Forex Analysis
Central European Daily
Czech and Polish current accounts improve significantly The Hungarian government unveils a new levy on banks As we had expected the Czech koruna shrugged off the recent political turmoil,
Morning FX Market Commentary
Currencies: Dollar holding near the recent lows The dollar is still hurt by uncertainty on the fate of the Fed’s bond buying programme.
FX Daily
Market movers today • US housing starts and permits. Following the strong rise in the NAHB housing index yesterday it seems the somewhat softer housing activity data are behind us.
The 18-19 June FOMC meeting remains a key focus in financial markets
USD positioning ahead of the 18-19 June FOMC meeting remains a key focus in financial markets.
USD/JPY Analysis
The pair was tied to a narrow Y94.80-95.00 range for the majority of the session before climbing to Y95.22 after a G8 statement that endorsed Japanese policy in the short term.
GBP/USD Analysis
The pair took out the $1.5750 barrier and lifted to 4 month highs of $1.5753, before profit take supply and fast money sales pared gains.
EUR/USD Analysis
The pair closed in NY Monday at $1.3370. The rate tied to a narrow $1.3328-59 range for the majority of the session,
RBA Board Minutes – June 2013
• RBA maintains a somewhat more muted easing bias, saying low inflation “might” provide scope to cut the cash rate if “required to support demand”.
FOMC preview: Once again Bernanke faces a communication challenge
Bernanke to repeat his message – maybe markets will listen this time The forward-looking parts of the FOMC statement are likely to remain unchanged but the description of current developments might see some changes.
Mid-Day FX Market Analysis
USD: The Dollar has been fairly subdued to start out this new trading week, but was able to grind out a modest gain coming into this morning’s session.
Pre SNB: Remaining sidelined
At its June meeting we expect the SNB Governing Board to: • Retain its monetary policy stance
Fitting together nicely
Big Picture: Data released last week is consistent with our view that the largest economies are in the early stages of acceleration.