The Japanese Yen is ultimate cross pair in the last 24 hours. It is the Asian markets that drive these things. Who knew? Also, where the are big USA Dollar and Euro trades? It seems no one wants to touch due to credibility. The same could be same for Great British Pound not being traded due to lack of clarity in the British parliament over Brexit. Who knew?
Get Analytics on Forex and Crypto in a non technical way
The USD lost more ground last week extending its drop from the early October. Interestingly its latest drop has occurred despite an uptick in risk aversion suggesting other factors are at work. Mixed US data and earnings have not given the USD much direction with a downbeat Beige Book counterbalanced by a firmer Philly Fed and housing starts.
The data have not been sufficiently weak to fuel expectations of more Fed quantitative easing but some Fed officials including Yellen, Tarullo, Evans and Rosengren in indicating that further QE could be considered. The USD has therefore been somewhat undermined but will take its cue from data releases and events in Europe this week.
This data slate will be mixed but on balance will not support more Fed QE. In particular, Q3 Real GDP is expected to come in sharply higher than in Q2, with a 2.5% annual rate expected to be revealed. Other indicators will be less positive, with October consumer confidence set to slip further and remain at a recessionary level, while September durable goods orders will decline by around 1%.
Please click on the link below to read more…
USD, EUR, JPY Outlook This Week econometer.org
The USD lost more ground last week extending its drop from the early October. Interestingly its latest drop has occurred despite an uptick in risk aversion suggesting other factors are at work. Mix…
as always a game a few companies playing around wit the rest of the world, to get richer and richer