For most of Asian trading the USD consolidated its gains, however in the early hours of European trading risk appetite started to improve. The primary catalyst was the unexpectedly strong German Q1 GDP data which printed at 1.5% q/q vs 0.9% exp, 0.4% prior; 5.2% y/y 4.5% exp, 4.0% prior (French data was also good). [...]
4:49pm EDT * Report Greece considering leaving FX bloc hits euro * Greece denial of euro zone exit has little impact * Commodities, high-yielders in clearing-out process * U.S. jobs report boosts dollar/yen (Recasts lede) By Gertrude Chavez-Dreyfuss NEW YORK, May 6 (Reuters) – The euro on Friday posted its biggest weekly loss against the [...]
Eurozone producer prices rose more than expected in January, driven higher by energy and food according to , Eurostat. The 1.5% monthly increase in PPI left prices 6.1% higher on the year, the largest annual rise since October 2008. Energy prices rose 3.2% m/m in January and were 12.5% higher than a year earlier. Excluding [...]
Europe is Moving in Different Directions The euro made new high this week, the highest since late November. Ten year yields have fallen 10-25 basis points in Greece, Portugal and Spain. The rally in the periphery is generating some positive momentum for the Euro. It seems that Germany is balking at boosting the size of [...]
The European stress tests are now behind us and unfortunately they failed to be the buzz kill or euphoric event that was needed to break the EUR/USD out of its recent trading range. The goal of the stress tests was to restore confidence in the European banking sector, but based upon the price action in [...]