Tag Archive: Eurozone Manufacturing PMI

The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.

FX Daily, October 24: Dollar Treads Water as 10-year Yield Knocks on 2.40percent

2017-10-24

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2017-10-24

The US dollar is narrowly mixed in mostly uneventful turnover in the foreign exchange market. There is a palpable sense of anticipation. Anticipation for the ECB meeting on Thursday, which is expected to see a six or nine-month extension of asset purchases at a pace half of the current 60 bln a month. Anticipation of the new Fed Chair, which President Trump says will be announced: "very, very soon."

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FX Daily, October 02: Dollar Upbeat to Start Fourth Quarter

2017-10-02

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2017-10-02

The US dollar is broadly higher as the quarter-end positioning losses seen at the end of last week area reversed. Developments in the US are seen as dollar positive, while the Catalonia-Madrid conflict, and slightly softer EMU manufacturing PMI weighs on the euro. The UK also reported a disappointing manufacturing PMI, and more differences with the Tory government are taking a toll on sterling. Japan's Tankan Survey was stronger than expected, but...

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FX Daily, September 22: Markets Limp into the Weekend

2017-09-22

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2017-09-22

The cycle of sanctions, recriminations, and provocative actives continues as the Trump Administration leads a confrontation with North Korea. The US announced yesterday new round of sanctions on North Korea. Reuters reported that the PBOC has instructed its banks not to take on new North Korean clients and to begin unwinding existing relationships.

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

2017-09-01

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2017-09-01

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 23: Consolidation in Capital Markets Conceals Coming Turbulence

2017-08-23

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2017-08-23

A mixed US dollar will greet the North American participants today. It is softer against the euro and yen, but firmer against the dollar-bloc currencies. Among the emerging market currencies, the eastern and central European currencies are moving higher in the euro's draft.

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

2017-08-01

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2017-08-01

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 24: Euro Recovers from Softer Flash PMI

2017-07-24

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2017-07-24

The euro made a marginal new high in early Asia, but participants rightly drew cautious ahead of the flash eurozone PMI. The flash PMI was softer than expected, and although the composite fell to six monthly lows, it is more a reflection of how steady it has been at elevated levels.

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FX Daily, July 03: Dollar Bounces to Start H2

2017-07-03

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2017-07-03

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

2017-06-01

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2017-06-01

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, May 23: Greenback Remains Soft

2017-05-23

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2017-05-23

The US dollar cannot get out of its own way, it seems. With a light economic schedule, there is little to offset the continued drumbeat of troubling political developments. The latest turn, as reported first in the Washington Post, that President Trump asked heads of intelligence groups to also publicly deny collusion with Russia.

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FX Daily, May 02: Dollar and Yen Heavy, Equities Trade Higher and Bonds Lower

2017-05-02

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2017-05-02

The US dollar is sporting a softer profile against most of the major and emerging market currencies. The Japanese yen is the main exception. The greenback is rising against the yen for the fourth session and the sixth of the past seven. The dollar's gains against the yen coincide with the 10-12 bp recovery in the US 10-year yields over the past ten sessions.

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FX Daily, March 24: Dollar Trying to Stabilize Ahead of the Weekend

2017-03-24

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2017-03-24

The US dollar has been stabilizing over the past couple of sessions. This broad stability of the dollar is impressive because of the questions of the prospects of US President Trump's economic agenda. Expectations for tax reform and infrastructure spending have bolstered investor confidence and helped boost equity prices despite what appears to be stretched valuation.

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FX Daily, March 01: Greenback Bounces, More Fed than Trump

2017-03-01

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2017-03-01

FX Performance, March 01 2017 Movers and Shakers
The much-anticipated speech by US President Trump was light on the details that investors interested in, like the tax reform, infrastructure initiative, and deregulation. There appears to be an agreement to repeal the national healthcare, but there is no consensus on its replacement.

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FX Daily, February 21: Dollar Bounces Back

2017-02-21

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2017-02-21

FX Performance February 21 2017 Movers and Shakers
Some profit-taking in the middle of last week pushed the dollar lower and gave rise in some quarters that the run was over. However, the greenback has come back the bid. It is gaining against all the major currencies today and most of the emerging market currencies.

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FX Daily, 01 February: Markets Stabilize, Investors Await Signals from US data and FOMC, and POTUS

2017-02-01

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2017-02-01

(commentary will be sporadic for the next couple of weeks during a European business trip) The US dollar is consolidating yesterday's losses that were spurred speculation that the US was abandoning the more than 20-year old strong dollar policy. The meaning of that policy was clear to global investors even if it was often parodied.

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FX Daily, January 24: UK Supreme Court Requires May to Submit Bill on Brexit to Parliament

2017-01-24

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2017-01-24

BritainFirst
As widely expected, the UK Supreme Court ruled that Parliament approval is needed to trigger Article 50 start the divorce proceedings with the EU. The Court decided by an 8-3 majority that a bill needs to be submitted to both chambers, but that the approval of the regional assemblies (e.g. Scotland, Northern Ireland) is not necessary.

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FX Daily, January 03: Dollar-Bloc and Sterling Advance, while Euro and Yen Slip

2017-01-03

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2017-01-03

FX Performance, January 03 2017 Movers and Shakers
The US dollar is mixed. After a soft start in Asia, where Tokyo markets were closed, the dollar recovered smartly against the euro and yen. The dollar-bloc and sterling are firmer. Sterling's earlier losses were recouped following news that the manufacturing PMI jumped to 56.1, its highest since June 2014.

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FX Daily, December 15: Greenback Extends Gains on Back of Fed

2016-12-15

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2016-12-15

FX Performance, December 15 2016 Movers and Shakers
Sterling has made steady gains against the CHF over the past month and although the spike has levelled this week, the Pound has certainly gained a foothold. Yesterday’s decision by the US Federal Reserve to raise their base rate from 0.25% to 0.5% did little to shift the value of GBP/CHF but with investors still digesting the outcome, we may yet find it still has an effect.

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