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Housing permits portend good news for 2017

By: New_Deal_democrat

This morning's housing report was good news for two reasons. First of all, single family permits (red) made another post recession high: Single family permits tend to peak at the same time as permits overall, but they are less noisy, and they were not affected by the NYC distortion of 18 months ago that caused the big spike. Secondly, permits overall were above 1200 for the 4th month in a row. Read more

XE Market Analysis: Rate Cuts Still on The Table in Canada

By: xemarketanalysis

OVERVIEW Janet Yellen warned the U.S. risks a "nasty surprise" if it waits too long to continue raising interest rates. The Fed's Beige Book reported the U.S. economy continued to expand at a modest pace across most regions through the end of last year. New Zealand consumer confidence edged higher in January. UK finance minister, Philip Hammond, said the UK would be forced to "find ways" to compete if a deal with the EU is not achievable. Australian employment rose in line with expectations last month, though the unemployment rate rose to 5.8%. HIGHLIGHT The Canadian Dollar fell two cents against its U.S. Read more

XE Market Analysis: North America - Jan 19, 2017

By: XE Market Analysis

The dollar rebound, catalysed by yesterday's spicy U.S. inflation data and hawkish guidance from Fed's Yellen, continued into the Asia session before sputtering and stalling. USD-JPY clocked a six-day peak at 114.89 before retreating and settling to the mid 114s. Read more

XE Market Analysis: Europe - Jan 19, 2017

By: XE Market Analysis

The dollar has rallied across-the-board after Fed's Yellen extended the rate hike timeline into 2019, warning that being behind the curve risked a "nasty surprise." This followed a round of firm U.S. y/y CPI data, while the Fed's Beige Book survey of anecdotal activity also pointed out increasing signs of labour market tightness. Read more

XE Market Analysis: Asia - Jan 18, 2017

By: XE Market Analysis

The dollar traded with little direction with London out of the picture. The buck settled with a net 0.2% gain versus the euro, a 0.6% advance against the yen and a 0.7% rise on the pound, which is the day's underachieved out of the currencies we follow. Read more

Inflation for 2016 ends above Fed target

By: New_Deal_democrat

One of my big themes for what is likely to happen this year is that the rate of inflation increases to over 2% and stays there, leading the Fed to chase it by aggressively raise rates. This in turn is likely to cause a slowdown in the growth of consumer spending. Read more

XE Market Analysis: Surprise UK Wage Inflation

By: xemarketanalysis

OVERVIEW UK wage inflation surges by 2.8% year-over-year in November, previously from 2.6%. There are mixed reactions in Europe due to May's Brexit speech yesterday. Consumer price inflation in the United States rose by 2.1%, its largest increase in 2.5 years, justifying the recent 25 bps hike by the FOMC. New home prices rise by 12.4% year-over-year in China. HIGHLIGHT The Pound is consolidating at these higher levels since Prime Minister May's Brexit plan conference. Read more

XE Market Analysis: North America - Jan 18, 2017

By: XE Market Analysis

The dollar recouped some of ground lost yesterday with market participants eyeing the upcoming release of U.S. CPI data, which we expect to spike to 2.1% y/y in December from 1.7% y/y, and which would arm Fed policymakers with fresh ammo for hawkish guidance. Read more

XE Market Analysis: Europe - Jan 18, 2017

By: XE Market Analysis

The dollar recouped some of yesterday's lost ground, seen after Trump complained that the greenback was "too strong" in a WSJ interview. USD-JPY has returned to the low 113s after logging a six-week low at 112.57 yesterday. EUR-USD has ebbed back to around 1.0680 after clocking a six-week peak at 1.0719 yesterday. Read more


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