Forex News
Morning FX Market Commentary
EUR/USD nearing the 2012 low The euro extended its downtrend on soft comments from ECB Asmussen and an S&P downgrade of the Italy.
June trade data softer on sluggish external demand
In June, China’s overseas shipments dell by 3.1% from a year ago, compared to the market expectation of around 3-4% (JoY).
Consumer Confidence – July 2013
The Westpac-Melbourne Institute of Consumer Sentiment held onto its recent June gain. The overall sentiment index slipped marginally,
Trade Idea: EUR/GBP Buy
For the 3rd week in succession EUR/GBP posted net gains last week but the cross has yet to break .8636, the 16 week high trade.
Moving With The Wiggles
This morning’s Quarterly Survey of Business Opinion (QSBO) was solid. There were plenty of wiggles across the wide range of indicators in the survey.
NZIER Quarterly Survey of Business Opinion – QII 2013
The latest NZIER Quarterly Survey of Business Opinion showed that headline business confidence remained steady in QII, once seasonal variations were removed.
Global & Australian Forecasts
Global growth forecasts unchanged. A few signs that activity is picking up in some advanced economies but India and Brazil still soft and
NAB Business Survey
Business conditions and capacity utilisation slump to a four year low. Confidence a little better but still below trend.
Morning FX Market Commentary
Dollar nearing key resistance after strong US payrolls On Friday, the dollar jumped higher as a strong US payrolls report gave the UK currency additional interest rate support.
Employment Gain Signals Sustained Growth
Employment rose 195,000 with gains concentrated in the private service sector, as manufacturing and government jobs declined.
US Q2 employment growth more healthy than expected
• Average employment growth close to 200.000 in Q2 • Several positive details
Morning FX Market Commentary
Draghi and Carney guide euro and sterling lower. The ECB and the Bank of England give markets forward guidance (or prepare to do so).