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  • Article / Yesterday at 15:00 GMT

    WCU: King Dollar reigns over commodities

    Head of Commodity Strategy / Saxo Bank
    WCU: King Dollar reigns over commodities
    Commodities took a hit this week as the US dollar recovered from its recent slump. While sector-specific news continues to provide an array of economic, geopolitical and climactic drivers, King Dollar remains in the drivers seat with USD levels providing the overall direction for commodities across the board.
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  • Article / Yesterday at 14:19 GMT

    FX Board: USD storming stronger across the board

    Head of FX Strategy / Saxo Bank
    FX Board: USD storming stronger across the board
    The USD is raging to the upside after a higher than expected core US CPI reading for April and as traders were caught sleeping ahead of a three-day weekend. This is a promising signal for the USD bulls that the dollar's rally is set to fully re-engage next week, even if a number of key lines have yet to be crossed.
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  • Calendar event / Yesterday at 12:30 GMT

    CA CPI

    Med All Items CPI (Cur Month)
    Med All Items CPI (Cur Year)
    Med Core CPI (Cur Month)
    Med Core CPI (Cur Year)
  • 1d
    fxtime fxtime
    As always a great analysis thx for posting.

    LOL I like the reference to cardboard boxes LOL when I studied economics many many years ago there was also...
  • Squawk / Yesterday at 8:09 GMT
    Head of Macro Strategy / Saxo Bank
    German IFO unchanged in May:

    A rather unexciting May IFO report out of Germany this morning shows unchanged confidence compared to April. The headline business climate index printed 108.5 vs. 108.3 expected and 108.6 prior helped by a gain in the current assessment index. This index rose to 114.3 from 114 while the more important (forward-looking) expectations index dropped to 103 from 103.4 as expected.

    A reading of 108.5 in the IFO business climate has historically been consistent with growth of more than 2 percent, but the euro area's largest economy only managed half that (1 percent) in Q1 compared to a year earlier. The annual growth rate is, however, expected to move higher and could well hit 2 percent in 2H'2015.
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  • Squawk / Yesterday at 7:39 GMT
    Head of Macro Strategy / Saxo Bank
    French manufacturing confidence hits 46-month high in May:

    Buoyed by lower oil prices and a weak euro confidence among French manufacturers rose another point in May on top of the three gained in April (following an upward revision to 102 from 101). This implies a manufacturing confidence index of 103, the highest since July 2011. Consensus had only looked for a print of 101.

    The broader business confidence index also rose a point to 97 as expected. Services sector confidence rose three points to 95 while retailers saw a two-point increase to 106 and construction confidence gained a single point to 89.

    Another survey index, the composite PMI, printed 51 in May (and 50.8 for Apr-May on average vs. 51 in Q1) confirms the improved sentiment in France. However, the 0.6% Q1 GDP increase may be hard to reproduce this quarter, and our longer-term view for the French economy remains one of moderate growth:
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  • Article / Yesterday at 7:00 GMT

    Morning Markets: Draghi ready to fight

    Managing editor, / Saxo Bank
    Morning Markets: Draghi ready to fight
    European Central Bank president Mario Draghi may well come out swinging this morning after the US Fed's Stanley Fischer could not resist a swipe at the whole euro project last night. Expect potential EURUSD fireworks if the language gets tasty.
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    Martin O'Rourke Martin O'Rourke
    The US CPI number out at 1230 GMT is undoubtedly weighing on EURUSD after posting a 0.1% rise and giving some ballast to the dollar after a...
    Martin O'Rourke Martin O'Rourke
    1.1000 now looks like the line in the sand for EURUSD. The intraday low was at 1.10226. The pivotal pair currently resides in the 1.1035 area at...
    Juhani Huopainen Juhani Huopainen
    Had to take a nap, or rather, the nap took me. " I see downside for the EURUSD...I share John J Hardy’s view that 1.12 and 1.13...