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Daily Forex Comment by Everest Markets

DavidWarren

Broker Representative
Forex Comment

US Dollar was slightly lower against most of its major counterparts on Tuesday. On the economic data front, FHFA house price index rose 0.7% MoM (+0.8% expected) in May after a downwardly revised 0.5% gain the previous month. Richmond Fed manufacturing index dropped to -11 (9 expected) in July from 7 the prior month.

The Euro was mixed against its major counterparts. In Europe, French business confidence increased to 95 in July vs 93 in June and 94 anticipated by economists.
 

DavidWarren

Broker Representative
July 30 Forex Comment

US Dollar was mixed against most of its major counterparts on Monday. On the economic data front, pending home sales fell 0.4% MoM (-1.0% expected) in June after a downwardly revised 5.8% gain the previous month. Dallas Fed manufacturing activity index dropped to 4.4 (7.5 expected) in July from 6.5 the prior month.

The British Pound was under pressure against its major counterparts. In UK, mortgage approvals were 57.7K in June vs 58.1K a month before and 59.7K expected by economists.


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DavidWarren

Broker Representative
July 30 Forex Comment

US Dollar was mixed against most of its major counterparts on Monday. On the economic data front, pending home sales fell 0.4% MoM (-1.0% expected) in June after a downwardly revised 5.8% gain the previous month. Dallas Fed manufacturing activity index dropped to 4.4 (7.5 expected) in July from 6.5 the prior month.

The British Pound was under pressure against its major counterparts. In UK, mortgage approvals were 57.7K in June vs 58.1K a month before and 59.7K expected by economists.
 

DavidWarren

Broker Representative
31 July 2013

US Dollar was firm against most of its major counterparts on Tuesday. On the economic data front, the S&P/Case-Shiller index of property values rose 12.17% YoY (+12.40% expected) in May. The Conference Board's index of sentiment fell to 80.3 (81.3 expected) in July from 82.1 the previous month.

The Euro was mixed against its major counterparts. In euro-zone, consumer confidence index increased to -17.4 in July vs -17.7 in June. In Germany, consumer prices were 0.5% in July after a 0.1% gain the month before. Economists expected a 0.3% increase. Still in Germany, GfK consumer confidence survey was 7 for August, a new high since October 2007, vs 6.8 for July and 6.9 anticipated by the consensus.


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DavidWarren

Broker Representative
5 August 2013

US Dollar slid against most of its major counterparts on Friday. On the economic data front, Non farm payrolls rose by 162K (185K expected) in July while unemployment rate fell to 7.4% (7.5% expected) from 7.6% the previous month. Personal income gained 0.3% MoM (+0.4% expected) in July while personal spending increased 0.5% MoM as expected. Finally, factory orders rose 1.5% (+2.3% expected) in June after an upwardly revised 3.0% gain the prior month.

The British Pound was firm against its major counterparts. According to Nationwide, house prices in UK edged up 0.8% in July after being up 0.3% the month before. They were expected to increase 0.4%. UK PMI construction jumped to 57 in July vs 51 the month before and 51.5 anticipated by consensus.


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DavidWarren

Broker Representative
6 August 2013

US Dollar was mixed against most of its major counterparts on Monday. On the economic data front, the ISM Non-Manufacturing index rose to 56.0 (53.1 expected) in July from 52.2 the previous month.

The Euro slid against its major counterparts. In Europe, euro zone PMI composite was up to 50.5 in July in final estimation vs 50.4 in prior one. PMI services was also revised on the upside at 49.8 vs 49.6 in first estimation. Separately, euro-zone retail sales retreated 0.5% in June after a 1.1% gain in June (revised from +1%). Economists expected a 0.7% decline. Germany PMI services was 51.3 in final estimation in July vs 52.5 in prior one.


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DavidWarren

Broker Representative
7 August 2013

US Dollar slid against most of its major counterparts on Tuesday. On the US economic data front, the trade deficit narrowed to $34.2B ($43.5B expected) in June from a revised $44.1B in May according to the Commerce Department.

The Euro was firm against its major counterparts. German factory orders jumped 3.8% in June after a 0.5% drop in May (revised from -1.3%). Economists expected a 1% increase.




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DavidWarren

Broker Representative
Thursday, August 8, 2013

US Dollar was under pressure against most of its major counterparts on Wednesday. On the US economic data front, MBA Mortgage applications for the week ended August 2nd rose 0.2% (-3.7% prior).

The British Pound jumped against its major counterparts. BOE said it "intends not to raise Bank Rate from its current level of 0.5% at least until the Labour Force Survey headline measure of the unemployment rate has fallen to a threshold of 7%".

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DavidWarren

Broker Representative
Monday, 12 August 2013

US Dollar was mixed against most of its major counterparts on Friday. On the US economic data front, wholesale inventories fell 0.2% MoM (+0.4% expected) in June after a downwardly revised 0.6% decline the previous month.

The British Pound was mixed against its major counterparts. UK trade balance deficit narrowed to £1.55B in June vs £2.62B in May. Still in UK, construction output decreased 0.8% in June after a 0.2% drop the month before. Economists expected a 1.9% decline.

