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  • Article / 12 hours ago

    FX Noon: Safety in numbers

    Director / Accumen Management
    United Kingdom
    FX Noon: Safety in numbers
    Today's session has seen the USD extend its gains, particularly against the yen. The dollar rally, however, remains hugely dependent on bullish data so the release of the latest US GDP print on Friday looms large in the distance.
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  • Squawk / Yesterday at 12:47 GMT
    Head of Macro Strategy / Saxo Bank
    Solid US durable goods orders for April:

    A change in durable goods orders of -0.5% m/m for April does not sound very good, but beneath the headline - which was in line with expectations while March was revised to 5.1% from 4% - the numbers are better than expected. Durable goods orders outside the volatile transportation sector rose 0.5% vs. 0.3% expected in April while March was revised from -0.2% to 0.6%.

    Capital goods orders - a proxy for future investment spending in the GDP accounts - rose 1% vs. 0.3% expected while capital goods shipments - a proxy for present investment spending - rose 0.8% vs. 0.3% expected. Both were revised higher for March to 1.5% and 1% from -0.5% and -0.4% respectively.

    Despite the large upward revisions to March and generally better-than-expected figures for April, durable goods orders remain weak. Orders are down 6.8% in the last six months compared to the previous six, and flat 3m/3m. And it is the same when you exclude transportation at -2.8% ...
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    Mads Koefoed Mads Koefoed
    ... -1.5% respectively.

    Therefore the outlook for present quarter GDP growth remains muted based on available monthly indicators and we need to see a pick-up in data in...
    Mads Koefoed Mads Koefoed
    US house prices rose 1% in March according to the Case-Shiller 20-city composite index. This implies an (unchanged) annual rate of growth in house prices of 5%...
    Mads Koefoed Mads Koefoed
    US Services PMI prints 56.4 in May according to Markit's preliminary estimate vs. 56.5 expected and 57.4. The composite PMI hits 56.1 vs. 57 a month ago....
  • Calendar event / Yesterday at 9:30 GMT

    ZA GDP

    Low GDP, Q/Q
  • Calendar event / Yesterday at 0:00 GMT

    SG GDP

    Low Yrly % Chg - Final
    Low Yrly % Chg Advance Estimate
    Low Full Year % Chg - Final
    Low Full Year % Chg Advance Estimate
    Low Annualized Qtrly % Chg - Final
    Low Annualized Qtrly % Chg Advance Estimate
  • Article / Monday at 1:31 GMT

    Greece's half-baked solutions no longer palatable

    Managing Partner / Spotlight Group
    United Kingdom
    Greece's half-baked solutions no longer palatable
    Greece desperately needs to strike a deal with its creditors otherwise it will not be able to make its debt repayment to the International Monetary Fund in June. The country needs leaders who will stop whining that they are being denied access to both the bond markets and their bailout aid. They have only themselves to blame when it comes to the stalled bailout program.
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    fxtime fxtime
    Sadly the disfunctional political powers of the EEC and ECB will mean a capitulation of sorts whereby the 7billion euro will be passed onto the Greek economy...
  • Article / Sunday at 23:28 GMT

    KVP's Macro Take: Needing a fix from the VIX

    Asia Macro Strategist / Saxo Capital Markets
    KVP's Macro Take: Needing a fix from the VIX
    This week is light on economic and central bank news but Greece remains in the spotlight. Talk is now moving on from Greece wanting to exit the Eurozone to the Eurozone and its members thinking perhaps they should just kick it out. Meanwhile, I'm not overly excited about volatility in Europe yet but after it touched a year-to-date low on Friday, it's worth some attention.
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    usdjpy 125
  • 5d
    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...