A relentless squeeze in JPY and Swiss Franc has driven both currencies to overbought levels last seen at the end of 2009. With key BoJ and SNB meetings scheduled over the next two weeks, this begs the question if profit taking and a trend reversal in J…
Following a wall of discouraging data recently things turned more upbeat this week, as we received positive surprises from both the US and China coupled with a continued flow of solid eurozone data. There is little doubt that the US remains in a slowdo…
USDJPY: The pair continues to retain its broader downside bias as it looks to recapture its YTD low at 83.58 despite its price hesitation. A breach of there will open the door for more downside towards the 82.00 level, its psycho level with a cut throu…
The US Non-farm employment data posted better than expected results and revisions to the markets delight. As a result, we saw improved risk appetite. Expectations were for an overall loss of over 100,000 jobs and an increase in the private sector by 42…
The US ISM non-manufacturing report should be considered the premiere survey of US business conditions as it covers the US services industries, which represent some 70% of the US economy. Today’s report for August was very negative, at a barely expansi…
The ISM non-manufacturing index indicated that the sector grew for the eighth consecutive month, although the pace of expansion slowed more than was expected, as shown by the index dropping to 51.5 in August from 54.3 in July (a reading above 50 indica…
Payroll employment in August fell 54,000 in the month, which was about one-half of the 103,000 decline expected going into the report. Greater than expected strength in labour markets was also reflected in declines in earlier months being revised lower…
Total nonfarm payrolls declined by 54k in August, dragged down by a 114k decline in census employment. Excluding census, nonfarm payrolls increased by 60k and private employment gained 67k. On top of this, net revisions to June and July amount to +123k…
The dollar gained sharply against the yen Friday after better-than-expected U.S. jobs figures soothed investor nerves that had been jangled by worries over the pace of the U.S. recovery. Currencies closely tied to the pace of global growth, such as the…
The forex market remained relatively calm this week. Whereas EUR-USD rose to over 1.28, the European single currency fell slightly against the Swedish krona, the Swiss franc and the yen, and also versus “commodity currencies” such as NOK, AUD, BRL and …
