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Weekly Indicators: interest rates improve, while rail carloads and vehicle sales disappoint edition

By: New_Deal_democrat

August data started out with positive ISM manufacturing and Chicago PMI, positive consumer confidence, but only a weakly positive employment report. Motor vehicle sales were a significant negative. July data included positive personal income and spending, but a decline in the savings rate. Read more

XE Market Analysis: Asia - Sep 01, 2017

By: XE Market Analysis

The dollar fell sharply in early N.Y. trade on Friday, driven down by the weaker than expected U.S. August employment report. EUR-USD spiked up to 1.1980 from under 1.1920, as USD-JPY tumbled to 109.57 from 110.10. USD-CAD initially dropped nearly 100 points to 26-month lows of 1.2340, as cable topped at 1.2995, a near three-week high. Read more

XE Market Analysis: Europe - Sep 01, 2017

By: XE Market Analysis

The dollar has steadied after extending declines during the early part of the Asia-Pacific session. The losses had been sparked yesterday by Treasury Secretary Mnunchi, who said that a weaker currency is better for trade (although adding that a stronger dollar in the longer run "inevitable" due to confidence in the U.S.). Read more

XE Market Analysis: Asia - Aug 31, 2017

By: XE Market Analysis

The dollar started out on a firmer footing, and was aided early on by decent incoming U.S. data. U.S. political uncertainty continued to make itself known however, while month-end conditions provided some chop, resulting in USD gains later to come unwound. Read more

XE Market Analysis: Canadian Dollar Outperforms As Economy Soars

By: xemarketanalysis

OVERVIEW Euro continued to reverse previous week's gain as ECB sources warn of currency's rise. US data mixed, stronger consumer spending but weaker inflation and pending home sales unexpectedly fell. Eurozone inflation came in above expectations at 1.5% year-on-year in August, from 1.3% in July. German retail sales and unemployment data were slightly disappointing. Brexit talks conclude with little progress towards the future relationship. UK consumer confidence unexpectedly recovered slightly in August. Indian economy lost further momentum in the previous quarter, annualized GDP growth of 5.7%. Chinese manufacturing growth accelerated in August with the PMI rising to 51.7. HIGHLIGHT The Canadian Dollar rallied over one percentage point versus the Dollar and strengthened across the board following the release of much stronger than expected economic growth data. Read more

XE Market Analysis: North America - Aug 31, 2017

By: XE Market Analysis

The dollar rallied for a second day, getting a helping hand via re-energized selling in EUR-USD on the Reuters report of ECB sources saying that policymakers have been becoming increasingly worried about the pace of euro gains. EUR-USD dove to a new four-session low of 1.1846, earlier having met solid selling interest above 1.1900. Read more

XE Market Analysis: Europe - Aug 31, 2017

By: XE Market Analysis

The dollar continued higher for a second day, with the narrow trade-weighted USD index logging a four-session peak at 93.02 as EUR-USD ebbed to a four-session low at 1.1866. USD-JPY climbed above 110.50, extending the recovery from the four-month low seen on Tuesday at 108.26. Read more

XE Market Analysis: Asia - Aug 30, 2017

By: XE Market Analysis

The dollar rallied in the aftermath of the strong ADP jobs report, and the upgraded Q2 GDP revision, taking EUR-USD to 1.1895 lows from 1.1930 into the open. USD-JPY bounced to 110.43 from around 110.00. After a brief correction lower following a Trump tweet, which said "talking is not the answer" with regards to N. Read more

XE Market Analysis: Dollar Strengthens After GDP Revised Up

By: xemarketanalysis

OVERVIEW North Korea concerns ease, sending stocks higher. Upward revisions to US Q2 GDP growth have raised Fed rate hike expectations. ADP reported a higher than forecast number of US jobs created in August. UK mortgage approval data was stronger than expected, though consumer lending slowed. German CPI rose to 1.8% in August, exceeding expectations ahead of the ECB's meeting next Thursday. Eurozone economic sentiment jumped more than expected to 111.9 in August. HIGHLIGHT The Dollar index recovered from a multi-year low following the upwards revision to second quarter GDP growth data that showed the economy expanded at an annualized pace of 3%. Read more

XE Market Analysis: North America - Aug 30, 2017

By: XE Market Analysis

The dollar recovered some lost ground today. The narrow trade-weighted USD index was showing a 0.2% gain at 92.42 as of the early European PM session, up from yesterday's low at 91.55, which is the lowest level seen since January 2015. EUR-USD fell to a low of 1.1938, down over 40 pips from yesterday's New York closing level, though subsequently managed to rebound above 1.1950 following data showing that economic confidence to be much stronger than expected in the Eurozone in the August ESI survey, which at a 111.9 headline reading is the best since July 2007. Read more

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