The dollar is broadly weaker as news developments remain mostly positive, boosting sentiment. North American session sees US November inflation; euro likely supported today on short-covering rally. RBI left rates on hold at 8.5%, as expected; IDR rallies after Fitch upgraded it to investment grade.Read more ›
Post Tagged with: "economic data"
The dollar is broadly weaker as Spanish auction goes well, euro zone PMIs better than expected. SNB held policy steady with no change to EUR/CHF floor. China, Singapore data help boost sentiment; Hungary reaches deal with banks on CHF loans.Read more ›
The dollar is broadly firmer as Italian yields rise at 5-year bond auction, euro zone IP falls.Swiss data weak ahead of SNB meeting tomorrow; Norges Bank seen cutting rates 25 bp. China data gives cover for more PBOC easing; RBA suggests AUD weakness will help cushion economy.Read more ›
The dollar is broadly weaker as sentiment improves in the wake of an agreement on fiscal integration. European officials have struck what appears to be significant agreement; one of the costs is a new split in Europe as the UK and others are not in agreement. UK trade deficits narrows but unlikely to change economic outlook; China’s inflation decelerates.Read more ›
The dollar is trading slightly firmer ahead of today’s ECB rate decision and tomorrow’s summit. We expect the ECB to cut by 25bps, with a possibility of a 50bps cut; look to fade knee-jerk reaction. Australia’s employment much weaker than expected; Singapore imposes news taxes on homes.Read more ›
Asia extended the euro’s recovery, but developments in Europe have seen it surrender the earlier gains and move back toward the lows seen in North America yesterday near $1.3360. The relatively light participation in the ECB’s 84-day dollar auction and signs that even at this late date there are key disagreements among euro zone officials about key issues like private sector participation, EFSF/ESM, and role of IMF seemed to sour the mood. In any event, the euro came off quickly after the results, but this also coincided with conflicting comments about whether the EFSF and ESM would run concurrently as floated yesterday, the role of private sector investors in future sovereign bailouts and the role of the IMF.Read more ›
The euro sold off amid the rumors of the S&P decision to put on credit watch 15 euro zone countries. Spared was Greece, in a world of its own, and Cyprus, which was already on credit watch. It sold off further in Asia, but Europe has shrugged it off and, with the help of a monster manufacturing orders report from Germany has fully recovered from the drop that took it to a 4-day low of about $1.3335. Offers are seen in the $1.3430 area now.Read more ›
A breakdown of employment gains and losses by industry plus an excerpt of what the BLS had to say about this morning’s employment reportRead more ›
As often is the case, economic data can be a bit of a Rorschach test, in that reasonable people can see and value different aspects of the report. This holds for today’s US employment report. The headlines were good–140k private sector jobs were created, near expectations, back months were revised up by 72k, and the unemployment rate fell unexpected to 8.6%.
The details are less inspiring.Read more ›
Bottom line: the numbers are decent but they beat expectations. Markets are in a bullish end of year tape painting frame of mind, so stocks will rally. Daddy needs a bonus so Santa is indeed coming to town. The Santa Claus rally is on.Read more ›
The dollar is trading on an easier footing as risk improves ahead of payrolls and hope of EZ action. US private payrolls expected to come in at 150k; strong report likely to be supportive of sentiment. Merkel calls for treaty changes in order to make way for fiscal union; India reviewing FX policy.Read more ›