Posts Tagged ‘ spending ’

Dollar: Is Bernanke In Denial?

The U.S. dollar sold off against every major currency despite stronger than expected consumer spending in March. Some people have blamed the weakness of the greenback on the rally in equities and the improvement in risk appetite but the sell-off in USD/JPY indicates that the real reason why the dollar is under pressure is [ READ MORE ]

EUR/USD Corrects After Setting Local High

EUR/USD declined significantly after it has set a new highest level in more than a week today. It looks like the positive consumer confidence and home price dynamics have helped the U.S. dollar to recover. EUR/USD is now trading near 1.3411 after rising as high as 1.3536 earlier. S&P/Case-Shiller home price index in its seasonally adjust value for 20 U.S. cities went up to 146.32 in January. It was [ READ MORE ]

Pressure To Maintain USD/JPY Above 90.00 As Data Disappoints

Japanese Household spending declined for the first time in six months dropping to -0.5% from 1.7% gain the month prior. The Ministry of Internal Affairs and Communications said February spending by wage-earner households fell 2.2% year-on-year. The news was a surprise to the market which had anticipated a gain of 1.5%. The weak household [ READ MORE ]

U.S. Dollar: Err On The Side Of Optimism

It has been an extremely quiet North American trading session with USD/JPY confined within a 30 pip trading range and the EUR/USD fluctuating within a 50 pip range. Most of the major currency pairs have strengthened while U.S. stocks climbed to fresh yearly highs. This indicates that risk appetite has improved which is not [ READ MORE ]

Currencies Slip on U.S. Tepid Data, German CPI Growth Accelerates

This morning’s U.S. economic reports were relatively tepid with personal income growth stagnating and spending growth slowing. Although income was revised upwards in January, spending was revised downwards offsetting any positive connotations from the report. [ READ MORE ]

Will EU Summit Save the Euro?

German consumer confidence printed slightly better than expected at 3.2 versus 3.1 eyed remaining steady for the third month in a row. In March both economic expectations and household income expectations improved but consumers remained reluctant to increase their spending with the buying propensity index falling slightly to 23.4 from 24.2. [ READ MORE ]

U.S. Dollar: Nothing Wrong With Being Predictable

There was quite a bit of volatility in the forex market following the FOMC announcement even though there were no major surprises from the Federal Reserve. The Fed kept interest rates unchanged at 0.25 percent, continued to unwind their emergency measures and reminded the market that they are not ready to raise interest rates. [ READ MORE ]

Why Dollar Bulls Shrugged Off Retail Sales

Based upon the price action in the financial markets on Friday, the U.S. retail sales report failed to impress traders and investors. There was no ambiguity in the strength of the consumer spending report yet equities and bonds ended the day virtually unchanged. In the currency market, the U.S. dollar rose initially following [ READ MORE ]

Pound Falls, but may be Oversold

One of the pitfalls of forex blogging (or all financial reporting for that matter) is that it’s inherently after-the fact. In other words, any information about the past – while relevant – is inherently useless, since it has theoretically already been priced into the asset (or currency in this case). Before I begin my post [ READ MORE ]

How Severe Could Job Losses be and will it Matter?

A recovery is not much of a recovery when there is no job growth and consumer spending. Friday’s labor market report is not expected to provide any encouragement for supporters of the U.S. recovery because job losses could accelerate. The improvements in the labor market have been uneven and we expect this trend [ READ MORE ]

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