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XE Market Analysis: Europe - Jul 06, 2017

By: XE Market Analysis

The dollar majors have been plying narrow ranges so far today, with a blip higher in the greenback following the release of the Fed minutes from the mid June FOMC meeting not amounting to much. The minutes didn't discourage beliefs the Fed will continue to reduce accommodation, via rate hikes and the balance sheet unwind. Read more

XE Market Analysis: Asia - Jul 05, 2017

By: XE Market Analysis

The dollar was relatively steady through the morning session, though later slipped briefly to N.Y. session lows after the FOMC minutes release, before quickly bouncing back above pre-release levels. EUR-USD popped to 1.1357 highs from near 1.1340, before falling to 1.1326 lows. Read more

XE Market Analysis: South African Rand Slides

By: xemarketanalysis

OVERVIEW The Eurozone economy continues to see solid levels of growth, though activity slowed slightly in the services sector with June’s PMI dipping to 55.4, from 56.3. Eurozone retail sales rose 0.4% in May, stronger than forecast, adding to the year-on-year growth of 2.6%. The UK service sector slowed more than expected last month as optimism wanes. U.S. Read more

Houses, cars, and manufacturing Oh My!

By: New_Deal_democrat

We got contrasting data showing weakness and strength on Monday, that on balance nudges my outlook slightly darker. The two big consumer durables are houses and cars. In view of the last few months' slowdown in housing permits and starts, I have already - at least temporarily - downgraded my housing outlook to negative. June's motor vehicle sales (red in the graph below), at an annualized rate of 16.4 million, were the lowest in 2 1/2 years: Although it would take a number under 16.0 million for me to be concerned about any recession in the near future, it is enough for me to score vehicle sales as negative, along with housing permits (blue in the graph above). If the two big consumer purchases are now negatives, on the producer side of the ledger manufacturing continues to get a positive boost, via June's strong ISM manufacturing number. Read more

XE Market Analysis: North America - Jul 05, 2017

By: XE Market Analysis

The dollar has continued its recovery run, posting gains for a third consecutive session in the case against the euro and sterling, and rising against other currencies . USD-JPY has logged a fresh seven-week high at 113.62, while EUR-USD has hit a five-session low at 1.1318 and Cable a four-session low at 1.2893. Read more

XE Market Analysis: Europe - Jul 05, 2017

By: XE Market Analysis

The dollar majors have been directionally challenged so far today, with narrow ranges prevailing. EUR-USD has settled around 1.1350, modestly above the five-session low posted yesterday at 1.1336. USD-JPY has been trading on either side of 113.00 over the last day, holding in a consolidation pattern after logging a seven-week high at 113.47 on Monday, itself the culmination of a three-week rally. Read more

XE Market Analysis: Asia - Jul 04, 2017

By: XE Market Analysis

The dollar majors traded steadily in quiet trading conditions in the absence of U.S. markets. The Canadian and Australian dollar were the biggest movers, with the former rallying to fresh trend highs following the latest instalment of hawkish BoCspeak, while latter dove after the RBA signalled out exchange rate strength as a hindrance to the economy's ongoing transition from the mining investment boom. Read more

XE Market Analysis: Reserve Bank of Australia Leave Rates Cautiously on Hold

By: xemarketanalysis

OVERVIEW The Australian Dollar slumps in value as the Central Bank chooses to leave interest rates on hold with a less hawkish tone. The US Dollar takes a rest for Independence Day. The Euro continues to consolidate in the 1.13's against the US Dollar backed up by the recent strong economic data. The Pound weakens as the monthly economic health check by means of the PMI surveys disappoints with weaker than expected manufacturing and construction data. HIGHLIGHT The Reserve Bank of Australia left interest rates on hold at 1.5%. Read more

XE Market Analysis: North America - Jul 04, 2017

By: XE Market Analysis

The narrow trade-weighted USD index edged out a fresh five-session high at 96.08, despite a softening in USD-JPY. EUR-USD declined for a fourth-straight session, which follows ECB efforts to correct its tapering message. The pair logged a four-session low at 1.1336. Read more

XE Market Analysis: Europe - Jul 04, 2017

By: XE Market Analysis

The Australian dollar dove following the RBA announcement, with Governor Lowe's statement giving a mixed prognosis of the economy and, in particular, highlighting that an "appreciating exchange would complicate" the transition of the economy from the mining investment boom. Read more

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