Fundamental Analysis

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    April 09 2013 12:25 PM

    The USD remains broadly weaker against the majors on the back of last week’s disappointing jobs data which raised concerns that the pace of recovery in the American labor market has slowed down. Fed policy remains driven by the outlook for the US labor market, giving forward guidance on interest rates and setting the pace of QE. Focus has now turned to US earnings, the release of the FOMC’s minutes and the US budget tomorrow.

  • Weekly Summary on USD, EUR, JPY, GBP, AUD, CAD and RMBWeekly Summary on USD, EUR, JPY, GBP, AUD, CAD and RMB

    April 08 2013 1:17 PM

    The US dollar is mixed against most major currencies as EUR regains its footing and after JPY breaks record lows. In March, the market was rather optimistic over the US economy as the dollar index DXY reached 83.22, its highest levels in almost seven months. However, since the recent release of meager ISM readings combined with the lowest number of jobs created in nine months, it’s safe to say the USD has been more subdued this past week. With little news until Thursday, the market will be reactive to headline events abroad as to gauge the direction of the greenback. Otherwise, the USD looks to trade quite muted ahead of the Redbook index on Thursday and Producer Price index this Friday where inflation is forecasted to reach 1.9% in March from 1.7% prior. Analysts are closely watching PPI levels this week to speculate when the Fed's bond-buying stimulus will draw closer to an end.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    April 05 2013 12:35 PM

    Dollar slides after jobs data disappoints - GBP soars to 6-week highs after U.S. jobs data is released - German industrial orders jump, lending strength to the euro

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    April 03 2013 1:59 PM

    ADP report shows disappointing job growth – markets await U.S. non-farm payrolls data on Friday - Markets await Central Bank meeting outcomes on Thursday - Canadian dollar holds near 6-week highs

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    April 02 2013 12:42 PM

    The US dollar is mixed this morning as global markets reopen following the Easter holidays. New orders for U.S. factory goods rose in February but a gauge of planned business spending slipped, suggesting factory activity continued to expand at a modest pace. The U.S. Commerce Department said orders for manufactured goods climbed 3.0%, mostly boosted by the aircraft industry. U.S. housing agency, Fannie Mae reported profits of $17.2 billion for its recent fiscal year, lending credence to a recovering housing market. Investors will remain focused on the outcomes of Central Bank meetings in the U.K., euro zone and Japan for the remainder of the week. U.S. non-farm payrolls data is also under the microscope for Friday, as analysts continue to seek signs of a US recovery.

  • Weekly Summary on USD, EUR, JPY, GBP, AUD, CAD and RMBWeekly Summary on USD, EUR, JPY, GBP, AUD, CAD and RMB

    April 01 2013 2:26 PM

    The US dollar is trading slightly lower, a move showing market participants have reduced concerns over the Eurozone crisis from last week. As such, the dollar index is down 0.3% and gold prices lowered 0.02% from last week’s close. Domestically, US factory activity decelerated in March as new orders weakened, but a rebound in construction spending in February showed a sign of better economic growth in the first quarter. The Institute for Supply Management’s factory index fell to 51.3 in March from 54.2 a month earlier. Construction spending in the US rose in February, paced by the highest level of home building in more than four years.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 29 2013 4:02 PM

    USD held steady across the board as equity markets close for Good Friday - EUR hovered around four-month lows as Cyprus’ bank bailouts strip confidence - Commodity currencies flattened but remained under pressure as Cyprus and Italy continues to hold the spotlight

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 28 2013 12:36 PM

    USD slid against most majors with the exception of commodity currencies - EUR rebounded from a four-month low despite the tighter controls in Cyprus banks - Commodity currencies loss some ground as the AUD weakened while CAD and NZD held steady against the USD

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 27 2013 12:52 PM

    USD strengthened across the board as Cyprus’ banks announce capital controls - EUR slipped to its lowest level in four months ahead of the reopening of Cyprus banks - Commodity currencies fell as assets and gold prices gained from safe-haven flows

  • Weekly Summary on USD, EUR, JPY, GBP, AUD, CAD and RMB

    March 25 2013 1:57 PM

    The US dollar is higher against the EUR GBP and JPY but lower against the emerging and commodity currencies after a deal was struck between Cyprus and European leaders to support the Cypriot financial sector. Domestically, the Dallas Fed factory activity index reported its strongest reading in a year at 7.4 in March vs. a prior 6.2, indicating a slightly faster pace of output growth. The pickup in manufacturing activity, most notably new orders and shipments indexes, moved up strongly in March after dipping in February.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 22 2013 12:58 PM

    USD weakened further as QE is expected to begin tapering off - JPY strengthened against the USD as economists forecast better manufacturers’ sentiment - Commodity currencies strengthened after better than expected GDP data from NZD

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 19 2013 1:18 PM

    • USD is broadly stronger on renewed European debt crisis • GBP fell back against the USD as UK inflation rose to a nine-month high • Commodity currencies fell as investors move towards safe haven assets

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 15 2013 1:28 PM

    • USD weak after lower than expected manufacturing data. • EUR strengthens inflation data came in as expected. • GBP strengthens after BoE chief comments on the currency.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 14 2013 4:13 PM

    - USD stronger with robust economic data - EUR weak after unemployment figures - Commodity currencies stronger after Australia employment data

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 13 2013 1:16 PM

    - USD strong against most majors as strong retail data boosts economic outlook. - EUR weak against USD after Italian bond auction showed less demand. - Commodities remain flat against the USD as investors await the RBNZ’s rate decision.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 12 2013 12:22 PM

    - GBP slips to near 3-year lows vs. USD on the back of dismal manufacturing data - Rally in U.S. equities pauses, but positive trend seems stable - JPY recovers from 3 ½ year low against USD on profit taking move

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and RMBDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and RMB

    March 11 2013 1:07 PM

    - USD stronger against most majors after stronger than expected employment data. - JPY at a 3-½ year low with new data showing a challenged environment - RMB weaker against the USD, mixed economic data in China.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 08 2013 12:03 PM

    • USD is stronger against most major currencies as nonfarm payrolls and unemployment beat expectations. • EUR fell against the USD and hovers around 3-month lows. • Commodity currencies are mixed with stronger employment data for CAD and weak trade numbers for AUD.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZDDaily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 07 2013 1:01 PM

    USD is mixed after central bank rates abroad remained unchanged - EUR is stronger after ECB President Draghi gave no hints of further easing in rates - JPY reached its weakest point since August, 2009 against the USD

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    March 06 2013 1:21 PM

    USD is broadly stronger ahead of three central bank meetings: BoE, BoJ and ECB - EUR fell against the USD on debates the ECB may hint at a future loosening policy - Commodity currencies benefited from improved risk appetite as the Dow average hit new heights