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November 7th, 2014

The U.S. dollar has had a great run over the past 3 weeks but now that Non-Farm Payrolls, the ECB, BoJ and FOMC rate decisions are behind us we see a 70% chance of a correction next week. When the Fed upgraded its assessment of the labor market, they set expectations for a very strong non-farm payrolls report and unfortunately Friday’s jobs number failed to impress, sending the dollar lower against all of the major currencies. The unemployment rate dropped to 5.8% from 5.9% but the U.S. economy added only 214k jobs compared to a forecast for 235k. While the miss was small and unlikely to delay the Fed’s plans for tightening, the greenback is extremely overbought and the lack of U.S. data next week should allow the do...

December 15th, 2014 - Market Drivers December 15, 2014 Abe wins a landslide but USD/JPY sold on news Tankan comes out mixed Nikkei -1.57% Europe 0.61% Oil $58/bbl Gold $1214/oz. Europe and Asia: JPY Tankan Manufacturing 12 vs. 13 JPY Tankan Non-Manufacturing 16 vs. 14 AUD MYEFO expands deficit projection t...

November 14th, 2014 - Market Drivers for November 14 2014 USD/JPY makes fresh highs as rumors of sales hike delay persist GE GDP better but FR Labor worse Nikkei 0.56% Europe .23% Oil $73/bbl Gold $1152/oz. Europe and Asia: EUR GE GDP 0.3% vs. 0.1% EUR FR NFP -0.2%< vs. 0.2% EUR GDP North America: ...

December 1st, 2014 - Market Drivers December 1, 2014 Moody's downgrades Japan A1 from AA3 USD/JPY drops nearly a figure EZ PMIs mixed UK PMI Nikkei 0.75% Europe -1.09% Oil $65/bbl Gold $1161/oz. Europe and Asia: CNY Final PMI 50 vs. 50 EZ Final PMI 50.1 vs. 50.4 UK Manufacturing PMI 53.5 vs. 53.1 UK Ne...

September 10th, 2012 - In the first week of September the European Central Bank lit the EUR/USD on fire with its latest acronym to save the euro – OMT, short for “Outright Monetary Transactions.” For most investors, OMT is just another ingredient in the central bank’s alphabet soup which already ...

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