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XE Market Analysis: Asia - Feb 28, 2014

By: XE Market Analysis

Aside from USD-JPY, which rallied on firmer yields and better risk levels, the dollar was soft through the N.Y. session. Revised Q4 GDP was a tick under expectations, though Chicago ISM, Michigan sentiment, and pending home sales beat expectations. EUR-USD traversed a narrow range on either sidee of 1.3800, as USD-JPY rallied nearly 75 points from overnight lows, touching 102.25. Read more

XE Market Analysis: North America - Feb 28, 2014

By: XE Market Analysis

Various movements were seen today. The EUR surged on the above-forecast Eurozone HICP flash estimate for February, which markets took this as increasing the odds that the ECB will refrain from taking further monetary action at the upcoming March policy meeting. Read more

XE Market Analysis: Europe - Feb 28, 2014

By: XE Market Analysis

The CNY posted its biggest one-day loss versus the USD as the PBoC guided the currency lower for a ninth consecutive day, while the JPY rose across the board following a mostly above expectations set of data that may reduce expectations of the BoJ taking further easing measures this year. Read more

XE Market Analysis: Asia - Feb 27, 2014

By: XE Market Analysis

The dollar was again mixed in N.Y. trade on Thursday, losing ground to the euro, pound and CHF, while posting modest gains versus the yen and CAD. U.S. data was a bit worse than expectations, as jobless claims rose, and durable goods orders were soft (though better ex-trans). Read more

XE Market Analysis: North America - Feb 27, 2014

By: XE Market Analysis

EUR-USD dropped to two-week lows under 1.3650 amid a broad bout of euro selling on news that the acting president of the Ukraine warned Russia not to consider military intervention in Crimea, which follows the U.S. warning to Moscow that such as course would be a "grave mistake." EUR-JPY shed over 100 pips in making a two-week low of 138.79 and EUR-CHF has logged a two-month low of 1.2157. Read more

XE Market Analysis: Europe - Feb 27, 2014

By: XE Market Analysis

The AUD came under pressure following Q4 capital expenditure data that showed a 5.2% decline, worse than the median forecast for -1.3% and down from +3.6% in the previous quarter. The data prompted downward revisions to Australian Q4 GDP forecasts. AUD-USD dropped to a 17-day low of 0.8917, and remained under 0.8950 thereafter. Read more

XE Market Analysis: Asia - Feb 26, 2014

By: XE Market Analysis

The dollar firmed up broadly in N.Y. trade on Wednesday, taking EUR-USD under the 1.3700 mark for the first time in a week, and USD-JPY back over 102.60, after again finding support ahead of 102.00. Euro stops were tripped up at 1.3680, and subsequently, better U.S. Read more

New home sales for January show surprising strength but still deceleration

By: New_Deal_democrat

So, was I surprised by this morning's new home sales number, which was the highest in five years? Yes. There's part of me that thinks the first digit was a mistake! That being said, does it contradict my thesis that higher mortgage rates are causing a housing slowdown? No. The month to month variability in the new home sales report is very volatile among the major housing reports. Read more

USD/JPY Consolidating in Triangle Pattern

By: HaleStewart

Above is a chart of the USD/JPY pair for the last six months. Notice three clear technical events. 1.) The pair rallied from ~97.25 to 105.25 from late October to the end of December. 2.) Traders took profits, sending the pair down to the ~101 level by the end of January. 3.) The pair has been trading in a consolidating triangle pattern since the beginning of February. Read more

XE Market Analysis: North America - Feb 26, 2014

By: XE Market Analysis

Another low in the CNY was the main development as the main currencies traded in narrow ranges. EUR-USD mostly flat-lined at familiar levels in the mid-1.37s, having quickly unwound a pop high to 1.3757, and USD-JPY was steady in the mid-to-low 102s. Cable retuned to near net-unchanged levels on the day after dipping in the initial wake of the second-estimate U.K. Read more

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