FX Daily

 

FX Daily
November 19, 2013 Posted by
The Australian dollar rose for the third straight day after comments coming from the PBOC that it intends to exit from normal currency intervention in the foreign exchange market and will widen the yuan’s trading band accordingly over time.
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FX Daily
November 18, 2013 Posted by
The week started off on a quiet note, with little global news to move the markets. The dollar weakened a bit against most other currencies ahead of speeches from several Fed officials later today.
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FX Daily
November 14, 2013 Posted by
Janet Yellen, the nominee to be chairman of the Federal Reserve, is testifying at the Senate Banking Committee. She states clearly the central bank should take care not ....
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FX Daily
November 13, 2013 Posted by
The market is taking a breather this morning ahead of Yellen’s testimony at the Senate Banking Committee. It could get interesting tomorrow as Janet Yellen will discuss .....
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FX Daily
November 12, 2013 Posted by

 The USD rose versus the majority of its 16 major peers as a gauge of national U.S. business activity improved in September and after payroll gains last week topped forecasts.

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FX Daily
November 08, 2013 Posted by
The markets have been volatile today.  U.S. payrolls grew by much more than expected in October, rising by 212,000 vs. expectations of a rise of 125,000.  In addition, prior months were also revised higher by 60,000. 

 

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FX Daily
November 07, 2013 Posted by
Nobel laureate Paul Krugman wrote a paper to be presented at the International Monetary Fund conference today. In his paper, Krugman argues that the U.S. and U.K. are immune from the type of debt crisis that plagued five Eurozone countries because they borrow in their own currency and aren’t part of a monetary union.

 

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FX Daily
November 06, 2013 Posted by
Two separate Fed staff research papers were posted on the IMF’s website in advance of the conference that starts tomorrow in Washington. These papers indicate that maintaining a loose policy in a time of low inflation expectations is effective for driving down unemployment and economic slack.
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FX Daily
November 05, 2013 Posted by
The South African Reserve Bank plans to start diversifying its foreign currency reserves by adding Korean Won, Australian dollars, and New Zealand dollars. The Bank stated that it “is acutely aware of the risks facing the global environment emanating from asset tapering, and with this in mind, made a strategic decision to diversify its currency exposure to help insulate reserves from the potential rise in U.S. Treasury yields.”
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FX Daily
November 04, 2013 Posted by
The USD is weaker against most majors this morning, driven in part by stronger data overseas. The Euro came off of six-week lows against the USD after the Eurozone PMI release showed manufacturing in the region expanded for the fourth straight month.
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