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Today we learned that EU inflation has dropped again. Eurostat announceed: Euro area1 annual inflation was 0.5% in March 20142, down from 0.7% in February. A year earlier the rate was 1.7%. Monthly inflation was 0.9% in March 2014. European Union3 annual inflation was 0.6% in March 2014, down from 0.8% in February. Read more
The dollar has traded mixed against the other majors, rising against the yen but declining against the euro amid a strong rally in EUR-JPY, while Cable was well bid following a much better than expected drop in U.K. unemployment to 6.9% from 7.2% last. Read more
USD-JPY nudged above 102.00 to an eight-day high of 102.25 on the back of general yen weakness as the currency, once again, correlated inversely with stock market direction. EUR-JPY lifted to a five-day peak of 141.32. The MSCI Asia Pacific equity index was up 0.7% in PM trade in Tokyo while the Nikkei surged over 2.5%, benefitting from the tech-led rebound on Wall Street on Tuesday. Read more
The dollar majors have seen narrow ranges during pre-European trade in Asia. China lending figures pointed to a slowing economy, which weighed on China and Hong Kong stock markets, but had little impact on currencies (and nor most other stock markets in the region, which rose on the coattails of Wall Street rally on Monday), aside from causing some minor weakening in the AUD. Read more
Not too much net movement today. EUR-USD managed to edge out a fresh sic-day low of 1.3790 in a move triggered by a sub-expectations German ZEW sentiment outcome, though this was offset by forecast-beating trade figures and the euro settled back on the north side of 1.3800. Read more
The dollar perked up some in the aftermath of the bit firmer headline and core U.S. CPI data early in the session, though as equities turned solid gains into big losses, the greenback faded. USD-JPY touched 101.50 after failing to break 102.00 for the umpteenth time, while EUR-USD reclaimed the 1.3800 handle after finding support into 1.3790. Read more
The dollar stayed firm against the euro in N.Y. trade on Monday, as the ECB talked down the euro overnight, saying further easing could come should the currency firm further. EUR-USD touched 1.3809 lows, before edging up over 1.3825. USD-JPY meanwhile, was again pushed back from the 102.00 level, and looks more and more vulnerable to the downside in the near term. Read more
For over 10 years, China reliably printed positive economic statistics. No more. For the second month in a row, Chinese economic numbers have disappointed. Exports dropped 6.6% Y/Y in the latest report, indicating that last month’s sharp drop may have been a harbinger of bad news. Read more
This was a very light week for monthly data. March import, export, and producer prices were up more than expected. February consumer credit increased substantially. The preliminary consumer confidence reading for April improved. My weekly report on the high frequency weekly indicators is meant to provide an up-to-this-week snapshot of the economy. Read more
The dollar attempted to rally in morning trade in N.Y. on Friday, following a week of persistent USD selling. The pre-weekend position paring didn't last terribly long however, and the unit make its way lower in light afternoon dealings. EUR-USD managed to print 1.3900, though was capped just over the figure. Read more
