The U.S. dollar starts this holiday-shortened week in broadly positive territory after sliding on in the wake of Friday’s uninspiring jobs report and dismal services sector ISM data. Overnight, a Wall Street Journal story reported that July’s European bank stress test failed to paint an accurate picture of the holdings of many large banks in [...]
Author Archives: omere
Dollar Initially Firms on Better Than Forecast Jobs Report
The U.S. dollar winds down a busy week on the defensive ahead of key employment data for August that is likely to be instrumental in shaping the market’s outlook for the U.S. recovery, Fed monetary policy and the greenback. The scaling back of temporary census workers is likely to have resulted in a decline of [...]
Dollar Mixed Ahead of Tomorrow’s Payrolls Data
The U.S. dollar was mixed in overnight trade ahead of key jobs figures tomorrow that could set the market’s tone for the weeks ahead. Yesterday’s ADP employment report showed the first decline in private sector job growth last month since April. While the ADP data and broader non-farm payrolls report due out tomorrow have had [...]
USD Slides on Sharp Rise in Risk Appetite, Soft U.S. Jobs Data.
The U.S. dollar fell against most of its major counterparts overnight after a rebound in risk appetite lured wary investors out of the relative safety of USD-denominated assets. Surging stocks and generally firmer commodities signaled an improving mood throughout global markets, which tends to benefit higher yielding and riskier assets. Still, with a deluge of [...]
JPY, CHF Soar in Broad Flight to Safety
The U.S. dollar put in a generally mixed performance overnight, holding steady against the euro, firming versus higher risk currencies like the Aussie, but tumbling against the Swiss franc and Japanese yen. Sharply lower global stocks were a clear indication of investors’ mounting concern about the global economic outlook. Disappointing data recently from the U.S. [...]
USD Steady Ahead of Busy Week, Yen Shrugs Off BOJ Moves
The U.S. dollar held steady against most of its major rivals ahead of an extremely busy economic calendar week that includes key readings of U.S. consumer confidence, home prices, manufacturing and services sector activity and the all important payrolls data on Friday. Another batch of disappointing economic news, especially with regard to America’s struggling jobs [...]
USD Largely Steady Ahead of Bernanke, GDP
The U.S. dollar was hemmed within largely familiar ranges in generally quiet overnight trade. Investors were hesitant to push major currency pairs far from recent ranges ahead of an expected downward revision to U.S. second quarter growth and a much anticipated speech by Fed Chairman Ben Bernanke. Recent downside surprises to U.S. data suggest that [...]
USD Eases in Quiet Trade, Mood Improves
The U.S. dollar succumbed to a bout of profit taking overnight as profit taking on its recent gains drove its direction in generally quiet overnight trade. Bargain hunters pushed Asian and European share prices mildly higher, which revived some nascent appetite for riskier investments. Investors, who had sought refuge from an increasingly uncertain global outlook [...]
USD Softer After Weak Durables Data
The U.S. dollar opens in familiar territory near the upper end of its recent ranges this morning, having recovered from yesterday’s selloff in the wake of dismal existing home sales data for July. The dollar yesterday gave up some of its recent gains after a record decline in existing home sales fanned worries that the [...]
Dollar at 1-mo Peaks Amid Broad Pullback in Risk, JPY Soars
The U.S. dollar rose to a new one-month trade-weighted peak overnight as mounting worries about the sustainability of the global recovery weighed on stocks and commodities and revived demand for safer investments like the U.S. dollar. The greenback, along with the Japanese yen and Swiss franc, traditional safe harbors during periods of economic uncertainty, have [...]