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XE Market Analysis: Europe - Jul 29, 2016

By: XE Market Analysis

The yen surged after the BoJ under-delivered today following its policy meeting. USD-JPY slumped nearly three big figures, hitting a 17-day low of 102.72 from a high of 105.63. Yen volatility, already at an eight-year peak, is likely to remain high. Hopes for more easing in September may keep the Japanese currency from climbing to 100. Read more

XE Market Analysis: Asia - Jul 28, 2016

By: XE Market Analysis

The dollar started the N.Y. session on a softer footing on Thursday, though perked up some as the day unfolded. EUR-USD managed highs of 1.1108 before slipping back under 1.1070 into the close. USD-JPY meanwhile, bottomed at 104.68 at mid-morning, then rallied to 105.20 highs on pre-BoJ short covering. Read more

Good news for both single family and apartment housing

By: New_Deal_democrat

Housing is the most positive aspect of the US economy right now, but prices and rents are a real concern. Housing permits and new home sales are two of the best long leading indicators there are. Here's the long term view: Single family permits have continued to climb slowly (blue in the graph below), and new single family home sales (red) just set another post-recession record: This is confirmed by the continuing rise in purchase mortgage applications: The only fly in the ointment - and it is a significant one longer term - is that the failure of mortgage rates to set new lows means that refinancing remains somnolent: (h/t Mortgage News Daily: http://www.mortgagenewsdaily.com) Refinancing has been a tool of middle class coping for 35 years, and this source of additional income is about tapped out. Meanwhile, as I have often pointed out, sales (new home sales, blue) lead prices (Case Shiller Index, red): I expect house prices to continue to rise over the next year. Condos and apartments are something of a substitute good, as well as a place for young adults to start. Read more

XE Market Analysis: Spain's Unemployment Drops to 20%

By: xemarketanalysis

OVERVIEW The Federal Reserve kept interest rates on hold last night. German unemployment fell more than expected in July and the jobless rate in Europe's biggest economy remained at a record low of 6.1%. Eurozone economic sentiment rose unexpectedly in July, despite the anticipated negative impact on the economy by Brexit. A UK consumer confidence index plunged nearly 5 points to 106.6 in July - matching its biggest fall in six years. HIGHLIGHT Spain's unemployment rate fell to 20% in the second quarter, its lowest in nearly six years, fueled by a tourism boom and three years of solid economic growth. Read more

XE Market Analysis: North America - Jul 28, 2016

By: XE Market Analysis

The dollar continued its post-FOMC weak spell. EUR-USD lifted to a 13-day high of 1.1119. The Fed statement stated that near-term risks to the economy had reduced, but expressed no sign of urgency to tighten. This was followed up by forecast beating German labour and Eurozone ESI sentiment data today, joining German Ifo business confidence and preliminary Eurozone PMI data showing that the fallout from the UK's decision to leave the EU is mostly impacting UK economic activity. Read more

XE Market Analysis: Europe - Jul 28, 2016

By: XE Market Analysis

The dollar has come off the boil in the wake of the as-expected Fed statement following an as-expected decision to leave policy settings where they are. The Fed said that near-term risks to the economy had reduced, noting firm consumption and recovering momentum in the labour market. Read more

XE Market Analysis: Asia - Jul 27, 2016

By: XE Market Analysis

FX trade was subdued ahead of the FOMC announcement, with major dollar pairings idling inside of relatively narrow ranges. The dollar rallied broadly, if briefly after the Fed, where the statement gave markets a more upbeat take on the labor market and economic conditions. Read more

XE Market Analysis: Japan Stimulus Expected at 28 Trillion Yen

By: xemarketanalysis

OVERVIEW Nikkei bounced on expectations of a stimulus package to be announced on the 2nd August to be towards the top range of expectations while market awaits FOMC rate decision. HIGHLIGHT On 2nd August the Bank of Japan is expected to announce a 28 trillion Yen (260bn USD) stimulus package which is expected to include 13 trillion Yen of fiscal measures. Read more

XE Market Analysis: North America - Jul 27, 2016

By: XE Market Analysis

The yen fell amid choppy trade as markets digested news from Japanese PM Abe that the government is planning a Y28 tln stimulus package, exceeding forecasts for a Y20 tln package. There were also headlines saying that Japan was considering issuing 50-year bonds, though this was subsequently denied by the MoF. Read more

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