Tag Archive: U.S. Initial Jobless Claims

FX Daily, February 09: Dollar Bounce in Asia is Sold in the European Morning

The US dollar is firmer against most of the major currencies in fairly quiet Asian turnover, but is seeing those gains pared in early Europe. The highlights include the RBNZ meeting that left rates on hold, as widely expected. The concern about the strength of the Kiwi saw the market reduce the perceived likelihood of a rate hike. NZD came off.

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FX Daily, January 26: EUR/CHF collapses to 1.670

The US dollar is mostly firmer against the major currencies but is confined to narrow ranges, and well-worn ranges at that, but the focus has shifted to the strong advance in equities. Yesterday, the Dow Jones Industrials finally rose through the psychologically-important 20k level, and the S&P 500 gapped higher to new record levels.

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FX Daily, January 19: Dollar Gives Back Most of Yellen-Inspired Gains

While the US 10-year yield is unchanged, the dollar is consolidating its gains against the yen in a relatively narrow range of about half a big figure below JPY115.00. It has seen its gains pared more against the euro and sterling, where most of Yellen-inspired gains have been unwound. Sterling found support near $1.2250 and was bid up to $1.2335 by early in the European sessions.

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FX Daily, January 12: Dollar and Yields Ease Further, but Look for Recovery

After a choppy North American session yesterday, the dollar and US yields remain under pressure. The dollar is lower against all the major currencies and most emerging market currencies, including the recently shellacked Turkish lira and Mexican peso.

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FX Daily, January 06: Dollar Consolidates Losses, Peso Firms while Yuan Reverses

I am reading a lot about the pound in 2017 which is likely to be as volatile as in 2016. But the Franc is a harder beast to predict. Loosely tracking the euro but subject to its own rules and trends GBPCHF could be an interesting pair to watch in 2017. There are numerous global events which can shape the direction on the Franc and clients looking to exchange pounds into Francs or move Francs back to the UK should be considering the path ahead.

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FX Daily, December 29: Dollar, Equities and Yields Fall

In thin holiday markets, a correction to the trends seen in Q4 has materialized. The US dollar is heavy. Japanese and European equities are lower. Bonds are firmer.

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FX Daily, December 08: Dollar Heavy into ECB

The ECB prolonged its bond purchases, which came unexpected for markets. Consequently the EUR/CHF lost nearly half of its big gains that it registered in the beginning of the week. The ECB expects lower inflation for longer, which makes the life for the SNB harder for longer.

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FX Daily, December 01: Dollar is on the Defensive, though Yields Rise

The US dollar is trading heavily against most of the major currencies, but the general tone appears consolidative in nature. Despite a disappointing UK manufacturing PMI (53.4, a four-month low), sterling is near a three-week high above $1.2600.

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FX Daily, November 23: Dollar Sees Flat Consolidation while the Equity Advance Fizzles in Europe

The US dollar is trading inside yesterday's ranges against the euro and yen. The dollar's tone matches the consolidation in the debt market ahead of today's slew of US data and tomorrow's holiday. Tokyo markets were on holiday.

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FX Daily, November 10: US Dollar, Equities, and Commodities Firmer as Reflation Trade Takes Hold

GBP/CHF rates spiked by almost two cents during Wednesday’s trading, providing those clients holding Sterling with some of the best rates they’ve seen in the past few weeks. This move came following confirmation that Donald Trump had won the race for the White House, news which sent shockwaves through the market. How the outcome will affect the global markets is difficult to analyse at this point but could yesterday’s positive spike indicate better...

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FX Daily, November 03: Political Angst Drives Markets

GBP/CHF rates are trading below 1.20 on the exchange, providing those clients holding CHF with some of the best rates they’ve seen in the past six years. The Pounds woes have been well documented but with a key day of economic data releases ahead, is it all about to change?

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FX Daily, October 27: Rising Yields Continue to be the Main Driver

The euro remains pinned near the seven-month low it recorded two days ago near $1.0850. It approached $1.0950 yesterday and has been confined to about a 15-tick range on either side of $1.0905 today. Against the yen, the dollar remains near the three-month high (~JPY104.85) also seen two days ago. New dollar buying emerged yesterday near JPY104.

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FX Daily, October 13: Dollar Edges Higher, though US Rates Soften

The EUR/CHF remains in the range of 1.0815 to 1.0980. The SNB usually intervenes below 1.0850. I am expecting that speculators are reducing their CHF short positions. More tomorrow.

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FX Daily, October 06: The Dollar is Firm in Quiet Market

The US dollar is advancing against the major and most emerging market currencies. Activity is subdued and ranges are narrow. We share four observations about the price action. First, the euro has been unable to sustain upticks even after Germany reported a jump in industrial orders three-times more than the median estimate (1.0% vs. 0.3%).

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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, September 22: Swiss Franc Strongest Currency Again

Once again the Swiss Franc was the strongest. The EUR/CHF depreciated to 1.0875. As said yesterday, the reasons: the Fed and the strong Swiss trade balance.

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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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FX Daily, August 25: Narrow Ranges Prevail as Breakouts Fail

The US dollar remains mostly within the ranges seen yesterday against the major currencies.The market awaits fresh trading incentives and the end of the summer lull, which is expected next week. The Jackson Hole Fed gathering at which Yellen speaks tomorrow is seen as the highlight of this quiet week.

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FX Daily, August 11: Sterling Struggles to Find a Bid, While RBNZ Can’t Knock Kiwi Down

Once again, EUR/CHF reverses in the middle of the week. A part from technical reasons, the weak French CPI (+0.4% YoY) and Italian CPI (-0.2% YoY) exercised downwards pressure on the euro. The US dollar has found steadier footing today after trading heavily yesterday. There are two main themes. The first is sterling’s heavy tone.

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