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Falling commodity prices + rising wages = more growth ahead

By: New_Deal_democrat

The simple fact is, economic downturns almost always happen because consumers decide to retrench, and pull back on spending. Furthermore, it is usually because prices have grown more than wages that drives their decision to retrench. Indeed, where commodity prices are falling, but wages are rising, there has simply never been a recession. So the rapid decline of gas prices to less than $3 a gallon, in the face of wages for nonsupervisory workers growing at 2.2% rate (and likely to improve in coming months), is as close to purely good economic news there is. First, let me show you consumer prices YoY vs. Read more

XE Market Analysis: North America - Nov 05, 2014

By: XE Market Analysis

USD-JPY led a broad dollar advance. Driving the move was yen underperformance as the market continued to adjust to the BoJ's unexpected expansion in its QQE program last week and a dollar pop on news of that the Republican party's success in the midterm elections. Read more

XE Market Analysis: Europe - Nov 05, 2014

By: XE Market Analysis

USD-JPY led broader dollar gains in pre-Europe trade in Asia. Driving the move was continued yen underperformance as the market continues to adjust to the BoJ's unexpected expansion in its QQE program last week and a dollar pop on news of that the Republican party's success in the mid-term elections (now back in control of both houses of Congresses). Read more

XE Market Analysis: Asia - Nov 04, 2014

By: XE Market Analysis

The greenback pulled back some in N.Y. trade on Tuesday, though traded ranges were narrow overall. A wider than expected September U.S. trade deficit had little impact on the markets, as was the case with soft, but in-line factory orders data. Treasury yields moved off their highs after the data, while Wall Street stumbled modestly, perhaps as long positions were pared into Friday's key U.S. Read more

XE Market Analysis: North America - Nov 04, 2014

By: XE Market Analysis

It's been correction time for the dollar, which gave back some of its recent gains. USD-JPY dipped to a low of 113.17, over a big figure down on yesterday's 114.21 six-year peak. Japanese exporters were active sellers, while the head of Japan's Chamber of Commerce Mimura said that the yen has weakened too much and that USD-JPY at 95-105 would be more desirable (the BoJ's actions speak a lot louder than Mimura's works, needless to say). Read more

XE Market Analysis: Europe - Nov 04, 2014

By: XE Market Analysis

The dollar gave back some of its recent gains. USD-JPY dipped to a low of 113.28 before settling around 113.50. The pair had closed in New York at 113.74, off of the new six-year peak at 114.21. Japanese exporters were among the sellers, while the head of Japan's Chamber of Commerce Mimura said that the yen has weakened too much and that USD-JPY at 95-105 would be more desirable. Read more

XE Market Analysis: Asia - Nov 03, 2014

By: XE Market Analysis

The FX market was fairly well behaved on N.Y. trade on Monday, though the greenback did move broadly higher versus the major currencies. A better than expected manufacturing ISM number helped risk levels, resulting in modestly higher equity markets, and firmer Treasury yields. Read more

Russian Situation Continues to Deteriorate

By: HaleStewart

Perhaps the hardest central banking job in the world right now is in Russia. The economy is heavily dependent on a single commodity (oil) that is decreasing in value. The overall economic structure is a kleptocracy and the leader is currently trying to re-live the glory days of Russian Cold War Expansionism. Read more

XE Market Analysis: North America - Nov 03, 2014

By: XE Market Analysis

The dollar clocked fresh trend highs against the yen and euro on the back of favourable yield differentials following last week's hawkish-leaning FOMC statement and unexpected BoJ expansion of QQE. USD-JPY rallied over 100 pips from Friday's closing level in making new six-year highs above 113.00, peaking at 113.43 so far. Read more

XE Market Analysis: Europe - Nov 03, 2014

By: XE Market Analysis

The dollar rose to fresh trend highs on the back of favourable yield differentials following last week's hawkish-leaning FOMC statement and unexpected BoJ expansion of QQE. USD-JPY clocked a new six-year high at 113.00 after breaching Friday's 112.47 peak, subsequently settling back to the 112.60 area. Read more

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