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Weekly Indicators: almost no negatives edition

By: New_Deal_democrat

February data included a decrease in existing home sales, but an increase in the more economically important new home sales. Durable goods orders increased, although "core" durable goods decreased slightly. 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 - Mar 24, 2017

By: XE Market Analysis

FX Trade was nervous in N.Y. on Friday, though ranges overall were relatively narrow, and the dollar mixed. Uncertainty over the outcome of the House healthcare bill was behind the market chop, with wrangling going on between House leadership and the White House through most of the session. Read more

XE Market Analysis: Eurozone Business Growth Fastest in 6 Years

By: xemarketanalysis

OVERVIEW BoE policymaker Vlieghe's comments dampen rate increase prospects causing Pound to give back gains. The US Dollar is steady as we wait for another vote on the new healthcare legislation later today. Euro strengthens on Purchasing Managers survey report of buoyancy in the service and manufacturing sectors. The Japanese Yen had its strongest run since 2010 against the US Dollar as investors seek the safe haven currency. HIGHLIGHT The European economy continues to show further evidence of recovery with the Purchasing Manager's Index reporting Eurozone businesses growing at their fastest pace in nearly 6 years. US DOLLAR The US Dollar remains stable across the board while we wait for another vote on healthcare where President Trump suggested a 'take it or leave it' deal. Read more

Positive trends in most housing sales indicators continue

By: New_Deal_democrat

With the exception of existing home sales, the least important metric, the housing market continues to show surprising strength in the face of rising interest rates. Last week housing permits and starts were reported. Permits fell, while the more volatile starts rose: Neither set a post-recession record, although the three month moving average of starts, which takes away most of the volatility, did make another post-recession high. Yesterday morning new single family home sales were reported. Read more

XE Market Analysis: North America - Mar 24, 2017

By: XE Market Analysis

The dollar lost ground to an outperforming euro following forecast-beating PMI data out of the Eurozone, ebbed back to near net unchanged levels versus the yen after clocking a two-day high during the Tokyo session, and held generally tight ranges versus most other currencies. Read more

XE Market Analysis: Europe - Mar 24, 2017

By: XE Market Analysis

The dollar has traded firmer along with Wall Street, recovering some of ground lost midweek. USD-JPY logged a two-session high at 111.48 and EUR-USD a two-session low at 1.0760. The USD index is up 0.4% from the seven-week low it logged on Wednesday. Markets are giving the benefit of the doubt to Trump's ultimatum on the ACA bill, the vote of which has been delayed to later on Friday from yesterday. Read more

XE Market Analysis: Asia - Mar 23, 2017

By: XE Market Analysis

The dollar was fairly stable in N.Y. trade on Thursday, as the market largely hunkered down into the key U.S. House healthcare vote. USD-JPY was the most reactive to the vote news flow, rallying to session highs of 111.25 on reports the vote would be delayed so a deal could be made, then pulling back when news of a deal was not forthcoming. Read more

XE Market Analysis: UK Retail Sales Boom

By: xemarketanalysis

OVERVIEW Sterling stronger today following better than expected retail sales. The Bank of Japan's minutes stated that the country's economic recovery is continuing at a moderate pace. Eurozone current account surplus fell to its lowest level in 15 months. New Zealand leaves rates on hold at 1.75%. HIGHLIGHT Retail sales in the UK surged in February by 1.4% bringing the annual rise in volumes to a robust 3.7%, year-over-year. US DOLLAR The US Dollar is sidelined at the moment as markets wait for Congress to vote on the American Health Care Act. Read more

XE Market Analysis: North America - Mar 23, 2017

By: XE Market Analysis

The dollar has found a toehold but still retains a heavy tone into the key vote on healthcare in the U.S. House later today. USD-JPY has recouped above 111.00 after logging a four-month low at 110.73 yesterday, though met decent sellers above 111.50 during the Tokyo session, and had again dipped back under here as of the late London AM. Read more

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