Forex News
Morning FX Market Commentary
Euro holding strong ahead of the ECB meeting On Wednesday, the dollar hardly profited from a strong labour ADP labour market report.
International Trade – October 2013
The October trade deficit of $529m came in worse than market expectations which centred on a $350m deficit {CBA(f) -$600m).
ISM Non-Manufacturing Moderates in November
The ISM non-manufacturing index moderated to 53.9 in November, but continues to point to a modest pace of growth. Firms continued to hire, but at a slower clip than in October.
New Home Sales Beat Expectations in October
New home sales rose a solid 25.4 percent in October, but fell 6.6 percent in September. On a regional basis, gains were broad-based.
U.S. Trade Deficit Narrowed in October
Exports rose more than imports in October, which suggests that real net exports may make another modest contribution to overall U.S. GDP growth in the current quarter.
USDJPY – favor symmetry target and channel resistance at 104
Monday we talked about the 103.91 target relying on symmetry targets. Prior, prices are correcting the wave-(iii) rally to 102.61 via a large sideways range between 102/103.50.
Macro Viewpoint: Encouraging rise in Swedish service PMI
The service sector PMI rose to the healthy level of 57.0 in November from 53.8 in October. The report is encouraging and yet another sign that growth in the domestic economy is healthy.
Morning FX Market Commentary
EUR/USD holding strong despite risk-off correction On Tuesday, European equities fell prey to profit taking.
GDP – QIII 2013: initial views
Real GDP rose by 0.6% in QIII. It matches the pattern of recent quarters and was a touch lower than the consensusexpectation which centred on a rise of 0.7%, (CBA (f): 0.8%).
Building Work softer than expected in third quarter
Building Work Put in Place showed a slightly softer than expected increase in building construction activity in QIII, with thedownside surprise driven by a decline in non-residential construction.
Morning FX Market Commentary
USD/JPY nearing the 2013 top The dollar was in good shape yesterday. EUR/USD finally dropped off the 1.36 area. USD/JPY is nearing the 2013 top.
GDP Preview – QIII 2013
The run of QIII data releases is approaching a peak, with the GDP data due tomorrow. Based on the data flow to date, weexpect real QIII GDP growth to print at 0.8% in the quarter.