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It was a quiet session in Asia. The dollar held steady after yesterday's pick up in U.S. yields. The 10-year benchmark rose in Asia to 2.607%, which supported the dollar on dips and left EUR close to 1.3200 and USD-JPY close to 100.00. AUD-USD remained heavy following the stop hunt below 0.9180 after yesterday's European close and it extended to 0.9130 overnight. Read more
The dollar added marginally to early gains after the firmer flash PMI and new home sales outcomes, taking EUR-USD to 1.3200 lows, and filling the post-German PMI release "gap" up over 1.3250. USD-JPY traded on a firmer footing over 100.25, supported by elevated Treasury yields. Read more
Risk appetite improved in Europe after a poor session in Asia. Today's focus was on PMI data. HSBC's flash reading for China hit an eleven month low and former PBoC Xia Bin said China has signs of a crisis. In contrast, Eurozone data beat expectations on a better than expected reading from France and strong numbers from Germany. Read more
The dollar found a modicum of support in Asia after China's HSBC flash manufacturing PMI hit an eleven month low of 47.7. The dip in sentiment was compounded by an article in the China Securities Journal, which claimed that China Q4 economic growth may be less than 7%, adding that it's lower limit for growth is misunderstood. Read more
FX trade was light in N.Y. on Tuesday, though the dollar lost ground on the back of softer risk taking sentiment, and a weak Richmond Fed index outcome. EUR-USD was finally able to pierce the a.3200 level decisively, managing 1.3230 highs, before holding steady over the figure through the session. Read more
FX trade was fairly quiet in N.Y. on Monday, though the dollar lost ground to virtually all major currencies. Incoming data was weaker than expected, as both existing home sales, and the Chicago Fed index missed the mark. Equities however, manage to hold onto modest gains through the session, while Treasury yields were nearly flat on the session. Read more
The dollar was softer overall. In Asia, USD-JPY profit taking stood out after longs cut positions as the LDP secured a majority in the Upper House as expected. In Europe, activity was extremely low again, but Cable stop loss buying featured above 1.5300 and dragged EUR-USD up to the 1.3190 area. Read more
The dollar was easier on USD-JPY profit taking after the LDP secured a majority in the Upper House elections, which was in line with expectations. The G20 pledged to put growth before austerity in order to revive the global economy, which was still 'too weak', though it warned that it would adjust these policies with care in order to avoid volatile markets. Read more
The greenback was moderately lower in light Friday N.Y. trade, as some risk came off the table into the weekend. There was no data to absorb, so focus stayed on pre-weekend position adjustments. Equities were softer, as Treasury yields slipped a bit. EUR-USD ran up from lows near 1.3100 to give the 1.3150 level a quick look, as USD-JPY cruised in a tight range over 100.10. Read more
USD-JPY corrected lower to trade back into the 100.00 region, which was the catalyst for broader dollar selling and helped EUR-USD up to 1.3150. There was some positive EUR news after the Portuguese government survived a no confidence vote. AUD-USD steadied as dollar losses lifted it out of the 0.9150 area back towards 0.9200, though further gains were limited due to increased expectations of a RBA rate cut in August. Read more
