The Non Farm Payrolls disappointed with a weak headline number, negative revisions and mostly painfully no monthly change in wages. This puts the y/y change at only 2% after the breakout we had last time. With no wage inflation, there is no real rise in core inflation which the Fed cares about. Nevertheless, and assuming … “Analysis: NFP risks second rate hike, not the first in”
Month: July 2015
GBP/USD: Trading the British Services PMI Jul. 2015
The British Services PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the services sector. Of the three British PMI reports, Services PMI is considered the most important. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Friday … “GBP/USD: Trading the British Services PMI Jul. 2015”
O’ Canada, US Dollar Going Up Up and Away!
With Canada in celebration mode, the US dollar is going up up and away. The US dollar has gained a lot of momentum driven by the Greece powder keg, while the Canadian dollar is pressured by falling oil prices today. The uncertainty over Greece, lackluster Canadian GDP, falling oil prices, has all created a perfect … “O’ Canada, US Dollar Going Up Up and Away!”
Greece Risks Contained But Euro Still To Go Lower – BTMU
Greek talks are now officially on hold until the Greferendum on Sunday. The Eurogroup shut the door after the defiant speech from Tsipras. In any case, the team at BTMU sees the euro facing downwards pressure: Here is their view, courtesy of eFXnews: The euro remains very resilient to the marked upturn in risk related … “Greece Risks Contained But Euro Still To Go Lower – BTMU”
EUR: What Central Banks Flows Say – Nomura
The value of EUR/USD does not solely depend on Greece. The big players remain the central banks, with their monetary policies and their reserves. The team at Nomura assesses the situation and what it means for the euro: Here is their view, courtesy of eFXnews: The Euro share of global central bank reserves fell significantly again in … “EUR: What Central Banks Flows Say – Nomura”