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XE Market Analysis: Fed Dismisses Weak Growth

By: xemarketanalysis

OVERVIEW Eurozone service sector activity growth accelerated to a fresh six-year high in April. The US trade deficit narrowed slightly in March as both imports and exports declined. The UK service sector unexpectedly saw activity growth increase last month. UK mortgage approvals fell to a six-month low in March as the housing market continues to cool. Oil prices fell to their lowest level since November. HIGHLIGHT The Federal Reserve kept interest rates on hold as expected last night, with their target range of 0.75-1.00%. Read more

XE Market Analysis: North America - May 04, 2017

By: XE Market Analysis

The main event was a euro rally following the latest opinion poll out of France, with the Opinionway survey showing support for pro-EU Macron rising to 61% versus 39% for Le Pen, up from respective 60% and 40% readings in the prior survey. An upward nudge in final April Eurozone services PMI didn't do the euro any harm either. Read more

XE Market Analysis: Europe - May 04, 2017

By: XE Market Analysis

The dollar has been on the rise following the Fed's statement yesterday, which noted that economic slowing in Q1 was "transitory" while affirming that it remains on track to tighten rates further. USD-JPY rallied to a six-week peak at 112.89, making today the fourth consecutive higher high on the daily chart. Read more

XE Market Analysis: Asia - May 03, 2017

By: XE Market Analysis

The FX market was quiet through the morning session, with traders sidelined ahead of the FOMC announcement. The dollar initially rallied, then fell, then rallied again after the Fed, where there was no shift in policy, as expected. The statement indicated the Fed remains on track for a gradual pace of rate increases, and said the "solid" labor market continues to strengthen, with the near term risks to the outlook "roughly balanced". Read more

XE Market Analysis: Markets Waiting on Fed's Rate Decision

By: xemarketanalysis

OVERVIEW Markets are quiet today as investors await the Federal Reserve's interest rate decision. The US non-manufacturing PMI jumped to 57.5 in April, beating expectations of 55.8. German unemployment fell by 15,000 and the unemployment rate remained at its lowest level since 1990. UK Brexit Minister David Davis dismissed reports in the Financial Times that the EU was preparing to demand €100 billion from Britain. Read more

Housing and cars: update for April

By: New_Deal_democrat

It's time for a monthly update on houses, and let's take a little look at vehicle sales as well. If there is going to be a consumer downturn, generally the first thing that gets turns down is housing, over a year before the actual downturn, and then car sales, about 6 to 9 months before the downturn. The story on housing through the first quarter of the year was surprisingly good. Read more

XE Market Analysis: North America - May 03, 2017

By: XE Market Analysis

The dollar majors have been lacking directional ambition into the Fed's policy announcement later today, where Bloomberg calculates there is a 12.8% chance for a 25 bp rate hike. EUR-USD settled moderately lower after eking out a three-session peak at 1.0936 during a thin, holiday-affected Asia session (markets in Japan, South Korea and Hong Kong were closed for public holidays). Read more

XE Market Analysis: Europe - May 03, 2017

By: XE Market Analysis

The dollar majors have been plying narrow ranges into the Fed's policy announcement later today, where Bloomberg calculates there is a 12.8% chance for a 25 bp rate hike. EUR-USD eked out a three-session peak at 1.0936, and is presently settled near net unchanged on the day at 1.0921 bid. Read more

XE Market Analysis: Asia - May 02, 2017

By: XE Market Analysis

FX trade was again quiet in N.Y. on Tuesday, with narrow ranges the rule. There was little in the way of data to drive the market, and traders now will largely hunker down into the FOMC announcement on Wednesday, and the U.S. jobs report on Friday. EUR-USD idled between 1.0889 and 1.0917 through the day, while USD-JPY eased into 112.03 lows from trend highs of 112.30. Read more

XE Market Analysis: Fragile State of Debt Deal

By: xemarketanalysis

OVERVIEW Volatility hits the Euro this week as the brakes are put on the Greek debt deal. Sterling hits a three-year high against the US Dollar after impressive manufacturing figures. US Treasury Secretary Munchin suggests a possibility of issuing long-term bonds. HIGHLIGHT The European Debt Crisis is back in the spotlight as Greek officials negotiate with its debtors for a new deal. Read more

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