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US Yield Curve is Widening

By: HaleStewart

Above is a chart of the difference between the US 10 year and US 2 year bond. What we see is a widening of the yield curve over that last few months. The primary driver of this has been the 10-year treasury bond which as sold off in reaction to news that the Federal Reserve will start to taper its bond purchases over the next few months. Read more

XE Market Analysis: Asia - Dec 02, 2013

By: XE Market Analysis

The dollar gained altitude in London morning trade, and for the most part maintained higher levels through the N.Y. session. A strong manufacturing ISM headline offset softer construction spending data, though equities took a break from their recent gains, falling modestly. Read more

XE Market Analysis: Europe - Dec 02, 2013

By: XE Market Analysis

EUR-USD was lifted on the coattails of sterling, which was a notable mover during pre-European Asian trade, rallying quite strongly apparently on a growing market sense that 2014 may be a bullish year for the currency. News were mixed, with reports of soft Thanksgiving period retail sales in the U.S., above-expectations China PMI and Australian building data. Read more

International Week In Review: Generally Positive Numbers Continue

By: HaleStewart

The biggest news last week was Brazil raising its short term rates another 50 basis points to 10%.  As shown in the chart below, the Brazilian cental bank is clearly in rate increase mode in an attempt to lower inflation and defend the real. Read more

Weekly Indicators: another strongly positive week, but caution for consumer spending and housing measures

By: New_Deal_democrat

Monthly reports in the last week for October included the Index of Leading Economic Indicators, up, and accelerating on a YoY basis. Housing permits, an important component of that index, rose to a 5+ year high. The Chicago PMI index also rose to a near 3 year high. Read more

XE Market Analysis: Asia - Nov 29, 2013

By: XE Market Analysis

Movement remained choppy amid thin month-end trade after yesterday's U.S. Thanksgiving holiday. USD-JPY and the JPY crosses maintained a bid tone as market participants digested a heavy Japanese data schedule. The numbers broadly reinforced expectations that the economic recovery is intact. Read more

Canadian Growth Continues Thanks to Consumer Spending

By: HaleStewart

For the duration of this expansion, the US Federal Reserve has described the US expansion as "moderate."  The same terms could be used to describe the Canadian expansion, which, were it not for the contribution of consumers, would be printing near 0% growth rates. Read more

Record Low US Monetary Velocity Is Hindering Growth

By: HaleStewart

MZM is "money of zero maturity." Put in less formalistic terms, MZM is money that can be readily spent. Velocity is the rate at which money moves through the economy; higher velocity means each dollar is being spent faster while lower velocity means each dollar is being spent at a slower pace. The above chart tells us that liquid funds are now moving through the US economy at nearly the slowest pace on record. Read more

XE Market Analysis: North America - Nov 29, 2013

By: XE Market Analysis

Movement overnight remained choppy amid thin month-end trade after yesterday's U.S. Thanksgiving holiday. USD-JPY and the JPY crosses maintained a bid tone as market participants digested a heavy Japanese data schedule. The numbers broadly reinforced expectations that the economic recovery is intact. Read more

XE Market Analysis: Europe - Nov 29, 2013

By: XE Market Analysis

Movement overnight remained choppy amid thin month-end trade after yesterday's U.S. Thanksgiving holiday. USD-JPY and the JPY crosses maintained a bid tone as market participants digested a heavy Japanese data schedule. The numbers broadly reinforced expectations that CPI is improving and the economic recovery is intact. Read more

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