Economic sentiment for the Euro-Zone slipped to its lowest level on record as the index plunged to 80.4 from a revised reading of 87.5 in September. A deeper look at the report showed that consumer confidence fell to -24 from -19, while sentiment among businesses declined to -1.34 from a…
The yen will tend to weaken if the Bank of Japan takes action on interest rates and the Finance Ministry signals that it will take action to curb yen gains. The dollar initially slipped after the FOMC decision and settled near 97.00 against the yen as Wall Street dipped in…
The Usd may advance today on the higher interest rates that the U.S. economy now has to deal with, at least in early trade. The Federal Reserve may have cut the overnight lending rate to 1% on Wednesday, but that has done nothing to impact the two main U.S. rates…
Overall, the dollar weakened in the overnight session, a move that started after the Fed cut the overnight interest rate. With the Japanese yen being the only exception, which weakened in response to strong U.S. Futures, the major currencies advanced against the dollar, shedding some of the declines experienced during…
The Euro’s recent bullish momentum was stalled after it reached as high as 1.3300 ending a 900 pip rally, despite German unemployment falling for a fifth straight month as the number of unemployed dropped by 26,000. Yet the lagging indicator was overshadowed by a drop in retail consumption as the…
The Dollar posted a large fall on Wednesday, with the Federal Reserve delivering an interest-rate cut, easing investor concern about the world economy and reducing the need to repatriate Dollars from riskier markets. On another hand, the Yen and the Swiss franc rose against the Dollar as market sentiment remained…
In Currencies: The appetite for risk resurfaced in Asia as evident by the surge in the Far East equities and firmer Carry-related pairs. USD remained closely tied to the performance of equity markets as higher equity prices viewed as a USD and JPY negative. The Nikkei spiked higher by over…
Euro-Zone EUC economic sentiment dropped 80.4 from 87.5 in September, the sharpest decline since the start of the survey. Our median was 85.8 and the much lower than expected reading will add to arguments for another 50 bp cut from the ECB next week, especially as inflation is coming down…
Consumer confidence in the Euro-area fell to -24, more than expected. The index is just just a few points above the bottom reached in early 2003. The last time the euro-area consumer confidence report was above the zero benchmark, pointing to an optimistic feeling among consumers, was at the end…
The Usd was significantly weaker in the Asian session, as regional equity markets rallied and risk aversion eased. The EurUsd rallied from 1.2820 to 1.3297, while the UsdJpy traded up from 96.45 to 99.13.