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Weekly Indicators: it's all about bond yields edition

By: New_Deal_democrat

The sparse October data in this short week included a big jump in leading indicators (heavily influenced by a bounce back in hurricane-related data, an increase in existing home sales, a decline in total durable goods, but an increase in core durable goods, and a decline in both the present and future outlook in the University of Michigan sentiment index. My usual note: I look at the high frequency weekly indicators because while they can be very noisy, they provide a good Now-cast of the economy, and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. Read more

XE Market Analysis: Asia - Nov 24, 2017

By: XE Market Analysis

FX trade was relatively quiet in N.Y. on Fridahy, with many traders remaining on holiday following Thursday's Thanksgiving Day. The greenback was mostly lower however, pushing the DXY to a two-month base of 92.68. EUR-USD vaulted to 1.1944 highs, while cable touched seven-week highs of 1.2259. Read more

XE Market Analysis: US Dollar Under Pressure as Euro Gains

By: xemarketanalysis

OVERVIEW Quiet holiday-thinned trade has caused the US Dollar to hit 5-week lows. GBP supported by positive Brexit noises. CAD is quiet but oil prices are higher. HIGHLIGHT The Euro has risen to a 2-month high versus the Dollar as recent economic data continues to show growing momentum across the single currency bloc. Read more

XE Market Analysis: North America - Nov 24, 2017

By: XE Market Analysis

The dollar traded mixed today, losing ground to the euro and, to a lesser extent, the pound, while grinding higher versus the yen and Canadian dollar, amongst other currencies. Strong data out of the Eurozone, today and yesterday, fed a bid for the euro, while the dollar settled against other currencies today after underperforming yesterday as markets continued to digest the Fed minutes to the recent Fed policy meeting, which had highlighted policymaker concerns about the persistence of benign inflationary readings. Read more

XE Market Analysis: Europe - Nov 24, 2017

By: XE Market Analysis

The dollar has managed to find a footing, with USD-JPY recouping above 111.50, putting in a little distance from the two-month low seen at 111.06 during early trading yesterday. EUR-USD dipped under 1.1840 after earlier edging out a nine-day high of 1.1859. Read more

XE Market Analysis: North America - Nov 23, 2017

By: XE Market Analysis

The dollar has remained on a weakening track following soft data out of the U.S. yesterday, which was followed up by the minutes to the recent Fed policy meeting highlighting policymaker concern about the persistence of benign inflationary readings. EUR-USD rallied to an eight-day high of 1.1847 while the USD index (DXY) concomitantly fell to a one-month low. Read more

XE Market Analysis: Europe - Nov 23, 2017

By: XE Market Analysis

The dollar has remained on a downward path. USD-JPY extended the sharp decline of yesterday, logging a two-month low of 111.06 in a thin Asia-Pacific session, lacking Tokyo participation due to Japan's version of thanksgiving, before settling around the 111.30 mark. Read more

XE Market Analysis: Asia - Nov 22, 2017

By: XE Market Analysis

The dollar took it on the chin in N.Y. trade on Wednesday, taking the DXY to one-week lows of 93.44. Hawkish ECB speak from Coeure, who hinted at an end to QE in September next year. In addition, FX market jitters over Yellen comments on low inflation dented the dollar. Read more

XE Market Analysis: UK Budget Unveils Need for Increased Borrowing

By: xemarketanalysis

OVERVIEW Chancellor Hammond plans to spend more over the next couple of years to offset the impact of Brexit. US consumer sentiment index dropped to 98.5 from 100.7 in October as we head towards the Thanksgiving holiday. The Euro demonstrates resilience despite the political uncertainty going into next year. HIGHLIGHT The UK budget gave first-time buyers a boost with the stamp duty being axed for up to £300k, while the economic growth estimate was downgraded. US DOLLAR The US Dollar is weaker in reaction to the dip in consumer confidence while the Nasdaq index opens at yet another record high. BRITISH POUND The Pound edged higher again against the Dollar as the investment into the economy by borrowing more has been generally accepted as a positive for the Sterling. Read more

XE Market Analysis: Asia - Nov 21, 2017

By: XE Market Analysis

The dollar was mostly sideways in N.Y. trade on Tuesday. with U.S. players winding activity down into Thursday's Thanksgiving holiday. EUR-USD was contained to a 1.1714 to 1.1751 trading band, while USD-JPY dipped early to 112.18 on reported Japanese selling, before settling near 112. Read more

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