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Tag Archives: FX Daily

FX Daily, September 5: While Americans were Celebrating Labor Day

[unable to retrieve full-text content]There were several developments that took place while US markets were closed for its Labor Day holiday. Most of the economic news was favorable. This included a strong snap back in the UK service PMI, more evidence that the moral suasion campaign to lift wages in Japan is yielding some success and a rise in the Caixin's China's service PMI.

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FX Daily, August 23: Broadly Mixed Dollar in a Mostly Quiet Market

Swiss Franc Switzerland Trade Balance (See more posts for Switzerland Trade Balance) Click to enlarge. Source Investing.com FX Rates The US dollar is mostly little changed against the major, as befits a summer session. There are two exceptions. The first is the New Zealand dollar. Comments by the central bank’s governor played down the need for urgent monetary action and suggested that the bottom of cycle may be...

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FX Daily, August 22: Fischer Joins Dudley; Waiting for Yellen

Swiss Franc As usual, when discussions about rate hikes go on, then both the dollar and the euro gain against the Swiss Franc. Click to enlarge. Federal Reserve Last week, some market participants were giving more credence to what seemed like dovish FOMC minutes than to NY Fed President Dudley’s remarks that accused investors of complacency over the outlook for rates. Yesterday, Vice-Chairman of the Federal Reserve...

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FX Daily, August 19: Dollar Recovers into the Weekend

Swiss Franc: In the real effective exchange rate calculation, the PPI plays an important role. The Swiss producer price index fell by 0.8% YoY, while the German one is down 2.0%. Thismeans that in 2016 the CHF overvaluation is rising, when compared to the major Swiss trading partner Germany. The values for 2015 were -6% for the Swiss and -2.5% for Germany, the CHF overvaluation was reduced. Click to enlarge. Source...

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FX Daily, August 18: US Dollar Pushed Lower, but Do FOMC Minutes Really Trump Dudley?

Swiss Franc A bad day for the dollar means a good day for CHF, that appreciates against both euro and dollar. Click to enlarge. FX Rates It is not a good day for the US dollar. It is being sold across the board. The seemingly dovish FOMC minutes released late yesterday appears to have gotten the ball rolling. The takeaway for many was that any officials wanted more time to assess the data at the July meeting. The...

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FX Daily, August 17: Dollar Snaps Back

Swiss Franc Click to enlarge. FX Rates The US dollar is enjoying a mid-week bounce against all the major currencies. It appears that participants in Asia and Europe are giving more credence to NY Fed Dudley’s comments yesterday. Although many in the market have given up on a rate hike this year, Dudley reaffirmed his belief that the economy was accelerating in H2 and that the market was being too complacent. Many...

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FX Daily, August 16: Dollar Slumps, but Driver may Not be so Obvious

Swiss Franc Click to enlarge. FX Rates The US dollar is being sold across the board today. The US Dollar Index is off 0.65% late in the European morning, which, if sustained, would make it the largest drop in two weeks. The proximate cause being cited by participants and the media is weak US data that is prompting a Fed re-think. However, we are a bit skeptical. It is not that the US data has been strong, or that...

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