FX Daily

 

FX Daily
January 29, 2014 Posted by
The Federal Open Market Committee announced today that it will reduce its monthly bond purchases by $10 billion to $65 billion from $75 billion, maintaining its plan to gradually withdraw from the current QE program.
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FX Daily
January 29, 2014 Posted by
Emerging stock and currency markets are under pressure again this morning. The Turkish central bank unexpectedly more than doubled benchmark repo rates from 4.50% to 10.00% overnight in a bid to stop the slide of the Lira precipitated by a slowdown in China and a reduction in U.S. monetary stimulus.
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FX Daily
January 28, 2014 Posted by
Janet Yellen takes over as Fed Chair at the end of the month and will confront the challenge of defusing a potential asset bubble fueled by stimulus without damaging the U.S. economy. The Fed concludes its 2 day policy meeting tomorrow, the last meeting with Bernanke at the helm, and will likely announce another $10 billion reduction to its monthly bond buying program, down to $65 billion.
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FX Daily
January 27, 2014 Posted by
ECB Governing Council Member Christian Noyer said that turmoil in emerging markets is unlikely to derail Europe’s recovery.  He commented that “the IMF has just revised upward its global growth forecast, so there’s no particular reason that Europe should be affected by the problems encountered by a small number of countries.”
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FX Daily
January 24, 2014 Posted by
Risk-off remained the global theme and flight to quality trades saw Treasury yields drop further overnight in conjunction with most global bonds. The yen and the Swiss franc rallied as a selloff in emerging-market currencies deepened, stoking demand for haven assets.
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FX Daily
January 22, 2014 Posted by
Bank of Canada’s meeting and interest rate decision is the 'main event' for today. Bank of Canada Governor Stephen Poloz kept his main interest rate unchanged and said the direction of his next move
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FX Daily
January 21, 2014 Posted by
The Canadian dollar weakened to 1.10 for the first time in more than four years amid speculation the U.S. Federal Reserve will slow its monetary stimulus as the Bank of Canada signals more may be on its way.
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FX Daily
January 17, 2014 Posted by
The USD is approaching a four-month high vs. the EUR after a U.S. housing report for December showed a better-than- expected number despite a weather-related drop for the month.  The final housing report for the year reflected the best performance for the industry since 2007.
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FX Daily
January 16, 2014 Posted by
The FX markets are a bit choppy today, with the USD slightly weaker vs. the EUR and GBP after the release of the U.S. CPI report earlier this morning, confirming the current inflation rate remains well below the Fed’s 2% target (USD negative).  The offset to the inflation report was the jobless claims announcement, which showed the number of people continuing to receive jobless benefits jumped to the highest since July.
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FX Daily
January 15, 2014 Posted by
The USD index rose to its highest level in nearly four months after a couple positive U.S. economic reports (Empire State Index and PPI) were released this morning for December. Against the EUR, the USD has climbed to a two-week high after today’s reports and yesterday’s surprise retail sales announcement, reaffirming the view that a surging U.S. economy will encourage a hawkish Fed this year, and will continue to cut stimulus (QE) this year.
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