On July 30th the Bureau of Economic Analysis (‘BEA’) released its “advance” estimate of the annualized growth rate of the U.S. Gross Domestic Product (‘GDP’) during the 2nd quarter of 2010. Per their …

The end of July has traders on edge after a month of remarkable weakness for the dollar, while they cautiously await August PMI data due next week for the latest health check on …

The U.S. dollar index reached its lowest point in three months as differences in the pace of recovery between the U.S. and the Eurozone rise to the surface. The latest evidence shows growing …

Shifts in the gold price may provide a leading indicator of what happens next.
Headlines
Japan: As expected, retail sales rose 3.2% year-on-year in June after a 2.9% gain in May and a 4.9% increase …

The RBNZ (Reserve Bank of New Zealand) increased the official cash rate at its July meeting 25bps to 3.00%, and signaled that further rate rises will likely be on the go-slow. It noted …

The euro stayed within reach of an 11-week high versus the dollar today (July 28th), following solid economic data and bank earnings.
Reuters reports the currency remained close to the $1.3045 (83p) in Forex trading …

US durable goods orders fell -1.0% m/m in June from a revised -0.8% m/m in May, on consensus expectations of +1.0%.  Durable goods ex-transportation fell -0.6% m/m in June from a revised +1.2% …

A certain amount of regrouping appears to be underway as investors try to size-up the risks to the growing theme that world growth continues albeit modestly. That’s the glass half-full version of what …

GBP continues to enjoy the summer months. Will autumn prove as kind?
Headlines
Australia: The core ‘trimmed mean’ CPI rose 0.5% q/q in Q2 to bring the annual rate of increase to 2.7% and hence below the …

A lot of people have asked me to write about the recently “leaked” CBRC report on dodgy local government debt.  Here is what the article in Monday’s Bloomberg had to say about it (and note …

The Conference Board’s index of US consumer confidence fell to 50.4 in July from a revised 54.3 in June, on consensus expectations of 51.0.  Upward historical revisions fully offset the headline disappointment, with June revised …

A clean bill of health for European banks hitched to a caravan of love for U.S. corporate earnings has caused a seismic shift in risk appetite in turn boosting the value of higher yielding assets. …

EURUSD
Trading strategy: small long at 1.2960, stop at 1.2880(0.5% risk), 1st objective at 1.3010, 2nd objective at 1.3100
Fresh upside targets are in focus as the euro climbed higher yesterday and managed to stabilize around the …

The USD closed at session lows as global bourses rallied following the release of benign European bank stress test results and stronger than expected US housing data. In a late-July, Monday session characterized by a …

India’s rupee is now in an exclusive club – it joins Japan, Britain, the European Union and the U.S. as the only currencies to have globally recognized symbols.
The new symbol, shown in the picture, came …

With the weekend cushion behind the European banking stress test results the euro is treading water to start the new trading week. The response to the tests has been remarkably calm with reaction centered on …

There are two ways to take the words of the Fed Chairman. You can join the crowd of Chicken Littles running through the streets screaming that the sky really is about to fall. Or, you …

The beleaguered US dollar derived some support in the immediate aftermath of Mr Bernanke’s testimony in the afternoon as hopes of any additional monetary stimulus were dashed and plans for an eventual exit strategy were …

The euro has remained near to the dollar today (July 21st), after achieving close to a ten-week high.
Reuters reports the currency was supported in Forex trading by strong US corporate earnings that also boosted global …

Earlier in the week investor fears about the prospects for a double-dip recession appear to be vanishing into thin air as the week draws to a close. The euro’s rejuvenation continues after the ECB President …