: Asia - Jun 23, 2014

By: XE Market Analysis

A stronger Chicago Fed index, a better flash PMI outcome. and firmer existing home sales did little to help the dollar, equities, or yields on Monday in N.Y. FX trade. EUR-USD probed under 1.3590, though inched its way back over 1.3600 through the session, where it encountered selling interest. Read more

May existing home sales and the housing cycle

By: New_Deal_democrat

As Bill McBride a/k/a Calculated Risk has pointed out, mortgage rates are now lower than they were one month ago. While I expect that to lead to improvement in the housing market, I don't expect any sudden new surge in sales. The reason is shown in this first graph: This graph shows the YoY% change in mortgage rates (red) vs. Read more

XE Market Analysis: North America - Jun 23, 2014

By: XE Market Analysis

EUR-USD dipped back under 1.3600 following an unexpected decline in Eurozone PMI, while the AUD, NZD and CAD outperformed on strong China data, with the HSBC PMI for June smashing forecasts expectations for 49.4 by coming in at 50.8, the first 50.0-plus expansionary reading in six moths. Read more

Weekly Indicators: Spring springs into Summer, buit Oil spoils the party edition

By: New_Deal_democrat

Monthly data for May released this week included the Index of Leading Indicators, up .5, indicating that growth should continue for the rest of this year, increasing industrial production and capacity utilization, and increases in the NY and Philly regional manufacturing indexes. Read more

International Week In Review: Frothy UK Housing Market Edition

By: HaleStewart

     While Australia printed little data, the RBA did release the minutes of the June 3 meeting.  Of particular interest was this passage regarding Australian wages: Read more

XE Market Analysis: Asia - Jun 20, 2014

By: XE Market Analysis

A quiet end to a relatively quiet week on Friday, with low volatility apparent in the FX market as Wall Street's VIX hit a seven year low. There was no data to drive the markets, and as a result, equities were near flat, Treasuries fairly steady, and the dollar in narrow ranges once again. Read more

XE Market Analysis: North America - Jun 20, 2014

By: XE Market Analysis

The USD perked up, aided by a fresh widening in the T-note over Bund yield spread that tested te 2006 high at 129 bp. EUR-USD tested sub-1.3600 levels and drifted lower from a high at 1.3634, though was unable to sustain losses below the figure as ECB's Coere said that asset purchases are not necessary at the current juncture. Read more

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