The dollar remained relatively steady on Friday following the release of the US Retail Sales, which came in at 0.6% in December, a solid reading but missing expectation of 0.7%. Ex-auto sales rose 0.2%, also missed expectation of 0.5%. Headline PPI rose 0.3% mm, 1.6% yy in December, up from November’s 1.3% yy meeting expectation. Earlier in… Read More »
It was all about Donald Trump on Wednesday, with traders aggressively buying the dollar and stocks, while selling commodities ahead of his press conference. That all turned around very quickly once he started speaking – but giving little away with regard to economic detail – and the dollar weakness accelerated following the very strong bid in the… Read More »
Currency markets are mixed at the end of Monday trade, with the dollar heading lower against the safe-haven yen due to reduced appetite for risk, but higher against Sterling, which sank to levels last seen in October on talk that Britain would head for a hard Brexit following some weekend comments from UK PM, May. The commodity… Read More »
The US$ is heavy at the end of Thursday trade after some mixed job data, which comes ahead of today’s monthly US employment report. The initial jobless claims dropped 28k to 235k in the week ended December 31, much lower than expectation of 260k, while on the other side of the coin the ADP jobs report grew… Read More »
It has been a volatile session for the markets, with the US ISM data underpinning thoughts that the US economy is continuing its upwards trajectory, raising the possibility of another near-term rate hike…..
Trend Table: Tuesday, December 13, 2016 Daily Outlook: The dollar is a little heavy due to pre-FOMC position squaring, while stocks, having made another all-time high have turned to head a little lower. While not wanting to hold anything through the FOMC, some short term trends appear to be in play. Further weakness in the dollar looking possible,… Read More »
Trend Table: Monday, December 12, 2016 Daily Outlook: The Euro headed lower again on Friday as the market disseminated the fallout from the ECB Meeting and it unlikely to receive much assistance from Wednesday’s FOMC Meeting, where a rate rise looks a sure bet. The dollar also looks good against the Yen and Chf although one has to… Read More »