Tag Archive: U.S. Gross Domestic Product QoQ

FX Daily, February 27: The Rot Continues but Somewhat Less Dollar Friendly

A new phase of the Covid-19 is at hand. Yesterday was the first time that the number of new cases in the world surpassed the number of new cases China acknowledged. This confirms what we have known, namely that the battle for containing it in China has been lost.

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FX Daily, September 26: Greenback Remains Firm

Overview: A compelling narrative for yesterday's disparate price action is lacking. A flight to safety, which is a leading interpretation, does not explain the weakness in the yen, gold, or US Treasuries. Month- and quarter-end portfolio and hedge adjustments may be at work, but the risk is that it is a black box: is difficult to verify and lends itself to misuse as a catch-all explanation.  Nevertheless, the rise in US equities yesterday helped...

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FX Daily, April 26: Greenback Consolidates Ahead of Q1 GDP

Overview:  The equities are finishing softly after the rally stalled in the middle of the week.  The large markets in Asia fell, led by China, and the MSCI Asia Pacific Index fell for a third session, the longest losing streak in two months.  Europe's Dow Jones Stoxx 600 ended an eight-day advance with a two-day loss coming into today where it is a little softer. 

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

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, June 29: Run on Dollar and Yen Continues

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, May 26: Anxiety Levels Rise Ahead of Weekend

The markets are unsettled. It is not so much in the magnitude of moves as the breadth of the move. The nearly 1% rally in gold is a tell, but also the inability of equity market to follow the lead of the US markets, where the S&P 500 and NASDAQ set new records. US yields are softer, and the yen is the strongest of the major currencies, up 0.7% against the greenback.

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FX Daily, April 28: Markets Limp into Month End

Equity markets are stalling into the end of the month. MSCI Asia-Pacific Index is snapping a six-day advance, and the week's gain was sufficient to extend the advancing streak for the fourth consecutive month. The Dow Jones Stoxx 600 is trading off for the second consecutive session, after rallying for six consecutive sessions.

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FX Daily, January 27: Week Ending on Mixed Note as Year of Rooster Begins

The Lunar New Year celebration thinned participation in Asia, where several centers are closed. Although the MSCI Asia Pacific Index slipped slightly, it rose 1.5% on the week, the fourth weekly gain in the past five weeks. The Nikkei advanced 0.35%, the third rise in a row. The 1.75% gain for the week snaps a two-week decline.

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US GDP Misses, but Final Domestic Sales Accelerate

Net exports was a large drag on growth. Inventories flattered growth. Underlying signal, final domestic demand, increased 2.5% after 2.1% in Q3.

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FX Daily, December 22: Mixed Dollar amid Light News as Investors Move to Sidelines

GBP/CHF rates have dipped over the past week, as the markets start to slowdown ahead of the Christmas period. Market trends become harder to predict at this time of year, due to the fact there is less capital injected by investors. Less liquidity ultimately equals less stability and the Pound may be suffering due to investors pulling their funds away from it and into safer haven currencies such as the CHF.

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

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

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, September 29: Dollar Quietly Bid, while Market is Skeptical of OPEC Deal

The US dollar has firmer against most major and emerging market currencies. It remains well within its well-worn ranges, which continue to be narrow. A notable exception today is the yen's weakness. While the majors are mostly off marginally and now more than 0.3%, the yen is 0.75% lower. That puts the greenback at a six-day high (~JPY101.75) at its best.

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FX Daily, August 26: And now for Yellen…

Yellen's presentation at Jackson Hole today is the highlight of the week. It also marks the end of the summer for many North American and European investors. It may be a bit of a rolling start for US participants, until after Labor Day. However, with US employment data next Friday, many will return in spirit if not in body.

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