Posts Tagged ‘ pace ’

Cable Rallies in the Aftermath of BOE Minutes

Cable staged a strong short covering relief rally in early London trade in the aftermath the release of the BOE minutes which were far less dovish than the market had feared. The BOE minutes revealed that the MPC had voted 8-1 to keep rates steady, with Andrew Sentence once again dissenting in favor of a [ READ MORE ]

German PPI Shows Pricing Power Returning But Euro Pressured By Concerns Over Greece

German Producer Prices printed a bit hotter than expected coming in 0.5% versus 0.2% forecast, but were still lower than last month’s 0.6% reading. However on a year over year basis factory gate prices rose at their fastest pace in 24 months, boosted by rising energy prices. [ READ MORE ]

Safe Haven Trade Returns

I shouldn’t have been so complacent in declaring the paradigm shift in forex markets, whereby risk aversion had given way to comparative growth and interest rate differentials. While such a shift might have been present – or even dominant – in forex markets over the last couple months, it appears to have once again been [ READ MORE ]

Dollar Rises vs. Euro on Employment & Services PMI

The dollar went up versus the euro today as reports from the US were better than expected. US employers added more jobs than experts predicted and services industry in the US expanded with accelerating pace. EUR/USD is currently trading at 1.3153. ADP employment change report showed the 42k… [ READ MORE ]

Kiwi Lower off RBNZ Statement- End of the Commdollar Rally?

As expected the RBNZ raised rates by another 25bp bringing the benchmark rate to 3.0%, but a dovish statement by the New Zealand central bank sent kiwi tumbling in post announcement trade and kept the unit under pressure throughout the Asian session. In his statement, Governor Allan Bollard noted that “the pace and extent of [ READ MORE ]

Soft Inflation Data Sends Aussie Below .9000

Australian CPI printed at 0.6% versus 1.0% eyed, disappointing investors and sending Aussie below the .9000 level in Asian session trade. On a yearly basis, prices rose at 3.1% pace versus forecasts of 3.4%. The key trimmed inflation measure was even more subdued printing at 2.7% – coming in handily below the RBA 3% target [ READ MORE ]

EUR/USD Extends Rally with Slowdown of U.S. Economic Growth

EUR/USD advanced for the third day on today’s Forex session after Spain auctioned its debt, easing concern for the nation’s fiscal system and for Eurozone economy, while news from the U.S. remain bad. True that the U.S. economy continues to expand, but with the constantly slowing pace how long can it… [ READ MORE ]

Better Labor Data Propels Cable to 2 Month Highs

UK Claimant count printed better than forecast helping to fuel a rally in cable that pushed the unit to a fresh 2 month high above 1.5250. UK jobless rolls declined by another -20.8K versus -20.1K eyed while the unemployment rate dipped to 7.8% from 7.9% forecast. The UK ILO employment figures for the three [ READ MORE ]

Weaker Chinese Data Weighs on Risk FX

Chinese economic numbers printed weaker across the board triggering a selloff in high beta currencies as worries over the potential slowdown in global growth resurfaced in the market. Chinese GDP for Q2 came in at 10.3% versus 10.5% forecast – more than a full point lower than last year’s number of 11.9%. Retail Sales also [ READ MORE ]

Strong Yen Suggests Deflation Will Persist In Japan

Japanese CPI printed a bit better that expected at -1.2% versus -1.3% with the pace of deflation decreasing from -1.5% the month prior. However May was the fifteenth straight month of falling prices indicating that deflation remains a persistent problem for the Japanese economy. [ READ MORE ]

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