Swiss Franc The Euro has risen by 0.64% to 1.0898 . FX Rates Overview: The modest loss in the S&P 500 and NASDAQ yesterday did not signal the end of the bull run. All the markets in the Asia Pacific region rallied, with the Hang Seng among the strongest with a 1.6% advance that brought the week’s gain to around 7.8%. South Korea’s Kospi was not far behind with a weekly gain of 7.5%. In the past two weeks, the MSCI Asia Pacific Index is up nearly 10%. European...
Read More »FX Daily, May 8: Jobs and Negative Fed Funds Futures
Swiss Franc The Euro has fallen by 0.09% to 1.0528 EUR/CHF and USD/CHF, May 08(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The S&P 500 closed near its session lows for the third day running yesterday but failed to deter the bulls in Asia-Pacific, where most markets rose by more than 1%. Taiwan, Korea, and Australia lagged a bit though closed higher. Europe’s Dow Jones Stoxx 600 is firm, and the modest...
Read More »FX Daily, October 4: The US Jobs Data to Close a Sobering Week
Swiss Franc The Euro has fallen by 0.37% to 1.0913 EUR/CHF and USD/CHF, October 4(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The recovery of US shares yesterday signaled today’s fragile stability. Gains in Japan, Australia, and Taiwan blunted the losses elsewhere in the region, including a 1% slide in Hong Kong. The MSCI Asia Pacific Index fell for the third week. China’s markets have been closed since...
Read More »FX Daily, July 05: Dollar is Bid Ahead of Jobs Report
Swiss Franc The Euro has risen by 0.10% at 1.1126 EUR/CHF and USD/CHF, July 05(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The dovish response to news that Lagarde was nominated to replace Draghi was extended by the dismal German factory order report that has pushed the euro to new two-week lows and kept bond yields near record lows. The focus ahead of the...
Read More »FX Daily, May 03: Ahead of US Jobs Report, the Greenback Remains Firm
Swiss Franc The Euro has fallen by 0.13% at 1.1374 EUR/CHF and USD/CHF, May 03(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The US April jobs data stand before the weekend, and the greenback is holding on to most of yesterday’s gains as participants wait for the report. Equities in the Asia Pacific region were mixed without leadership from China and Japan, where...
Read More »US Jobs Data Optics Disappoint, but Signal Unchanged
The US jobs growth slowed in March more than expected, but the details of the report suggest investors and policymakers will look through it. The poor weather seemed to have played a role. Construction jobs fell (15k) for the first time since last July, and the hours worked by production employees and non-supervisory worker slipped. United States The 103k net new jobs were the least since last September when storms...
Read More »FX Daily, March 09: Today is about Jobs, but Not Really
(About to set off on another business trip. I will spend the next two weeks in Asia. The updates will be sporadic. Thanks for your patience.) Swiss Franc The Euro has fallen by 0.01% to 1.1706 CHF. EUR/CHF and USD/CHF, March 09(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US Administration has softened its initial hardline position of no exemptions for the new...
Read More »FX Daily, February 02: A Note Ahead of US Jobs Report
Swiss Franc The Euro unchanged at 1.1585 CHF. EUR/CHF and USD/CHF, February 02(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar is sporting a firmer profile against all the major currencies after weakening yesterday. Frequently, it seems the Australian dollar leads the other currencies, and we note that it is making a new low for the week today. Briefly, in...
Read More »FX Daily, January 05: Dollar Given Reprieve Ahead of Employment Report
Swiss Franc The Euro has risen by 0.04% to 1.1753 CHF. EUR/CHF and USD/CHF, January 05(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates As the US dollar finished last year, so too did it begin the New Year, and after extending its losses, the bears have paused. Technical factors had been stretched, but it appears to have been old-fashioned macroeconomic considerations to...
Read More »Headline US Jobs Disappoint, but Earnings as Expected
United States The headline US non-farm payrolls disappointed, rising by 148k instead of the consensus of 180k-200k. However, the other details were largely as expected and are unlikely to change views about the trajectory of Fed policy or the general direction of markets. It is a very much steady as she goes story. The headline miss is not really made up for by the upward revision in the November series from 228k to...
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