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Article / Yesterday at 15:45 GMTThe US dollar is ending the week on a strong note ahead of the Memorial Day long weekend.Read the article
Article / Yesterday at 15:00 GMT
WCU: King Dollar reigns over commoditiesCommodities 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.Read the article
Article / Yesterday at 14:19 GMT
FX Board: USD storming stronger across the boardThe 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.Read the article
Saxo TV / Yesterday at 14:08 GMT
Hardy: Dollar reaction to US CPI highlights market sensitivityJohn J HardyThe dollar is on the rise after US inflation data out on Friday showed core inflation rose 0.3% in April, more than the 0.2% expected. Saxo Bank’s John Hardy says the reaction to the US CPI data highlights how sensitive markets are as they look for a sense of direction for the dollar.
Calendar event / Yesterday at 12:30 GMT
CA CPIpreviousforecastactualMed All Items CPI (Cur Month)+0.7%-0.1%Med All Items CPI (Cur Year)+1.2%+1%+0.8%Med Core CPI (Cur Month)+0.6%+0.1%Med Core CPI (Cur Year)+2.4%
Article / Yesterday at 10:00 GMT
Russian economy not ticking all the boxesStatistical data give contradictory signals about the state of Russia's economy, but if one pays attention to the production of cardboard boxes (as Alan Greenspan advised), Russia appears to be in deep trouble.Read the article
Squawk / Yesterday at 8:09 GMTGerman 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.
Article / Yesterday at 7:44 GMT
FX Update: USD stuck in a rut ahead of US CPI dataThe USD rally couldn’t find any fresh fuel yesterday and overnight, as the market looks toward today’s US CPI release for inspiration. The Bank of Japan meeting saw a mild upgrade to the rhetoric describing the economy, and drove a modest JPY rally.Read the article
Squawk / Yesterday at 7:39 GMTFrench 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: https://goo.gl/0IVdLN
Article / Yesterday at 7:00 GMT
Morning Markets: Draghi ready to fightEuropean 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.Read the article