Tag Archives: USD/CNY

Weekly Economic & Financial Commentary

U.S. Review More Evidence of a Tightening Labor Market • While small business confidence dipped in June,

USD stabilized against majors. EUR traded just above 1.36, while USDJPY again found support around 101.30.

Disappointing economic data from China and Eurozone and concerns over the banking sector in Portugal have weighed on market into the open.

The IDR was the big mover in Asia trading. USDIDR gapped lower on the open to 11513 before paring its gain to 11560,

The USD strengthened in mid-day trading in Asia. USDJPY edged higher to 101.6, AUDUSD dipped towards 0.939 and

G10 FX was mixed, with AUD rising to 0.938 on improvement in NAB business survey, while CAD continued to weaken by another 0.2%.

The USD started the week on a stronger footing as the US 10y yield opened 1.6bps higher to 2.656%.

The dollar has drifted against the major currencies with AUDUSD up a touch to 0.9360,

U.S. Review All the Rage is the Wage • Nonfarm payrolls sparked a few fireworks,

AUDUSD fell from 0.9435 to 0.9379 following RBA Governor Stevens’ statement that the AUD is significantly overvalued.

G10 FX markets drifted sideways with EURUSD at 1.3677 and USDJPY up marginally to 101.62.

The pro-cyclical theme saw the dollar’s weakness extend, predominantly to the benefit of AUDUSD,