Forex Analysis

USD: Are We There Yet?

In regards to the US economy the message after the July round of data is clear: gradual progress in the strength of the economic recovery persists.

AUDUSD rose to 0.9327, but most of this came ahead of the RBA statement.

German bond yields edged marginally higher yesterday in a narrow trading range, while US yields closed the day a bit lower.

Euro retail sales are expected to have increased 0.5% m/m in June. Consumerconfidence,

Aussie started this morning at $0.9334 after a US range of $0.9312 to $0.9337 overnight.

The pair closed in NY Monday at $1.6863, after rate recovered off an intraday low of $1.6814 (remaining buoyed above recent low at $1.6812 and

The pair opened at $1.3422, just off last night’s US high of $1.3425, but has since failed to make further headway,

JPY opened at Y102.57 this morning while euro-yen started at Y137.66.

USD strengthened over July as data continues to print strongly, and Yellen acknowledges risk of earlier rate rises.

Labor markets gains support USD bulls

The Euro temporarily benefited from the some what disappointing US Non-farm payroll results at the endof last week.

As in the Euro, the Swiss was due for some technical short covering but one has to think that the ECB and