Economic Conditions

The foreign exchange market is quiet.  The euro remains confined to the narrow range seen on Monday between $1.1325 and $1.1395.  We continue to look for higher levels near-term as the drop from May 3 (~$1.1615) to May 30 (just...

The Japanese yen is the only major currency not to be gaining against the US dollar.  Emerging market currencies, save the Chinese yuan, are also advancing against the greenback today.  The yen rose 3.5% against the dollar last week, and...

After the shellacking it took after the shockingly poor jobs data, the US dollar has only managed a shallow recovery against the euro and yen.  The euro peaked near $1.1375 before the weekend.  The mild pullback to almost $1.1335 drew...

The US dollar reversed higher on May 3 and trended higher.  It peaked on May 30, but it was not clear until the poor US jobs report sent the greenback reeling on June 3.  The fact that May 3-May 30...

A gloomy outlook is enveloping the world’s economies. There are concerns too that countries are failing to sufficiently focus on long term policy responses to reverse the decline in global growth. Some argue that the global growth slowdown may be...

Activity in the global capital markets is subdued. Yesterday's moves are being consolidated, and the dollar has been confined to narrow ranges.  The euro is in a quarter cent range, while sterling is in a 50 cent range and the...

The US dollar remains under pressure.  It is off for the third day against the yen and slipped below JPY109 for the first time in a little more than two weeks.  The Nikkei struggled to cope with the foreign exchange...

A gloomy outlook is enveloping the world’s economies. There are concerns that countries are failing to sufficiently focus on long-term policy responses to reverse the decline in global growth. Some are even arguing that the global growth slowdown may be...

The US dollar is broadly mixed.  The main narrative of increased prospects for a Fed hike in June or July has been pushed off center stage as the market reacts to local developments as investors await from US economic data. ...

The US dollar bottomed against nearly all the major currencies on May 3.  The hawkish April FOMC minutes that began swaying opinion about the prospects for a summer rate hike were not published until two weeks later, and the confirmation...

The US dollar was mostly firmer over the past week.  There were two exceptions among the major currencies:  Sterling and the Canadian dollar. Many linked sterling's outperformance (+0.8%) to a growing sense that the UK will vote to remain in...

The US dollar is winding down the week on a firm note, but still in a consolidative mode.  The euro, yen, and Australian dollar are well within yesterday's ranges while sterling and the Canadian dollar pushing through yesterday's lows. Asian...

The US dollar is trading with a softer bias today after the momentum stalled yesterday.  The pullback is shallow but could be extended a bit more in the North American session.  The US reports weekly jobless claims, durable goods orders...

The US dollar is little changed against the major currencies as yesterday's moves are consolidated and traders wait for fresh developments.  Global equities were higher after Wall Street's advance yesterday.  Asia-Pacific bond yields were firm, following the US lead, but...

The capital markets are off to a mixed start to start the last week of the month.  Asian shares were mostly higher, though the Nikkei shed 0.5%.  European shares are also higher, extending the three-week high seen last week. The...