Forex Analysis
AUD/NZD Has Fallen Enough For Now
After being under pressure for several weeks, AUD/NZD has recently bounced off its lows. Relative commodity prices, relative housing trends,
Morning FX Market Commentary
Currencies: Calm returned Following sharp moves in past days, FX markets took a breather. Major crosses ended yesterday’s session little changed.
USD/JPY Analysis
The pair closed in NY Tuesday at Y99.98 after rate had extended its recovery off recent lows of Y98.86 (Jun3) to Y100.42 (Europe Jun4), pivoting the Y100.00 area into the close.
FX Daily
Market movers today • US ISM non-manufacturing will be followed closely given the surprise drop in the manufacturing ISM. We expect an improvement,
GBP/USD Analysis
The pair closed in NY Tuesday at $1.5314 after rate had recovered off lows of $1.5274 to $1.5319 ahead of the close.
EUR/USD Analysis
The pair closed in NY Tuesday at $1.3079 after recovering off lows of $1.3042 to $1.3090 before easing into the close.
Mid-Day FX Market Analysis
USD: The Dollar has been able to extend Monday’s bounce from 31/2-week lows with some moderate gains this morning,
Monetary policy key for FX. AUD and NOK to recover after recent weakness.
The SEB FX Scorecard is updated on a monthly basis. It includes both changes to individual currency scores and alterations to weights to reflect FX market themes and drivers.
ISM manufacturing drops to 4-year low to start June, more signs of improvement in Europe, RBA on hold
The month of June began with investors on the back foot. Equity indices opened lower following the lead of the soft US performance into the close on Friday.
Morning FX Market Commentary
Currencies: dollar sold on poor US ISM A poor US ISM of the manufacturing sector raised doubts on the timing of the Fed exit of QE. The dollar was hit across the board. USD/JPY dropped (temporary?) below the 100 mark.
RBA Board Meeting, June 2013 – “Don’t rock the boat baby!”
• The RBA left the cash rate unchanged at 2¾% at the June Board meeting, as widely expected.
GDP Preview – QI 2013
• We expect QI GDP growth to print at +0.9%. • Annual real growth should stand at +2.8%.