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XE Market Analysis: Sterling Slumps as UK Growth Revised Down for Q1

By: xemarketanalysis

OVERVIEW Pound slides across the board as UK Q1 GDP is revised lower. FOMC minutes show current approach appropriate, and futures still show a 100% chance of a rate hike in June. The Euro is solid against majors, and momentum from 'no taper' comments remains. South African Reserve Bank leaves interest rates unchanged at 7%. HIGHLIGHT The Pound has slumped today as the Q1 growth number for the UK was revised down to 0.2%, making the annual growth rate 2.0%. Read more

Positive trend in new and existing home sales remains intact

By: New_Deal_democrat

Now that we have both new and existing home sales as well as last week's housing permits and starts, a clearer picture of the state of the market appears. This month's new home sales report assumed added importance in the context of interest rates having risen from last summer's lows, and permits and starts backing off their recent highs. Read more

XE Market Analysis: North America - May 25, 2017

By: XE Market Analysis

The dollar found its feet after posting fresh post-FOMC minutes lows during the early part of European trading. USD-JPY rose to the 111.90 area, up from the post-FOMC minutes low at 111.48. EUR-USD logged a two-session high at 1.1250 during the London AM session before ebbing into the low 1.12s. Read more

XE Market Analysis: Europe - May 25, 2017

By: XE Market Analysis

The dollar has been trading softer since the minutes to the recent FOMC meeting were releases, showing that Fed to be of a cautious mind-set, that it would be prudent to wait for evidence that recent weak data is transitory before raising rates again. Read more

XE Market Analysis: Canadian Dollar Rallies As Central Bank Keeps Rates On Hold

By: xemarketanalysis

OVERVIEW Markets are in a typically quiet trading session ahead of the minutes from the Federal Reserve's last meeting. Moodyís downgraded Chinaís debt rating, citing rising debt levels; the outlook was revised to negative as well. Existing home sales in the US fell more than expected last month, but remained close to their highest levels in a decade. Swedish consumer confidence strengthened more than expected in May, rising from 103.4 to 105.9 Norwegian unemployment unexpectedly rose from 4.3% to 4.5% in March. New Zealand's trade surplus rose to NZ$578 million in April, bringing the annual deficit down from NZ$3.67 billion to NZ$3.48 billion. Sentiment among Japanese manufacturers declined for the first time in nine months in April with the Tankan index dropping to 24%. South African inflation cooled more than expected last month, with CPI falling to 5.3%, within the central bank's target range. HIGHLIGHT The Bank of Canada left interest rates unchanged at 0.5% as expected and were fairly sanguine about the recent cooling in the rate of CPI, saying inflation is broadly in line with their April forecasts. Read more

XE Market Analysis: Asia - May 24, 2017

By: XE Market Analysis

The dollar trended a bit higher through the N.Y. morning session on Wednesday, though was smacked lower in the aftermath of the FOMC minutes as the Fed indicated caution, saying it would be prudent to wait for evidence that recent weak data is transitory before raising rates again. Read more

XE Market Analysis: North America - May 24, 2017

By: XE Market Analysis

The dollar has been trading mixed today, gaining and then ebbing versus the yen, recouping some lost ground versus the euro and sterling, and trading softer versus the Canadian dollar, which has been buoyed by fresh one-month highs in the price of crude. Read more

XE Market Analysis: Europe - May 24, 2017

By: XE Market Analysis

The dollar has rebounded some. The narrow USD index, which on Monday logged a six-month low at 96.70 has repaired above 97.30. EUR-USD has logged a two-session low at 1.1171, putting in some distance from yesterday's two-month. USD-JPY clocked a 5-sesison high of 112.03. Read more

XE Market Analysis: Asia - May 23, 2017

By: XE Market Analysis

The dollar was mostly higher in N.Y. trade on Tuesday, taking the DXY off its 6-month lows of 96.80 seen on Monday, to a high of 97.35. The greenback turned a bit softer after weak U.S. new home sales, though recovered broadly into the London close. EUR-USD came from 1.1249 highs to a low of 1.1177, while USD-JPY rallied to 111.79 after printing 110.99 lows. Read more

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