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The dollar posted a moderate gain in generally subdued trading conditions as market participants hunker down ahead of tomorrow's FOMC announcement in the absence of fresh leads. The SEK was the main exception as the currency dropped sharply after the Riksbank cut interest rates to zero from 0.25%, below the median forecast of 0.05%. Read more
Markets have been subdued ahead of the FOMC meet, which starts later today. EUR-USD has seen a 1.2695-1.2715 range, holding just above its 20-day moving average at 1.2694 and below yesterday's peak at 1.2623. USD-JPY has posted a similarly narrow range, of 107.76-107.90. Read more
FX trade was fairly quiet to start the week, though over all the dollar lost ground to the major currencies, with the USD index dipping to 85.45 from 85.70. EUR-USD made its way over 1.2720, up from a 1.2675 base, while USD-JPY was unable to reclaim the 108 handle, falling to near 107.60. Read more
Because copper is used in so many goods, it is often referred to as "Dr. Copper," meaning its price provides a strong indication about the direction of the global economy. Keeping in mind this is only one indicator, take a look at the yearly chart for the metal: Starting in April, we see a general rally that lasts until the beginning of July, when prices broke through the 200 day EMA. Read more
The euro drifted back to near net unchanged levels around 1.2675 after failing to sustain early gains following Sunday's bank stress test results, which came without nasty surprises and with capital shortfalls found to have mostly been covered. EUR-USD edged out a peak of 1.2714, which is the highest point seen since last Wednesday, before heading back under 1.27. Read more
EUR-USD managed some gains following as-expected bank stress test results. This follows upside surprises in German consumer confidence and Eurozone PMI data last week. Rare good news for the euro this might be, but in terms of EUR-USD this has been offset by strong data set out of the U.S. Read more
The following economic releases will have a disproportionate impact on the markets nest week: Tuesday Read more
The week before this, it seemed as though the bottom was beginning to drop out of the financial markets. Equities, which are the most visible financial market, sold off sharply and bonds rallied. News stories of the sell-off increased, adding to the overall intensity. Read more
FX trade was relatively quiet in N.Y. on Friday, with the dollar losing ground to the European majors, while posting modest gains against the yen and the CAD. The only data point was new home sales, which were revised down in August, and barely improved in September from there. Read more
Reports of a first Ebola case in New York city spooked equity markets and underpinned core sovereign bond prices but had limited evident impact in currency markets. EUR-USD was trading at near net unchanged levels on the day, at 1.2648 bid in early PM trade in Europe. Read more
