Forex Analysis
JPY Mid-day Analysis
Apparently there is enough residual global economic uncertainty to leave the Yen in a minor upward trackon the charts. Limiting the Yen on the upside are fears of a record trade deficit next week.
USD Mid-day Analysis
A fresh lower low for the move and the lowest exchange rate since December 31st highlights anentrenched downward pattern in the Dollar.
CAD Mid-day Analysis
The sharp slide in the Dollar is serving to lift the Canadian by default. While some of thegains might have come because of a rise in Canadian home prices,
GBP Mid-day Analysis
The Pound continues to streak higher on the charts as the macro economic differential edge has beenjoined by talk that the interest rate differential is set to expand.
Euro area: Steady, but slow, recovery continued in Q4
The Euro-zone ended 2013 on a stronger note than predicted by the market, with GDP growing 0.3% q/q vs. expectations of 0.2% in Q4.
Central European Daily
Solid growth, low inflation and another NBH’s rate cut… The 4Q13 preliminary GDP figures delivered positive surprise in most of the countries in Europe.
Little news from the Riksbank and Norges Bank
Norges Bank governor Olsen’s annual address last night did not contain any near-term policy signals. However, it included the following statement: ‘Given the prevailing long-term interest rates abroad,
The Global Macro Pulse
USDJPY made another attempt to test the low around 101.8 in Asia. A 1.8bp drop in US 10y yield to 2.7141% also contributed to the move.
FX Daily
Q4 GDP for the euro area as a whole and several euro area countries is due forrelease today. Based on our ‘hard data’ model we look for a rise in euro-area GDP of0.3% q/q.
FI Eye-opener: Italy at it again. New PM but any changes?
Bond yields dropped somewhat yesterday triggered by weak US retail sales and in the early evening the news that Italian premier Letta is resigning.
EUR/USD Analysis
Another unexciting day for the euro as it started at $1.3681 this morning in the Asia-Pacific timezone, following a $1.3663 to $1.3692 range overnight in the US.
GBP/USD Analysis
The pair closed in NY Thursday at $1.6656 after rate had extended its post BOE QIR rally, from $1.6426, to $1.6675. Rate pulled back to $1.6622 in late Europe before drifting higher through the NY afternoon into the close.