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XE Market Analysis: Europe - Jun 01, 2016

By: XE Market Analysis

The yen rallied on a safe haven bid, with stocks in Asia mostly turning lower following a slew of mostly underwhelming manufacturing PMI reports, from China, to Japan itself, to Taiwan, Indonesia and through to India. Japanese capital spending figures, meanwhile, showed a less severe than expected slowdown in growth, while the final May manufacturing PMI report was revised up a tad to 47.7, from 47.6, but this was still a three-year low and down from 48.2 in April. Read more

XE Market Analysis: Asia - May 31, 2016

By: XE Market Analysis

Aside from USD-JPY, the dollar was mostly firmer in N.Y. trade on Tuesday. The session started with in-line earnings, and better than expected consumption data, which helped sentiment initially. Softer consumer confidence and Chicago PMI numbers however, turned the tide on Wall Street sending stocks mostly lower. Read more

XE Market Analysis: North America - May 31, 2016

By: XE Market Analysis

The dollar has traded mostly softer today, correcting after gaining on Monday. AUD-USD led the way from the Sydney session following Australian data showing that exports made a 1.1 percentage point contribution to Q1 GDP, up from a zero contribution in the previous quarter and above the consensus view for a 0.7 percentage point outcome. Read more

XE Market Analysis: Europe - May 31, 2016

By: XE Market Analysis

The Aussie outperformed today after data showed exports made a 1.1 percentage point contribution to Q1 GDP, up from a zero contribution in the previous quarter and above the consensus view for a 0.7 percentage point outcome. This sent economists scurrying to upgrade GDP forecasts ahead of tomorrow's release of growth data for the March quarter. Read more

XE Market Analysis: North America - May 30, 2016

By: XE Market Analysis

EUR-USD rebounded to the mid-1.12s after clocking an 11-week low of 1.1098 during Asian trade. Forecast beating Eurozone ESI confidence and French GDP data helped give the euro a lift in thin markets (both UK and U.S. closed today). USD-JPY rallied to a one-month peak of 111.40, partly reflecting broader dollar gains and partly broader yen weakness. Read more

XE Market Analysis: Europe - May 30, 2016

By: XE Market Analysis

USD-JPY rallied to a one-month peak of 111.32, partly reflecting broader dollar gains and partly broader yen weakness. The gains in the U.S. currency reflect the rekindling of expectations in Fed tightening expectations, while, despite this, generally firmer stock markets in Asia have encouraged yen selling. Read more

International Economic Week in Review: A Detailed Look at the EU

By: HaleStewart

This week, I looked at that the ETFs for the six largest European countries. While all have rallied from earlier in the year lows, none indicate a strong underlying economy. I found this odd. Although the EU is certainly not in the economic fast lane, the underlying data doesn’t support these low valuation levels. Topline Growth is Moderate But Consistent The top chart shows the region grew for the last 10 consecutive quarters with the pace of growth increasing from .6% in 1Q14 to the last 4 readings of between 1.5% and 1.6%. Read more

US Equity and Economic Review: Once Again, We're Approaching Record Highs, Edition

By: HaleStewart

This week’s economic news was mildly positive. On Tuesday, the Census released new home sales, which showed a stunning 16.6% M/M increase. This was the strongest pace since 1992 and the highest level since 2008. It’s difficult to overestimate the importance of this release. Read more

US Bond Market Week in Review: Everyone's A Hawk, Edition

By: HaleStewart

Several Fed Presidents gave presentations this week. All argued the U.S. economy was not only at or near full employment but also that prices were rising and would eventually attain the Fed’s 2% price target. This implied that a rate hike within the next few meetings was a foregone conclusion. Read more

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