Forex headlines for July 28, 2014: US June pending home sales -1.1% m/m vs +0.5% expected July 2014 US Markit services PMI flash 61.0 vs 59.8 exp White House pleged new sanctions against Russia this week Bank of Israel unexpectedly … Continue reading
Markets have been ho-hum today but it’s a big week and two of the main events are GDP and the FOMC meeting. The main story with GDP (as always) is the estimate on growth but Jon Hilsenrath explains that annual … Continue reading
GBP/USD has declined for 8 consecutive days and is closing in on #9. Cable started the day at 1.6975 and is trading at 1.6981 after rising as high as 1.7001. The next level to watch is the late-June low of … Continue reading
Some of the chatter about the Fed meeting this week is beginning to do the rounds and there’s a strong consensus: The Fed isn’t going to do anything. JPMorgan says it will be “uneventful” BAML sees a “no news” meeting … Continue reading
Argentina faces default on Thursday at midnight if the government and vulture funds from the 2001 default don’t reach a deal. At this point, the sides aren’t even directly talking and virtually no expects a deal through mediators before time … Continue reading
For 3-4 days after the Malaysian Airlines crash the White House gave Russia an opening to de-escalate the crisis. At first Russia was quiet and then grew defiant. The US has heard the message loud and clear. It signals that … Continue reading
US 10-year yields are at the highs of the day at 2.49% as sentiment continues to improve. That’s helping to lift the US dollar and USD/JPY has just hit 101.87% from as low as 101.76. The Asian high was 101.91.
In an usual event, the Australian dollar was the top performer last week while the kiwi lagged. The pair is also the best performer today as it hovers near last week’s highs. The trouble for this pair is that after … Continue reading
White House adviser Blinken says the US will take action this week on new sanctions against Russia, according to a Reuters headline. Others have hinted at this but it still puts some headline risk into the market for whenever the … Continue reading
Results of the 2-year Treasury note auction. Highest since May 2011 The when-issued bid was 0.545% $29 billion sold No biggie but rising Fed expectations are definitely creeping into the front end and putting a big flattener on the curve.