Tag Archive: China Caixin Manufacturing PMI

FX Daily, November 03: Dollar Firms Ahead of What is Expected to Be Strong US Jobs Data

The US dollar is firm but is not going anywhere quickly. The lack of fresh interest rate support and uncertainty over the US tax proposals, which the Brady, the Chair of the House Ways and Means Committee hopes to have a revised version out after the weekend so the committee work can begin on Monday.

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FX Daily, November 01: Super 48 Hours

This is it: The next 48 hours will be among the busiest of the year. The Bank of England meets tomorrow, and it not only gives a verdict on interest rates but also provides an update of its economic projections (Quarterly Inflation Report). And, among the innovations, the MPC minutes will be released. Ahead of the Federal Reserve meeting, the market will have the ADP private-sector job estimate.

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FX Daily, September 01: Manufacturing PMIs, US Jobs, and Implications of Harvey

As the markets head into the weekend, global equities are firmer, benchmark 10-year yields are mostly lower, and the dollar is consolidating after North American pared the greenback's gains yesterday. Manufacturing PMIs from China, EMU, and the UK have been reported, while in the US, the August jobs data stand in the way of the long holiday weekend for Americans.

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FX Daily, August 01: The Most the Dollar Can Hope for on Turn Around Tuesday is Consolidation

After taking a step lower in the North American session yesterday, the dollar is consolidating today. The euro is holding above $1.18, and the dollar held JPY110.00. Global equities are mostly higher, while bonds are mixed. Asia-Pacific yields were mostly higher, while European rates are a little lower. The US 10-year yield is flat just below 2.30%.

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FX Daily, July 05: Dollar Firm as Investors Await Fresh Directional Cues

The US dollar is enjoying a firm tone today. Yesterday's two weakest major currencies, the Australian dollar and Swedish krona are the strongest currencies, but little changed on the session. After a strong rebound in the greenback to start the week, it mostly consolidated yesterday.

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FX Daily, July 03: Dollar Bounces to Start H2

The beleaguered US dollar is enjoying a respite from the selling pressure that pushed it lower against all the major currencies in the first six months of 2017. A measure of the dollar on a trade-weighted basis fell about 5% in the first half after appreciating nearly 8% in Q4 16.

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Pay No Attention To 50

China’s PMI’s were uniformly disappointing with respect to what Moody’s was on about last week. Chinese authorities expended great effort and resources to get the economy moving forward again after several years of “dollar”-driven deceleration. here was a massive “stimulus” spending program where State-owned FAI expenditures of about 2% of GDP were elicited to make up for Private FAI that at one point last year was actually contracting.

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FX Daily, June 01: Greenback Steadies at Lower Levels, Sterling Struggles

The US dollar is mostly firmer against the major currencies. It is consolidating yesterday's losses more than staging much of a recovery. Even sterling, where a YouGov poll has the Tory lead at three percentage points, down from seven previously, is above yesterday's lows. On the other hand, even strong data from Japan did not drive the yen higher.

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FX Daily, February 03: US Jobs Trump Europe’s Service PMIs

Ahead of the weekend, there are two series of economic reports. The first are Europe's service PMI reports and the second is the US employment report. Neither report is likely to alter views significantly, but the latter has greater potential to move the market.

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FX Daily, January 05: Dollar Slide but Resilience Demonstrated while Yuan Squeezed Higher

There are two main developments. First, the high degree of uncertainty expressed in the FOMC minutes and the repeated references to the strong dollar spurred a wave of dollar selling. The dollar retreated in Asia, but European participants saw the pullback as a new buying opportunity.

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FX Daily, November 01: Dollar and Yen Slip in Quiet even if Eventful Turnover

The US dollar is posting minor losses against most of the major currencies today.The Japanese yen is the exception, as the greenback continues to straddle JPY105. There have been several developments today, and the US also has a full economic calendar today. The most important of the developments was the upbeat message from the Reserve Bank of Australia.

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FX Daily, September 30: SNB Intervenes to Polish Q3 Results

True to its recent habit, the US dollar is finishing the week on a firm note. On the month, though, the greenback has fallen against most of the majors, but sterling, the Canadian dollar, and the Swedish krona. Global equities are trading heavily, and investors' angst is lending support to bond markets.

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FX Daily, September 01: A Couple of Surprises to Start the New Month

The new month has begun with a couple of surprises. The biggest surprise has been the record jump in the UK manufacturing PMI to 53.3 from 48.3. A much smaller rebound was expected in August after the Brexit shock drop in July.

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