Tag Archives: USD

It was supposed to be a quiet week. The economic data and event calendar was light. There were three features, and none would likely disrupt the markets much. Eurozone The first two are in Europe. The eurozone flash PMI for July, the first insight into how Q3 has begun. The PMI is expected to paint a mostly steady economic activity. The June composite PMI rose for the first time since January, and it is forecast to be...

US equities and the dollar appear to be moving higher together. The greenback is near its best level this year against most of the major and emerging market currencies. The Chinese yuan is not an exception to this generalization. At the same time, the S&P 500 is at its best levels since the downdraft February, and the NASDAQ set a new record high earlier in the week. Many investors and observers speculate about the...

Swiss Franc The Euro has risen by 0.19% to 1.1651 CHF. EUR/CHF and USD/CHF, July 20(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar is little changed but mostly softer as the week draws to a close. The market is digesting the implications of yesterday’s comments by President Trump about interest rates and foreign exchange, and without fresh economic data, are...

Swiss Franc The Euro has risen by 0.03% to 1.1625 CHF. EUR/CHF and USD/CHF, July 19(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar is extending its recent gains against most of the world’s currencies. We continue to see the most compelling case for the macro driver being the diverging policy mixes. There are also more immediate factors too. The surprisingly...

Swiss Franc The Euro has fallen by 0.21% to 1.1635 CHF. EUR/CHF and USD/CHF, July 18(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar is at its best level here in July against the Canadian dollar. The CAD1.3265 area corresponds to a 61.8% retracement of the leg down in late June from almost CAD1.3390 to the recent low near CAD1.3065. The Australian dollar has...

Swiss Franc The Euro has fallen by 0.21% to 1.1645 CHF. EUR/CHF and USD/CHF, July 17(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar eased in Asia session and the European morning. The greenback had appeared technically vulnerable, and the economic news stream is light. Sterling, unlike most of the other major currencies, remains within yesterday’s range....

Swiss Franc The Euro has fallen by 0.05% to 1.1683 CHF. EUR/CHF and USD/CHF, July 16(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar is slightly softer against most of the major currencies but is in narrow ranges ahead of today’s key events, which include US retail sales and the debate in the UK parliament over Brexit. The yen is the main exception. The local...

You would never have guessed it reading many of the op-eds and pundits pronouncing the end to globalization or the West, or liberalism. Global equities have rallied. Of course,  stock prices are not the end all and be all, but it stands in stark contrast to the cries that the sky is falling. The MSCI World Index of developed markets advanced for the second consecutive week adding 2.2%. The US S&P 500 moved above...

The Dollar Index made a marginal new high for the year at the end of June a touch below 95.55. It fell through the start of this week when it reached nearly 93.70. With the earlier gains, the Dollar Index briefly traded above the 61.8% retracement of the pullback  (~94.85). A move now below 94.20 would be disappointing. The Dollar Index is not a trade-weighted. It is too concentrated in Europe and does not include two...

Swiss Franc The Euro has risen by 0.01% to 1.1698 CHF. EUR/CHF and USD/CHF, July 13(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Sterling’s 0.6% loss (@ ~$1.3120) is co-leading the downside in the firm US dollar environment, having to share that role with the New Zealand dollar today, where a weaker manufacturing PMI (52.8 from 54.4) is taking a toll. Both sterling and...