Forex News
Morning FX Market Commentary
Dollar hit by soft Hilsenrath comments On Thursday, it looked as if EUR/USD would hold its recent consolidation pattern near the 1.32 level as the IFO and
Mixed orders report
New orders for durable goods were very strong once more in June, driving the annualised quarterly pace of growth to a very solid 28.7%.
UK GDP growth gained in momentum
GDP growth accelerated in Q2 2013 (to +0.6% q/q, after +0.3% q/q in Q1 2013). On a year-on-year basis, GDP increased by 1.4%.
July IFO survey up again
In July the IFO business climate index increased for the third consecutive month. The small fall in the expectations index was more than offset by the rise in the current conditions.
Morning FX Market Commentary
Euro hardly profits from strong PMI’s EUR/USD tested the 1.3254/64 resistance after the strong EMU PMI’s, but the gains could not be sustained.
RBNZ remains on hold, but delivers firmer statement
• OCR unchanged at 2.5%, as universally expected. • The statement is slightly firmer than in the June MPS,
Rate Increases More Widely Accepted
By and large, today’s OCR review was simply a restatement of the June MPS. Indeed, much of the text was identical.
US New Home Sales Surge to a Five-Year High in June
• New home sales jumped 8.3% to 497,000 in June 2013, thereby beating market expectations for 484,000 annualized unit sales in the month.
Morning FX Market Commentary
Dollar still struggling to find a bottom Yesterday morning, the dollar showed tentative signs of bottoming out, supported by higher core bond yields.
CPI June Quarter 2013
The QII headline CPI grew by 0.4%, lower than market expectations which centred on a rise of 0.5% {CBA (f) 0.4%}.
Morning FX Market Commentary
Dollar looking for a floor On Monday, the dollar remained under slightly pressure. There was hardly any news to guide trading.
US Existing Home Sales Slip Slightly in June, Prices Up Solidly
• Existing home sales in the US declined to 5.08 million annualized units in June 2013 from May’s revised 5.14 million sales (initially reported as 5.18 million).