Forex Analysis
The Global Macro Pulse
Asian FX and fixed income selloff continues. USDKRW spiked to 1159 on the open, and USDMYR traded a high of 3.216 before running into central bank intervention.
Morning FX Market Commentary
Dollar profits from higher yields and rising volatility The Fed’s policy assessment and negative news on China triggered a sell-off in risky assets with funds looking for shelter in the dollar.
GBP/USD Analysis
The pair found support throughout the US afternoon bouncing off European lows of $1.5415 after release of strong Retail Sales.
EUR/USD Analysis
The pair closed in NY Thursday at $1.3220. The rate earlier pressed to session lows of $1.3161 after release of strong Philly Fed data,
USD/JPY Analysis
The pair closed in NY Thursday at Y97.45. The rate earlier lifted to Y98.23 after release of strong Philly Fed data, before easing on profit take sales.
Jobs restructuring works both ways
Anxiety over job security has been a major issue for households and businesses over the past few years.
Mid-Day FX Market Analysis
USD: The Dollar has extended yesterday’s huge post-FOMC reversal with a sizable upside follow-through this morning,
Central European Daily
Hungarian forint under significant pressure after Fed Polish construction fell by more than 27 % y/y in May Central European currencies were hit by rather hawkish outcome of Fed meeting.
Norges Bank lowers key policy path, as we expected; 50% chance of a cut in Q3 this year
• Key policy rate unchanged, at 1.5%; path lowered by 0.45bp at the most
SNB holds rate
Swiss National Bank decided to keep the 3-month libor target rate at record low of 0.00 to 0.25 percent in June,
Morning FX Market Commentary
Dollar jumped sharply higher after FOMC message The repositioning on a scaling back of policy accommodation was recently not in favour of the dollar.