Category: Forex News

US Consumer Confidence beats at 95.9

US consumer confidence came out better than expected at 95.9 points in the preliminary read for April, already in Q2, after the dreaded Q1. A second US beat in the same day. Does this change everything, or just a bit?

The US dollar is slightly strong, and still hesitating. EUR/USD is trading at 1.0762, just a few pips lower than before the publication, but this is short-lived.

Read the rest of the article US Consumer Confidence beats at 95.9
Canadian data beats – USD/CAD crashes below 1.21

Canadian data beats – USD/CAD crashes below 1.21

Canada rocks: retail sales jumped by 1.7% in March, much better than 0.5% expected. Sales excluding autos are up 2%, also far better than 0.5% predicted. Inflation data also shines: 1.2% y/y in the headline number, better than a flat 0% estimated and core inflation rises from 2% to 2.4% y/y. Month over month, rises of

US core inflation ticks up to 1.8% – USD is on fire

US core inflation ticks up to 1.8% – USD is on fire

Headline inflation is down to -0.1% – deflation territory, but it has been there before, due to oil prices. Core inflation, which the Fed eyes more closely, is up to 1.8% y/y, better than expected. Month over month, both rose 0.2% as expected. The dollar remains unimpressed: it is rising only a bit in the

Euro-zone deflation unchanged at -0.1%

Euro-zone deflation unchanged at -0.1%

No surprises in the final CPI numbers for March: CPI stands at -0.1% y/y and core CPI at +0.6%. This confirms the preliminary read and came out as expected. EUR/USD continues its journey north, riding on USD weakness, trading at 1.0822. The euro-zone was expected to confirm the initial numbers for March: a lower deflation rate.

UK jobs data misses by a bit but GBP/USD eventually tops 1.50

UK jobs data misses by a bit but GBP/USD eventually tops 1.50

The UK saw 20.7K less people claiming for jobs, slightly worse than expected but nothing dramatic. The unemployment rate dropped to 5.6% as expected and the average earnings rate rose by 1.7%, slightly below 1.8% expected, but ex-bonuses it rose 1.8%. All in all, this is a small miss. Perhaps this is enough to take

EUR/USD – potential for a severe break out later in the year – SocGen

EUR/USD – potential for a severe break out later in the year – SocGen

EUR/USD is trading in a wide range, and that is set to continue according to SocGen. And what happens afterwards? The markets aren’t pricing everything. Here is what’s next for the pair: Here is their view, courtesy of eFXnews: In its weekly note to clients, SocGen discusses the duration of  EUR/USD cycles and its potential implication on

Philly Fed beats with 7.5  – finally a spring bounce?

Philly Fed beats with 7.5 – finally a spring bounce?

The Philly Fed ends a long run of losing US figures this week. It hit 7.5 points in April, better than 6.5 expected. The Employment component reached 11.5 vs 3. This is also somewhat encouraging towards the next jobs report, but is only a fraction of the overall economy. The US dollar is hesitant. Update: we are beginning to see

Loonie Leaps Higher

Loonie Leaps Higher

The Canadian dollar is trading at its highest levels in more than three months following yesterday’s Bank of Canada policy meeting. Chairman Poloz and company took a more hawkish turn with this quarter’s Monetary Policy Report as the market keyed in on comments that the recent oil shock would dissolve sometime in the second half

US housing and jobs data falls short – USD extends falls

US housing and jobs data falls short – USD extends falls

The US dollar bulls are hit once again by weak data: jobless claims rose to 294K, building permits came out at 1.04 million (1.08 exp.) and housing starts hardly recovered with 0.93 million (1.05 exp.). Revisions to previous figures were minimal. This is the third consecutive day of disappointments. The greenback slides: EUR/USD is up

AUD/USD leaps on excellent Australian obs data

AUD/USD leaps on excellent Australian obs data

Australia gained no less than 37.7K jobs in March, far better than a rise of 15K predicted. The unemployment rate also beat expectations with a drop to 6.1%. It was expected to stand at 6.3%, so this is quite a positive surprise. Last but not least, February’s data received a significant upwards revision. And currencies