Giving Lemmings a Bad Name

Internal Devaluation Defined

High Frequency Trading Taking Us Back to the…

August 26th

USD Tumbles on Market Jitters

April 4th

Yen dumped amid mixed tankan

April 3rd

USD Declines Sharply

March 30th

GBP Slides of Data, Oil Soars

The major mover in the currency market on Wednesday was the sterling, which sold off against the dollar following a series of weaker than expected economic reports. The rest of the major currency pairs remained within a narrow trading range versus the greenback. Crude oil soared to its highest level…
March 29th

Dollar Erases Losses on Upbeat FOMC

The Fed raises its fed funds rate by 25 bps to 4.75%, and issued a more upbeat policy statement, sparking renewed rally in the dollar. The decision has erased all of the dollar’s losses that emerged after the higher than expected increase in Germany’s IFO survey earlier today. The Fed’s…
March 28th

FX Mixed Before FOMC, Yen Surges

The dollar was mixed in Monday trading, higher against the euro but sharply lower versus the yen as traders remained cautious ahead of tomorrow’s FOMC monetary policy announcement scheduled for 2:15 PM EST. The Fed is widely anticipated to lift its benchmark interest rate by 25-basis points to 4.75%. Since…
March 27th

USD Awaits Other Side of US Home Sales

8:30 am Feb Durable Goods Orders (exp 1.2%, -10.0%) 10:00 am US Feb New Home Sales (exp 1.2 mln, prev 1.233 mln) Traders brace for the February release of US new home sales, following the unexpected 5.1% increase in existing home sales, which resulted from milder than usual weather allowing…
March 24th

Yen Awaits US Senators, Sterling Braces for Minutes Surprise

4:30 am UK Minutes of Bank of England Interest Rate Decision (exp 8-1, prev 8-1%) 5:00 am E-12 Jan Trade Balance (exp EUR -1.4 bln, prev EUR -0.9 bln) 6:50 pm JPN Feb Trade Balance (exp Yen 1.62 bln, prev Yen 351 bln) Yen watchers are staying alert to the…
March 22nd

Dollar Wakes as Big Ben Rings

4:30 am UK Feb CPI y/y (exp 2.0%, prev 1.9%) 8:30 am CAN Feb Leading Indicators (exp 0.5%, prev 0.5%) 8:30 am CAN Jan Retail Sales (exp 0.9%, prev 0.3%) CAN Jan Retail Sales –ex autos (exp 1.0%, prev 0.4%) 8:30 am US Feb PPI (exp -0.2%, prev 0.3%) 8:30…
March 21st

Dollar Extends Damage on Tame CPI

The dollar sharpened its losses after a benign core CPI report reinforced speculation that the Fed may finish raising interest rates after this month’s expected tightening. While the headline CPI rose 0.1% in Feb from January’s 0.7%, the core CPI edged up 0.1%. On a year to year level, the…
March 16th

Dollar Breaks Amid Another Frgn Capital Shortfall

Net foreign capital flows into the US rose 23% to $66.1 bln in December from a revised $53.8 bln in December (initial was $56.6 bln). This was the second straight month in which net capital flows into the US fall below the trade deficit. The dollar is falling across the…
March 15th

Dollar Hurt by US Protectionism, Fears Data

5:00 am Mar GER ZEW Economic Sentiment Index (exp 71.0, prev 69.8) Mar ZEW Current Situation Index (exp -25.0, prev -19.5) 8:30 am US Q4 Current Account Balance (exp -$215.0 bln, prev -$195.8 bln) 8:30 am US Feb Retail Sales (exp -0.8%, prev 2.3%) US Feb Retail Sales ex autos…
March 14th

Yen Drop Seen Limited After BOJ’s Vote to End QEP

4:30 am UK Jan Merchandise Trade Balance (exp GBP -5.8 bln, prev GBP -6.1 bln) UK 4:30 am Jan Manufacturing Production (exp 0.2%, prev 0.3%) UK 4:30 am Jan Industrial Production (exp 0.2%, prev 0.2%) 6:00 am GER Jan Industrial Production (exp 3.2%, prev 3.5%) 7:00 am Bank of England…
March 9th

Dollar Rallies on Rising Yields, Contrasting Cenbanks

6:00 am GER Jan Factory Orders (exp 1.3%, prev -1.6%) 8:30 am US Q4 Productivity –revised (exp -0.1%, prev -0.5%) 9:00 am Bank of Canada Interest Rate Announcement (exp 3.75%, prev 3.75%) 6:45 pm Chicago Fed President Moscow Speaks. 6:50 pm JPN Feb M2 y/y (exp 2.0%, prev 1.9%) Dollar…
March 7th

JPY Selling Accelerates, USD Recoups

The dollar was sharply higher against the yen and the euro in the Monday session, recuperating from last week’s losses against the single currency. The US economic calendar was light today, seeing just the release of factory orders, which declined by less than expected in January, down 4.5% versus an…
March 6th