Forex News
Japan industrial production surprises to upside in May, heads toward another quarterly gain in Q2
Industrial production increased 2.0% m/m in May (April: 0.9%), surprising to the upside (Barclays: -0.2%; Bloomberg: 0.4%) and marking a fourth consecutive gain.
U.S. Personal Consumption Increased in May as Expected
• Personal consumption rose 0.3% in May 2013, which was in line with market expectations, and
Confidence in economy reaches 13-month high in euro area
Confidence in the Eurozone economy reached a 13-month high in June led by increased confidence amongst industry responders.
DE Jobless rate at 6.8% in June
The unemployment rate was unchanged at 6.8% in June remaining for the second month in a row near its lowest level in more than twenty years.
Morning FX Market Commentary
Euro fails to profit from easing global tensions On Wednesday, the downtrend of EUR/USD was extended even as global market tensions eased and as the global repositioning slowed.
Business Euphoria
RBNZ Deputy Governor, Grant Spencer, stuck to the Bank’s recent script in his speech this morning.
US First-Quarter 2013 GDP Growth Revised Lower
• The third estimate of US first-quarter 2013 annualized GDP growth was unexpectedly revised downward to 1.8% from a previously estimated 2.4%.
Morning FX Market Commentary
Dollar remains well bid on strong US eco data. On Tuesday, markets entered calmer waters as the tension in China eased and as the rise in US bond yields slowed.
Signs of Resilience in Business Spending
Back-to-back monthly gains in durable goods orders are inconsistent with other indicators of a slowing in business spending.
Morning FX Market Commentary
Dollar taking a breather as yield rise halts On Monday, the global repositioning initially continued. US bond yields jumped still higher, supporting the dollar.
June IFO survey up
In June the IFO business climate index increased for the second consecutive month, up from 105.7 in May to 105.9.
Morning FX Market Commentary
Dollar extends gains On Friday, the global repositioning slowed a bit, but the trend remained in place.