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XE Market Analysis: Europe - Feb 28, 2017

By: XE Market Analysis

The dollar has been trading mixed so far today, net steady versus the euro and dollar bloc currencies, down modestly against the yen and up moderately versus the still-underperforming pound. Markets are hunkered down ahead of Trump's State of the Union address today, with investors looking risk appetite was mixed in Asia, with markets waiting for detail on tax, spending and regulation plans. Read more

So Far, Trump's Proposed Budget Is a Zero Sum Game

By: HaleStewart

The following three charts are based on date from the Congressional Budget Office. All three show various metrics of U.S. defense spending. The top chart shows the absolute dollar amount of spending. There were two periods of sharp increases: the 1980s Reagan build-up, when defense spending rose approximately 200%, from $100 billion to $300 billion. Read more

XE Market Analysis: Asia - Feb 27, 2017

By: XE Market Analysis

FX trade was relatively calm in N.Y. on Monday, with the dollar mixed, and inside of relatively narrow bands overall. EUR-USD posted six-session highs of 1.0644 before fading back under the figure, while USD-JPY briefly dipped under 1.1200 before rallying to near 112.60 on firmer yields and prospects for U.S. Read more

XE Market Analysis: Pound Falls on Risk of Scottish Referendum

By: xemarketanalysis

OVERVIEW U.S. durable goods orders rose 1.8% as expected last month. New orders for U.S.-made capital goods however, unexpectedly fell. Eurozone economic sentiment edged up 0.1 points as expected to 108 in February due to increased optimism in the industry and service sectors. Germany's deputy finance minister reiterated the government's opposition to debt relief for Greece despite calls from the IMF. The Confederation of British Industry stated optimistic outlook among business and professional service firms was the highest since November 2015. HIGHLIGHT The Pound is down 0.5% against the Dollar and 0.6% against the Euro following a news article claiming Theresa May is preparing for another independence referendum in Scotland. US DOLLAR The US Dollar is down marginally on the day due to both a slightly weaker order for goods and an unexpected fall in pending home sales. Read more

XE Market Analysis: North America - Feb 27, 2017

By: XE Market Analysis

The dollar has traded steady-to-mixed in early-week trade. Markets are hunkered down into Trump address before Congress tomorrow, which comes with investors wanting more detail on his tax cut intentions and regulatory reforms while harbouring some concerns about the prospects for protectionism. Read more

XE Market Analysis: Europe - Feb 27, 2017

By: XE Market Analysis

The yen has seen a safe haven bid in early-week trade as risk aversion reappeared in Asian markets, despite the Dow clocking another record high on Friday. The strength in the yen itself had the usual secondary impact of exacerbating the bearish mood on the Japanese stock exchange, driving an underperforming a 0.9% Nikkei 225 loss today. Read more

International Economic Week in Review: More Expansion Coming

By: HaleStewart

It’s been a difficult few years for trade deals. First came Brexit, which was a surprising rebuke to the EU, and then came Trump’s election, which was partially based on a rejection of most U.S. trade deals. However, the negative impact of trade deals has been overblown. Read more

US Equity and Economic Review: The Fundamentals Support Current Market Valuations

By: HaleStewart

There are numerous factors that support the stock market: psychology, the overall size of the population, the national and international political environment and domestic policy, just to name a few. But perhaps the economic fundamentals are the most important. Read more

US Bond Market Week in Review: Yes, a Downside Does Exist

By: HaleStewart

Several Fed governors spoke this week. President Harker wouldn’t take rate hikes off the table. President Powell agreed. But doves still exist. Fed President Williams, whose comments were based on recent SF Fed research, argued low rates would be with us for some time. Read more


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