Asia sells Dollars into rallies Releases from Australia: December Forecast Actual HIA New Home Sales (MoM) – 2.6% (prior) – 1.3% Private Sector Credit (MoM) +1.2% +1.1% Private Sector Credit (YoY) 16.6% 16.5% Private Sector Credit remained buoyant in December recording a sturdy 16.5% YoY rise over 2007. Indeed, both consumers and businesses still see [...]
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The Fed has done its job – now its the time for fiscal policy European releases overnight: December Forecast Actual U.K. M4 Money Supply (F) (MoM) +1.5% +1.5% U.K. M4 Money Supply (F) (YoY) 12.3% +12.3% U.K. M4 Sterling Lending (F) GBP 17.4bn U.K. Net Consumer Credit GBP 1.1bn +0.6bn U.K. Mortgage Approvals 79K 73K [...]
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The countdown begins… Releases from Europe: Forecast Actual January French Business Survey: Overall Demand 18.0 13.0 Little out so far today – just the French demand survey which unsurprisingly marked a decline from last October of 5 points. This reflects a decline in the ratio of respondents looking for a rise in demand. Will have [...]
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Asia sets the quiet tone prior to Q4 GDP and the FOMC decision Releases from Australia: January Prior Actual DEWR Skilled Vacancies (MoM) +1.9% +1.1% Releases from Japan: December Forecast Actual Industrial Production (MoM) +2.0% +1.4% Industrial Production (YoY) +1.5% +0.7% Vehicle Production (YoY) +3.8% (prior) +1.5% Japan’s industrial production release was on the soft [...]
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Like a rabbit caught in headlights… European releases overnight: December Forecast Actual Swiss UBS Consumption Indicator 2.203 (prior) 2.200 January Italian Business Confidence 91.3 91.6 U.K. CBI Distributive Trade Reported Sales 8.0 (prior) 4.0 Overall a fairly uneventful session yesterday for Europe. French consumer confidence was lower while Italian business confidence followed through from last [...]
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Even if there’s a will – at the moment there’s no way Releases from Europe: December Forecast Actual Swiss Trade Balance CHF 0.95bn 0.20bn January French Consumer Confidence – 30.0 -34.0 Switzerland saw its Trade Surplus squashed like a pancake in December with a shock release of just CHF 198mn. Exports sank by 3.4% while [...]
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Asia spends a quiet morning session Releases from Australia: December Prior Current Australia NAB Business Confidence + 6 + 5 Australia NAB Business Conditions +15 +17 Australian businesses are still operating within a buoyant market but their confidence is waning according to the NAB. The news does not surprise but for the moment the economy [...]
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Today at 19:15 GMT, we are scheduled to see the release of the US interest rate statement. The greenback was… Jan 30 2008 10:18AM GMT Read More …
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The US House approved overwhelmingly today a $146 billion tax rebate stimulus package agreed to as a compromise between democratic… Jan 30 2008 10:10AM GMT Read More …
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Weekly Forex Market Commentary
The dollar tumbled across the board during the last week of 2007, and the carry trades were put on the back burner. With trading volumes thinned out the market took the US currency to the only logical direction, down, but currencies gained at different paces. The new year should start with the dollar on the [...]
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