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Weekly Indicators: housing neutral but stocks and jobless claims near records edition

By: New_Deal_democrat

August data included an increase in the Index of Leading Indicators, helped in part by an increase in housing permits and starts. Existing homes sales declined. 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 - Sep 22, 2017

By: XE Market Analysis

The dollar was marginally firmer in N.Y. trade on Friday, with end of week position squaring behind the move. EUR-USD slipped under 1.1940 from over 1.1980 at the open, while USD-JPY stumbled early, reportedly on pre-weekend safe-haven yen buying the driver. Read more

XE Market Analysis: North America - Sep 22, 2017

By: XE Market Analysis

USD-JPY dove under 112.00 in Tokyo trading after North Korea threatened to detonate an H-bomb in the Pacific. The pair left a low at 111.65 before settling and recouping the 112.00 level during the London AM session. The dollar posted declines against other currencies. Read more

XE Market Analysis: Europe - Sep 22, 2017

By: XE Market Analysis

The dollar has traded softer, correcting some following the sharp gains seen in the wake of the Fed's hawkish turn on Wednesday. EUR-USD nudged above 1.1960, up over a big figure form the post-Fed low, and USD-JPY tipped to a low of 111.65, correcting after rallying in eight of the previous nine sessions and putting distance in from yesterday's two-month peak at 112.71. Read more

XE Market Analysis: Asia - Sep 21, 2017

By: XE Market Analysis

The dollar gave back some of its post-FOMC gains seen on Wednesday, losing modest ground to all the major currencies. The move came despite decent U.S. data, which saw jobless claims below expectations, and a firmer Philly Fed index and leading indicators. Read more

XE Market Analysis: Dollar Rally Fades as Market Doubts Fed Plans

By: xemarketanalysis

OVERVIEW USD had rallied strongly after FOMC announced an end to Q.E. and signaled a further rate rise. GBP firm after BBC reports PM May will announce €20 billion payments to EU. CAD recovering from a post-Fed dip on strong domestic data. Read more

August housing permits and starts: restrain your enthusiasm (part 2 of 2)

By: New_Deal_democrat

This is the conclusion of my examination of housing permits and starts for August. Yesterday I noted that the good news in overall permits was not confirmed by the less volatile but equally leading single family permits, was not confirmed by starts, and was not confirmed when we remove the hurricane-affected South (where, paradoxically, builders may have accelerated taking out permits before the storms, as the relevant offices were likely to be disrupted for weeks afterward). I wanted to follow up with one final note: in the past I have noted that single family permits typically peak before multi-family permits. Read more

XE Market Analysis: North America - Sep 21, 2017

By: XE Market Analysis

The dollar posted fresh highs versus the yen, Swiss franc and some other currencies, though the overall breadth and momentum of gains waned as markets digest the Fed's hawkish up-gearing. EUR-USD floated back above 1.1900, leaving unchallenged yesterday's post-Fed low at 1.1861. Read more

XE Market Analysis: Europe - Sep 21, 2017

By: XE Market Analysis

The dollar has opened in London about 1% higher following the Fed's announcement yesterday, which confirmed the start of a QT program, as had been widely anticipated, but showed via the dot plot that another rate hike is in the works before year-end followed by another three hikes in 2018. Read more

XE Market Analysis: Asia - Sep 20, 2017

By: XE Market Analysis

FX trade was quiet through the morning session, with activity muted ahead of the FOMC announcement. The dollar rose, then fell, then rose again following the Fed, as it detailed the kickoff of its QT program, as widely expected, and left another 2017 rate hike on the table. Read more


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