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The dollar majors are near net unchanged following an uneventful pre-Europe session in Asia. The AUD wobbled following mixed housing finance data, with the above-forecast headline offset by less encouraging details, but overall impact was limited and AUD-USD remained well within its yesterday range, posting a 20 pip rang in the high 0.93s. Read more
The dollar was mixed in N.Y. trade on Thursday, though once again caught inside of narrow trading ranges. The euro came under some pressure early on, on the back of EU data weakness and Portuguese bank concerns. EUR-USD could only manage 1.3590 lows however, with good bidding interest under the figure noted. Read more
The dollar recovered against most currencies from the losses seen in the wake of the FOMC minutes yesterday, though USD-JPY was a notable exception as it dove amid a risk-aversion trade, with stocks taking a dive in Europe following a batch of dissatisfying corporate earnings reports. Read more
USD majors were mostly steady, while AUD and NZD were movers in pre-Europe trade in Asia. EUR-USD managed to eke out a fresh one-week high of 1.3649. The FOMC minutes didn't show any ratcheting up in hawkish language, not giving any indication of a policy change anytime soon with policymakers seeing more slack in the jobs market than is reflected by the unemployment rate. Read more
The Financial Times recently reported economists are revising the dates when they are projecting the Federal Reserve will start to lower rates. The main reason for their pulling the date forward is the recent downward movement of the US unemployment rate to 6.1%. Read more
Another quiet day in FX Land in N.Y. on Wednesday, with tight ranges again the rule rather than the exception. The greenback lost some ground to the European majors through the morning, though later managed to recoup some ground. EUR-USD traded briefly over 1.3640 from lows under 1.3605, before fading again. Read more
The dollar has been trading fairly steadily against the other main currencies into today's FOMC minutes. EUR-USD edged out a six-day high at 1.3630 after ECB's Coene said that the euro wasn't strong, while 10-year T-note versus Bund yield differential also ebbed under 135 bp from 138-plus levels. Read more
Back in the 1950s and 1060s, the rule was that an unemployment rate of 6% marked the boundary between a recession and an expansion. We haven't seen that in 7 years, but it appears likely we will see it within 3 or 4 months. Read more
EUR-USD has remained buoyant, reaching a six-day high at 1.3623 and subsequently holding above 1.3610. The firmer tone coincides with a corrective narrowing in the 10-year T-note versus Bund yield differential, which has ebbed back under 135 bp from 138-plus levels. Read more
A lack of data, a slide on Wall Street, and lower Treasury yields all combined to weigh on the dollar in N.Y. trade on Tuesday. This said, FX trading ranges were very narrow, and activity overall relatively subdued. As was the case on Monday, EUR-USD traded a 1.3590-1.3600 range through mid morning, before managing 1.3617 highs, and then settling around 1.3610 (20-day moving average). Read more
