Tag Archive: Eurozone Consumer Confidence

Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. The reading is compiled from a survey of about 2,300 consumers in the euro zone which asks respondents to evaluate future economic prospects. Higher readings point to higher consumer optimism.

FX Daily, September 28: Greenback Consolidates while Yields Continue to March Higher

2017-09-28

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2017-09-28

The US dollar is consolidating inside yesterday's ranges against the euro and yen while extending its gains against sterling and the dollar-bloc currencies. The sell-off in the US debt market continues to drag global yields higher. The 10-year Treasury yield reached 2.01% on September 8 and now, nearly three weeks later, is near 2.35%. It had finished last week at 2.25%.

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FX Daily, September 21: Market Digests Fed, Greenback Consolidates, Antipodeans Tumble

2017-09-21

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2017-09-21

The market has mostly interpreted the Fed's action in line with our thinking. Despite the lowering of the long-run Fed funds rate, the shifting one of the three hikes from 2019 into 2020, and recognizing that the weaker price impulses are somewhat mysterious, the Fed clearly signaled its bias toward hiking rates one more time this year and three next year.

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FX Daily, July 28: Dollar and Equities Closing Week on Heavy Note

2017-07-28

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2017-07-28

The US dollar is mostly lower, though one of the features of recent days has been the dramatic slide of the Swiss franc, and that is continuing today. The franc is off another 0.5% today, to bring its weekly loss to a sharp 2.5%. The euro finished last week near CHF1.1030 and is now near CHF1.1370; its highest level since the cap was lifted in mid-January 2015.

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FX Daily, June 29: Run on Dollar and Yen Continues

2017-06-29

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2017-06-29

The main driver of the foreign exchange market is the continued reassessment of the trajectory of monetary policy in the UK, EMU, and Canada. The OIS market does not show that higher rates are discounted for the next policy meeting (August, September, and July respectively), but rather there is greater confidence that, outside of Japan, peak monetary stimulus is behind us.

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FX Daily, June 22: Greenback Goes Nowhere Quickly, While Yen Remains Bid

2017-06-22

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2017-06-22

The summer doldrums begin early. The US dollar is little changed against most of the major currencies. Bond yields are mostly one-two basis points lower, and equity markets are mixed but with a downside bias. Oil prices slump more than 2% on Tuesday and again on Wednesday. This is weighing on bond yields and equities.

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FX Daily, May 30: Mixed Dollar as Market Awaits Preliminary EMU CPI and US Jobs

2017-05-30

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2017-05-30

With the backdrop of US interest rates unable to get much traction, despite the strong probability of another Fed rate hike in a couple of weeks, the third since last November election, the US dollar mixed today. The chief story today, though, is not the greenback but the euro. The euro is trading heavily for the fourth session.

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FX Daily, April 27: Several Developments ahead of the ECB meeting

2017-04-27

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2017-04-27

The ECB meeting and the press conference that follows it is the main event. However, it has had to compete with the Bank of Japan and Riksbank meetings, as well as the further reflection of the tax reform proposals by the Trump Administration yesterday.

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FX Daily, April 20: Dollar and Yen Push Lower

2017-04-20

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2017-04-20

With the exception of the yen, the US dollar is lower against all the major currencies. US Treasury yields are firm, extending yesterday's rise a little. This may help keep the dollar straddling JPY109, but unwinding long yen cross positions is helping underpin the other major currencies. The Dollar Index is making a new low for the week and appears poised to test support around 98.85-99..00.

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FX Daily, March 30: Euro breaks down against CHF and USD

2017-03-30

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2017-03-30

The EUR/CHF broke down under 1.07. The euro lost against both dollar and franc.

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FX Daily, March 23: Some Thoughts about the Recent Price Action

2017-03-23

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2017-03-23

The gains the US dollar scored last month have been largely unwound against the major currencies. The dollar's losses against the yen are a bit greater, and it returned to levels not seen late last November. The down draft in the dollar appears part of a larger development in the capital markets that has also seen the US 10-year yield slide 25 bp in less than two weeks. The two-year yield is off 17 bp.

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FX Daily, January 30: EUR/CHF falls further to 1.650

2017-01-30

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2017-01-30

FX Performance, January 30 2017 Movers and Shakers
The EUR/CHF collapsed once again to 1.0650. This rate broke the 1.0680 - 1.0700 that constituted the previous intervention area. Reasons can be found in the weak U.S. GDP weak, in Trump's foreign trade policy and in the strong Swiss trade balance.

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FX Daily, January 23: Dollar’s Pre-Weekend Retreat Extended in Asia Before Stabilizing in Europe

2017-01-23

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2017-01-23

FX Performance, January 23 2017 Movers and Shakers
The US dollar had a poor close in the North American session before the weekend as investors appear increasing anxious about the new US Administration's economic policies and priorities.With no fresh details emerging over the weekend, some stale dollar longs exited. The dollar stabilized in the European morning, but broader risk appetites were not rekindled, and the Dow Jones Stoxx 600, led by financials, was sold to its lowest level this month.

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FX Daily, November 29: Dollar Comes Back Mostly Firmer, but Focus is Elsewhere

2016-11-29

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2016-11-29

FX Performance, November 29 2016 Movers and Shakers
The US dollar correctly lowered yesterday, but most of the selling was over by the end of the Asian session, and the greenback steadied in Europe and North America. The dollar is firm against the euro and yen but within yesterday's broad trading ranges. The Australian and Canadian dollar's gains from yesterday are being pared.

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FX Daily, October 28: Dollar Sidelined, Krona Stabilizes, Rates Firm

2016-10-28

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2016-10-28

FX Performance, October 28
The main development here in the last full week of October is the sharp rise in bond yields. US 10-year yields rose nine bp this week coming into today's session, which features the first look at Q3 GDP. The two-year yield is up four bp. European 10-year benchmark yields mostly rose 11-17 bp. UK Gilts were are the upper end of that range. Two-year yields are 3-5 bp higher.

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FX Daily, October 21: Greenback Ending Week on Firm Note

2016-10-21

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2016-10-21

FX Performance, October 21 2016 Movers and Shakers
The US dollar is firm especially against the European complex and emerging market currencies. The yen continues to be resilient, and exporters are thought be capping the dollar above JPY104. The dollar is lower against the yen for the fourth consecutive session and set to snap a three-week advancing streak.

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