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The dollar was mixed through the morning session, firmer versus the euro and softer against the yen. Weekly jobless claims were in line with forecasts, as was personal income gains, though consumption missed the mark. Equities moved sharply lower through the morning, as yields fell back in sympathy. Read more
Sterling rallied after the BoE announced measures to cap mortgage lending, while the AUD and other dollar bloc currencies rose in sympathy with stock markets, which rallied across Asia and Europe following Wall Street's lead as the markets reacted to the drop in U.S. Read more
The AUD and other dollar bloc currencies rose in sympathy with stock markets, which rallied across Asia following Wall Street's lead as the markets reacted to the drop in U.S. Treasury yields and implications on Fed policy following the ugly Q1 GDP revision. Read more
The huge downward Q1 GDP revision, along with a soft durables report, sent the dollar broadly lower in early N.Y. trade on Wednesday. The greenback moved from 1.3615 to 1.3651 versus the euro after the data, and EUR-USD largely held those gains through the session. Read more
We’ve seen a fair amount of hyperventilating about the final 1Q GDP number printing a negative 2.9%. However, let’s take a deep breath and look at the facts and data to get an idea not only for what happened but it will continue. Let’s start with this: assume for a minute the weather is very cold and unpredictable. Read more
The AUD and other dollar bloc currencies continued to soften amid a risk-averse sentiment as unrest in Iraq and Ukraine dominated headlines in markets otherwise lacking strong leads. AUD-USD ebbed to a one-week low of 0.9354, which is nearly a big figure down on the two-month high seen on Monday. Read more
The AUD and other dollar bloc currencies continued to soften amid a risk-averse sentiment as stocks in Asia fell, following Wall Street's lead, as escalating tensions in Iraq saw oil prices extend higher. AUD-USD ebbed to a one-week low of 0.9354, which is nearly a big figure down on the two-month high seen on Monday. Read more
The dollar spent the morning ticking modestly higher, getting a boost from firmer house prices, an uptick in consumer confidence, and a sharp rise in new home sales. EUR-USD made its way to 1.3594 lows, after opening near 1.3620. USD-JPY rallied over 102.15, after finding support under 101.90. Read more
New single family home sales reported this morning were a blowout. There's no doubt about that. Just take a look at the raw regional numbers from the Census Bureau. On both a monthly and a YoY basis, there were *extremely* sharp increases in 3 out of 4 regions. So what happened to the housing slowdown? Actually I think it is still here, although with mortgage rates lower YoY I expect it to abate (not completely) by the end of the year. Two months ago, new home sales for March were reported as the worst new home sales report in two years: http://online.wsj.com/news/articles/SB10001424052702303380004579519431631415734 plunging -14% from February, down to 384,000. Read more
Abenomics has been in place for about two years now. Its central goal was to get the Japanese economy out of its near two decade malaise by using three "arrows:" a stimulative monetary policy, fiscal stimulus and policy reform, with the ultimate desired end result being to get the country out of its deflationary spiral. Read more
 by the end of the year.
Two months ago, new home sales for March were reported as the worst new home sales report in two years:
http://online.wsj.com/news/articles/SB10001424052702303380004579519431631415734
plunging -14% from February, down to 384,000.&p[images][0]=/system/files/styles/large/s3/image_130.jpg?itok=e6BzVoJX){kind=link}