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Weekly Indicators: manufacturing growth decelerates, mortgage applications accelerate addition

By: New_Deal_democrat

March data was all positive, including the Index of Leading Indicators, buoyed particularly by the interest rate spread and ISM new orders, and also included building permits and starts, retail sales, industrial production and capacity utilization. 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 - Apr 20, 2018

By: XE Market Analysis

The DXY posted two-week highs in N.Y. on Friday, taking its cue from firmer Treasury yields. EUR-USD fell to 1.2250 lows, down more than 100 points from overnight highs. USD-JPY topped at 107.86, a two-month top. USD-CAD printed two-week highs of 1.2749 following cooler Canada CPI and retail sales. Read more

XE Market Analysis: North America - Apr 20, 2018

By: XE Market Analysis

The dollar is finishing the week on a firmer footing, posting gains versus the euro and yen, and being aided higher against the pound after BoE Governor Carney walked back hawkish guidance. EUR-USD dropped through recent range lows at 1.2299-1.2307 on route to posting an 11-day low at 1.2293. Read more

XE Market Analysis: Europe - Apr 20, 2018

By: XE Market Analysis

The dollar has been trading firmer so far today, while weakness in the yen and sterling have remained themes. The dollar bloc currencies have also seen particular weakness, concomitantly with corrections in commodity prices and global stock markets. EUR-USD, meanwhile, has flat-lined in the mid 1.2300s, remaining comfortably off the three-week high posted on Tuesday at 1.2414 and comfortably above the week's low at 1.2324. Read more

XE Market Analysis: Asia - Apr 19, 2018

By: XE Market Analysis

The dollar bounced in N.Y. trade on Thursday, taking the DXY to 89.91, a one-week high, and through its 20- and 50-day moving averages of 89.80, and 89.83, respectively. In-line jobless claims and leading indicators, along with a better Philly Fed outcome had little impact, though a late day cable sell-off following dovish Carney comments resulted in the biggest move of the day. Read more

XE Market Analysis: Mexican Peso Falls on Political Jitters

By: xemarketanalysis

OVERVIEW FX market generally quiet with little economic data released. GBP falls after weak retail sales but recovers on M&A announcement. USD flat, Fed's economic survey suggests economy still growing "moderately". HIGHLIGHT The Mexican Peso is down over one percentage point versus the US Dollar, with investors unnerved by the strong performance in the latest opinion polls by Mexican leftist Andres Manuel Lopez Obrador. Read more

Do interest rates still matter for housing?

By: New_Deal_democrat

For the last five years, my housing posts have followed a mantra: interest rates lead sales sales lead price price leads inventory And there is data going back to the 1950s in some cases to back up that relationship. Now, that doesn't necessarily mean that causation couldn't run in the reverse direction, for example: low inventory causes prices to rise But the leading/lagging relationship should be intact, as in: high prices (eventually) cause sales to decline after which, prices go down But in the past five years, mortgage rates have had (some, but) little effect on sales. Read more

XE Market Analysis: North America - Apr 19, 2018

By: XE Market Analysis

The dollar has been trading near steady on net, while moderate yen weakness was a theme during the Tokyo session. The pound also came under some pressure following a miss in UK retail sales, and the Australian dollar lifted concomitantly with commodity prices out of post-Australian jobs data lows, subsequently posting a fresh trend high. Read more

XE Market Analysis: Europe - Apr 19, 2018

By: XE Market Analysis

The dollar has been trading near net steady so far today, while yen weakness remained a theme. EUR-USD has settled in the upper 1.2300s, holding below the three-week high seen earlier in the week at 1.2414. USD-JPY edged out a three-session high at 107.51, EUR-JPY a two-month high, just above 133.00, while AUD-JPY managed a to post a four-session peak. Read more


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