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International Week in Review: Inflation Still a Non-Threat

By: HaleStewart

Last week, the biggest news was the continued lack of global inflationary pressures. The US’ core PPI was 1.4% Y/Y while the core CPI printed at 1.7% for the same period. Germany’s WPI was .4% M/M, Italy’s was .2% M/M and .7% Y/Y while Spain’s was .3% Y/Y. Read more

Housing permits and starts record lowest YoY improvement since May 2011

By: New_Deal_democrat

The last report for housing permits and starts for the year 2013 is in, and it shows that the deceleration in growth since mortgage interest rates started to increase has continued. Housing permits came in at 986,000 only 43,000 or +4.6% higher YoY. Read more

Employment Report Miss Sends AUD/USD Lower

By: HaleStewart

Yesterday, the Australian Bureau of Statistics reported that employment decreased by 22,600 between November and December of last year. The consensus figure for this number was a gain of 15,400, making the released number a big shock to the market. This comes amid the Australian economy trying to rebalance from one that derives a large amount of its growth from commodities exports to one more oriented to personal consumption and other internal growth sources. Read more

XE Market Analysis: North America - Jan 16, 2014

By: XE Market Analysis

The USD posted new highs against he JPY, GBP and AUD, the latter of which was hit by an unexpected dive in Australian employment data, though consolidated at slightly lower levels versus the EUR. Both USD-JPY and EUR-JPY lifted to new highs for the week of 104.92 and 142.91 respectively, before consolidating modestly lower during the European AM session. Read more

XE Market Analysis: Europe - Jan 16, 2014

By: XE Market Analysis

The yen extended lower, mostly driven via EUR-JPY which sprang to a new high for the week at 142.91, while USD-JPY did likewise in lifting to 104.92. A return to risk-on sentiment has seen the yen weaken over the last couple of sessions, though Japanese stock markets underperformed with moderate losses today. Read more

XE Market Analysis: Asia - Jan 15, 2014

By: XE Market Analysis

The dollar firmed into the N.Y. open, and continued marginally higher overall through the morning session. Hotter PPI and a stronger Empire State index helped sentiment, and risk appetite ramped up again on Wednesday, taking equities sharply higher, while supporting Treasury yields. Read more

XE Market Analysis: North America - Jan 15, 2014

By: XE Market Analysis

The USD extended yesterday's gains. USD-JPY logged a four-day peak of 104.47 during Tokyo trade, subsequently consolidating moderately lower during the European AM session. EUR-USD fell to a low of 1.3608 in London, a loss of almost 70 pips from yesterday's New York closing level and coming within about 30 pips of last Friday's pre-payrolls report low. Read more

XE Market Analysis: Europe - Jan 15, 2014

By: XE Market Analysis

The JPY and AUD were the joint underperformers in a strong USD environment, which has remained firm since yesterday's firm U.S. ex-autos retail sales and solid inventory report sparked upward revisions to Q4 GDP. U.S. Treasury yields drifted higher, and Fed hawks Plosser and Fisher continued to argue that without a swift elimination of QE, inflation risks would rise again. Read more

XE Market Analysis: Asia - Jan 14, 2014

By: XE Market Analysis

FX trade was fairly quiet in N.Y. on Tuesday, with the greenback mixed overall. The greenback lost modest ground to the European majors, while gaining against the yen and dollar bloc. U.S. economic data was better, with ex-auto retail sales beating forecasts, and import prices very tame. Read more

USD/JPY Tops Out For Now

By: HaleStewart

Above is a daily chart of the USD/JPY chart. After a run from ~97 to ~ 105 (a gain of a little over 8%), the pair has fallen back to the 200 day EMA, which is also supported by the candle tops from early May of last year. The first obvious reason for the drop is a simple profit taking. Read more

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