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Tag Archive: $EUR

FX Daily, June 23: Dollar Pares Gains Ahead of the Weekend

2017-06-23

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2017-06-23

The US dollar is trading lower against all the major currencies today, which pares its earlier gains. The greenback is holding on to small gains for the week against most of them, except the New Zealand dollar, Swiss franc and Norwegian krone.

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Great Graphic: Fed, ECB, and BOJ Balance Sheets

2017-06-23

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2017-06-23

This Great Graphic composed on Bloomberg shows the balance sheets of the Federal Reserve, the European Central Bank, and the Bank of Japan as a proportion of GDP.

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FX Daily, June 21: Heavy Oil Weighs on Yields and Lifts Yen

2017-06-21

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2017-06-21

The US dollar is narrowly mixed against the major currencies. The drop in oil prices (3.3% this week) is seen as one of the factors that may be underpinning the appetite for fixed income, and this, in turn, is lifting the yen. The greenback had approached JPY112 yesterday, but with the drop in oil prices and yields has seen it retreat toward JPY111.00.

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FX Daily, June 19: Dollar Mixed while Equities Recover to Start Eventful Week

2017-06-19

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2017-06-19

The US dollar is mixed against the major currencies, and while it is firmer against the euro and yen, it is within last week's ranges. The success of Macron's new party in France, and the majority is secured, was well anticipated by investors and is having little effect on today's activity in the capital markets.

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FX Weekly Preview: Events Not Data Key in Week Ahead

2017-06-19

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2017-06-19

Light economic data calendar, but look for downtick in eurozone flash PMI. Soft Canadian retail sales (volume) and softer CPI (base effect) could take some of the sting from the recent BoC official comments. MSCI decision on China, Argentina, Saudi Arabia, and South Korea may have the broadest and long-lasting impact of the five key events we highlight.

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FX Daily, June 16: Dollar Slips In Consolidation, but Extends Recovery Against the Yen

2017-06-16

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2017-06-16

As the market heads into the weekend, the US dollar is trading softer as it consolidates. It is within yesterday's ranges against the major currencies but the Japanese yen. The dollar has made a dramatic recovery against the yen. It traded near JPY108.80 in the middle of the week and pushed through JPY111 in late in the Tokyo morning. The greenback is above its 20-day moving average against the yen for the first time in a month.

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FX Daily, June 15: Dollar Trades Higher in Wake of the FOMC

2017-06-15

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2017-06-15

The US dollar gains scored yesterday in response to what appeared to be a more hawkish FOMC than expected have been extended today. The euro and the Swiss franc have recorded new lows for the month.

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FX Daily, June 13: Dollar Softens Ahead of Start of FOMC Meeting

2017-06-13

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2017-06-13

The US dollar is trading with a heavier bias against all the major currencies save the Japanese yen. The Scandis and Canadian dollar are leading the move. Sweden reported a 0.1% rise in the headline and underlying inflation while the median expected a decline of the same magnitude. The year-over-year pace slowed but not as much as expected.

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FX Daily, June 12: Ahead of Central Bank Meetings, Politics Dominates

2017-06-12

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2017-06-12

The US dollar is trading within its pre-weekend range against the major currencies as participants await the central bank meeting starting in the middle of the week. The Federal Reserve, Bank of England, and the Bank of Japan meet.

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FX Weekly Preview: Politics and Economics in the Week Ahead

2017-06-12

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2017-06-12

FOMC, BoE, and BOJ meet next week; only the Fed is expected to change policy. High frequency data may be less important than the central bank meetings and politics in the week ahead. UK political situation is far from resolved, and US drama continues, while several hot spots in the EMU are emerging.

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Great Graphic: Another Look at US-German Rate Differentials

2017-06-09

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2017-06-09

Euro-Dollar Exchange Rate, May 2017
This Great Graphic, created on Bloomberg, depicts the interest rate differential between the US and Germany. The euro-dollar exchange rate often seems sensitive to the rate differential. The white line is the two-year differential and the yellow line is the 10-year differential.

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FX Daily, June 07: Markets Mark Time Ahead of Tomorrow

2017-06-07

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2017-06-07

Tomorrow may be the most important day of the quarter for investors. The ECB meets. The UK goes to the polls. Former FBI Comey testifies. Ahead of these significant events, the global capital markets are mostly quiet, with some pockets of activity.

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FX Daily, June 06: Yen Propelled Higher

2017-06-06

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2017-06-06

The week was supposed to be dominated by the UK election and the ECB meeting, but the yen is stealing the show in the first part of the week. The US dollar has been sold through JPY110 for the first time since late April. The euro has fallen from JPY125.30 before the weekend to JPY123.25 today.

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Euro Shrugs off European Banking Woes

2017-06-06

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2017-06-06

Spain's Banco Popular is scrambling ahead of its meeting with the ECB tomorrow; shares are around 50% in three sessions. Italy has two banks that may see the same deal Monte Paschi negotiated with the EU. Portugal banks are still putting loan loss reserves and provisions aside.

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FX Daily, June 05: US Dollar Starts Important Week Mostly Stable to Higher

2017-06-05

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2017-06-05

The US dollar is beginning what promises to be an important week on a steady to firmer note against most of the major currencies. It is a holiday in parts of Europe (e.g.,m Germany and Switzerland). Although excitement is not until Thursday's ECB meeting, UK election, and the testimony of former US FBI Director Comey, there are several developments today to note.

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FX Weekly Preview: ECB Meeting and UK Election Key Drivers in Week Ahead

2017-06-05

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2017-06-05

ECB may take a baby step toward the exit of extraordinary monetary policy by confirming rates are unlikely to be cut further and the risks are roughly balanced. UK election is coming down to the wire. In the US, former FBI director Comey is set to testify, and leaks of two Fed appointments overshadow mostly second-tier economic data.

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Great Graphic: US Rate Curve and the Euro

2017-06-03

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2017-06-03

This Great Graphic was created on Bloomberg. It shows two times series. The yellow line and the left-hand scale show the euro's exchange rate against the dollar for the past year. The white line depicts the spread between the US two-year and 10-year yield.

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Drop in the US Unemployment Rate Not Sufficient to Mask Disappointing Report

2017-06-02

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2017-06-02

Poor jobs growth won't challenge June hike expectations but September and balance sheet. Little positive in today's report. Drop in unemployment explained by drop in participation rate. Trade deficit was larger than expected, which may point to slower Q2 growth.

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FX Daily, June 02: Dollar Marks Time Ahead of US Jobs Report

2017-06-02

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2017-06-02

The foreign exchange market is becalmed, leaving the US dollar narrowly mixed. The euro has been confined to less than a 20-pip range through the Asian session and most of the European morning. The news stream is light. The US withdrawal from the Paris Accord may have garnered the headlines, but as a market force, it is difficult to detect the immediate impact.

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