Forex Analysis
Morning FX Market Commentary
Dollar and sterling still well bid on strong eco data On Tuesday, sterling and the dollar trended cautiously higher.
The Global Macro Pulse
EM equities fell and currencies weakened as concerns over Syria overshadowed strong US ISM overnight.
Riksbank forward guidance does not quite work
While a no-change from Sweden’s Riksbank seems a foregone conclusion later this week (meeting today, rate announcement Thursday morning),
FX Daily
Market movers today ● We expect no change to the final euro area service PMI, but look for some upside surprise in service PMI for Spain and Italy compared with consensus expectations.
EUR Mid-day Analysis
The September Euro continued on its downward slide from last week’s stark turnaround. What little economic data was reported Monday did have a positive economic tone for all of Europe;
JPY Mid-day Analysis
The Yen experienced broad based selling in Monday’s session as market sentiment pointed to global economic improvement and Japan’s Monetary Base expanded 42.0%;
CHF Mid-day Analysis
Switzerland’s GDP released today came in up 0.5% which was better than expectations by two tenths of a percent but below last quarter’s 0.6% increase.
USD Mid-day Analysis
The US Dollar continues its rise into this week following late last week’s leap higher. The threat of US military intervention into Syria has been put off by President Obama deflecting the final decision to Congress.
Riksbank rate decision – small market moves expected
On Thursday, the Swedish Riksbank will once again leave its main policy rate unchanged at 1.0%.
Morning FX Market Commentary
Dollar and sterling remain in good shape. Sterling was again an outperformer as the UK manufacturing PMI exceeded expectations by a wide margin.
The Global Macro Pulse
The wave of better-than-expected PMIs globally has pushed most equity markets up in Asia. The Nikkei has rallied 2.8%, the HSI and Kospi and S&P futures are all up 1.0%,
FX Daily
Market movers today ● The ISM manufacturing index is likely to fall back a bit after last month’s surge.