All Articles Tagged - Fed

US retail sales rise the most in a year; dollar jumps higher

Posted on May 13, 2016 at 2:58 pm GMT

Retail sales in the United States grew at the fastest rate since March 2015 as consumer spending appeared to be rebounding in April following a slowdown in the first quarter. Monthly retail sales rose sharply by 1.3% in April versus estimates of a 0.8% increase and a rebound from the previous month’s 0.3% decline. On a 12-month basis, retail sales accelerated to 3.0% in April from 1.7% in March. Excluding volatile items such as motor vehicles and parts, retail sales [..]

Asian Session – Aussie drops after RBA rate cut; US dollar under pressure

Posted on May 3, 2016 at 8:02 am GMT

The Reserve Bank of Australia surprised markets with a rate cut while the US dollar continued to drop to multi-month lows against other major currencies during Tuesday’s Asian trading. The aussie dropped more than 1 cent versus the US dollar following the RBA’s announcement; from the 77 cents’ level down to below 76. The previous week’s weaker-than-expected inflation rate for the first quarter played a key part in the bank’s decision, as persistently low inflation in previous months as well [..]

European Session – Gold, oil hit fresh 2016 highs as dollar continues to slide

Posted on April 29, 2016 at 3:20 pm GMT

Commodities were bolstered on Friday from the weakening US dollar as soft consumer spending and inflation data reinforced expectations that the Federal Reserve will not be required to raise interest rates anytime soon. The dollar index, which measures the value of the US currency against a basket of currencies, hit an 8-month low and was down 0.7% at 93.09 in late European session. This helped crude oil to climb to fresh yearly highs, with US crude hitting $46.78 a barrel [..]

Week Ahead – PMI data and US NFP to dominate; RBA meeting also eyed

Posted on April 29, 2016 at 1:15 pm GMT

The coming week will be a busy one for PMI data as China and the UK will see the first and only PMI releases for April, while for the Eurozone and the US, the final readings are due. Also in focus next week is the non-farm payrolls report in the United States as well as the RBA’s scheduled policy meeting. China PMI expected to improve further Manufacturing activity in China has been on a downward trend since the middle of [..]

European Session – Dollar unmoved by weak GDP; Oil hits fresh 2016 high

Posted on April 28, 2016 at 2:11 pm GMT

The yen extended its gains at the start of European trading and was able to hold on to its gains in late session as traders digested the Bank of Japan’s surprise decision not to expand monetary stimulus contrary to market expectations. The dollar meanwhile was stuck near the day’s lows as weak GDP numbers confirmed that the US economy went through a soft patch in the first quarter. The greenback hit a low of 107.91 yen earlier in the European [..]

Asian Session – Yen surges after BoJ stands pat; kiwi also firmer but dollar slips

Posted on April 28, 2016 at 7:52 am GMT

The yen soared against other major currencies on Thursday after the Bank of Japan surprised markets by keeping monetary policy unchanged at its April meeting. Expectations had been building since last Friday that the Bank would announce fresh stimulus measures following reports that policymakers were considering broadening the use of negative interest rates. However, speaking at the press conference after the meeting, the Bank’s governor, Haruhiko Kuroda told reporters that the Bank is not thinking about applying negative rates to [..]

European Session – Major currencies seek direction from FOMC, BoJ; Oil retreats from 2016 highs

Posted on April 27, 2016 at 2:42 pm GMT

Trading was cautious in Wednesday’s European session as investors await the outcome of three central bank meetings due in the next 12 hours. The US Federal Reserve will be the first to announce its decision at 18:00 GMT and the dollar was struggling to find direction ahead of this key event. The greenback firmed against the yen during the course of the day but lost ground against the euro. Expectations that the Bank of Japan will announce some new measures [..]

European Session – Dollar weakness ahead of Fed pushes pound and euro higher

Posted on April 26, 2016 at 2:56 pm GMT

The US dollar was once again under pressure today, with its European session decline continuing into the US session open. Pre-FOMC positioning in the dollar have driven moves in the currency markets today. While no rate hike is expected, investors are nevertheless being cautious ahead of this key risk event on Wednesday. The euro and the pound outperformed, breaking important psychological levels. Sterling rallied to a more than 2-month high of $1.4637. Aside from the broadly weaker greenback, lending support [..]

US durable goods orders miss estimates; dollar dips

Posted on April 26, 2016 at 2:25 pm GMT

Durable goods orders in the United States rose by less than expected in March as orders for manufactured goods that are meant to last three years or more failed to rebound strongly from the February slump. The month-on-month measure of durable goods showed orders rising by 0.8% in March, missing consensus estimates of a 1.8% increase. Adding to the disappointing headline figure was a negative revision to February’s reading, which was revised down to -3.1% from -3.0%. March orders were [..]

Asian Session – Dollar steady, markets muted ahead of Fed and BoJ

Posted on April 26, 2016 at 7:40 am GMT

Major currencies were steady in today’s Asian session as trading turned cautious ahead of the FOMC meeting on Wednesday and the Bank of Japan meeting on Thursday. The US dollar was mostly flat against a basket of currencies but fell against the yen as investors speculated over whether the Bank of Japan will announce fresh stimulus measures at its April policy meeting. The Bank of Japan will likely consider easing monetary policy further at its two-day meeting and may have [..]

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