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DavidWarren

Broker Representative
Wednesday, 14 August 2013

Everest Markets Daily Forex Comment


US Dollar was firm against most of its major counterparts on Tuesday. On the economic data front, NFIB Small Business Optimism index rose to 94.1 (94.5 expected) in July from 93.5 the previous month. Import Price Index increased 0.2% MoM (+0.8% expected) in July after a downwardly revised 0.4% decline the prior month while retail sales rose 0.2% MoM (+0.3% expected) after an upwardly revised 0.6% gain in June.

The Euro was mixed against its major counterparts. In Europe, euro-zone industrial production was up by 0.7% in June after a 0.2% decline in May. Economist expected a 1% increase. In Germany, ZEW survey on economic sentiment jumped to 42 in August vs 36.3 in July. Economists anticipated the index to be 39.9. ZEW survey for current situation was up to 18.3 in August vs 10.6 the month before and 12 expected.
 

DavidWarren

Broker Representative
Monday, August 19, 2013

Everest Markets Daily Forex Reviews


US Dollar was under pressure against most of its major counterparts on Thursday. On the economic data front, housing starts climbed 5.9% MoM to an 896K (900K expected) annualized rate in July while building permits rose 2.7% MoM to a 943K (945K expected) annualized rate. Finally, the Thomson Reuters/University of Michigan preliminary index of consumer sentiment fell to 80 (85.2 expected) in August from 85.1 the previous month.

The Euro was mixed against its major counterparts. In Europe, consumer prices slid 0.5%, as expected, after a 0.1% increase the month before. Euro zone trade balance was an excess of E14.9B in June vs +E13.8B in May.


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DavidWarren

Broker Representative
Tuesday, August 20, 2013

Everest Markets Daily Forex Reviews


US Dollar was mixed against most of its major counterparts on Monday. On the US economic data front, no major data were released today.
 

DavidWarren

Broker Representative
Wednesday, August 21, 2013

Everest Markets Daily Forex Comment


US Dollar was under pressure against most of its major counterparts on Tuesday. On the US economic data front, the Chicago Fed National Activity Index rose to -0.15 in July (-0.10 expected) from -0.23 (downwardly revised) the previous month.

The Euro was firm against its major counterparts. In Europe, the German PPI for July m/m reported a decline of 0.1 percent, falling short of economists’ forecasts for growth of 0.2 percent. Eurozone industrial production in June output jumped 0.7% from May when it fell 0.2%.
 

DavidWarren

Broker Representative
Wednesday, August 28, 2013

Everest Markets Daily Forex Comments

US Dollar was mixed against most of its major counterparts on Tuesday. On the US economic data front, the S&P / Case-Shiller index of property values in 20 cities jumped 12.07% YoY (+12.10% expected) in June. Richmond Fed Manufacturing index rose to 14 (0 expected) in August from -11 the previous month. Finally, the Conference Board's index of consumer confident improved to 81.5 (79.0 expected) in August from 81.0 the prior month.

The Euro was firm against its major counterparts. In Europe, in Germany, the IFO business sentiment rose to 107.5 in August from 106.2 in the previous month, marking the fourth straight monthly increase. In Spain, gross domestic product shrank 1.6% in 2012, compared with the previous estimate of a 1.4% contraction.
 

DavidWarren

Broker Representative
Thursday, August 29, 2013

Everest Markets Daily Forex Comment


US Dollar was firm against most of its major counterparts on Wednesday. On the US economic data front, MBA Mortgage Applications for the week ended August 23rd fell 2.5%. Pending home sales slid 1.3% MoM (flat expected) in July after a 0.4% decline the previous month.

The Euro was mixed against its major counterparts. In Germany, the GfK sentiment indicator fell to 6.9 in september from 7 in the previous month and below expectations of 7.
 

DavidWarren

Broker Representative
Friday, August 30, 2013

Everest Markets Daily Forex Comment.


The Euro
was under pressure against its major counterparts. In Europe, German annual inflation rose 1.9% in July, following 1.8% growth registered the previous month. In Germany, joblessness rose by some 7,000 to 2.943 million in seasonally adjusted terms in August, the first month-on-month increase since May. Confidence among French manufacturers hit its highest level in almost two years in August at 98, while sentiment among Italian businesses rose to its highest level since July 2012 at 92.9. The Spanish GDP shrank 0.1 percent quarter-on-quarter in the second quarter of 2013 in line with the advance estimate.
 

DavidWarren

Broker Representative
Monday, September 2, 2013

Everest Markets Daily Forex Comment


US Dollar was firm against most of its major counterparts on Friday. On the US economic data front, both personal income and personal spending rose 0.1% MoM (+0.2% and +0.3% expected respectively) in July. Chicago Purchasing Manager index increased to 53.0 as expected in August from 52.3 the previous month. Finally, the Thomson Reuters/University of Michigan final index of consumer sentiment fell to 82.1 (80.5 expected) from 85.1 the prior month.

The Euro slid against its major counterparts. In Europe, in euro zone, CPI fell to a seasonally adjusted annual rate of 1.3%, from 1.6% in the preceding month. In euro zone, the rate of unemployment remains at an all-time high of 12.1% for the fifth consecutive month in July. Euro zone economic confidence rose to an annual rate of 95.2, from 92.5 in the preceding month. German retail sales fell unexpectedly in July, dropping 1.4 percent from a month earlier.

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DavidWarren

Broker Representative
Wednesday, September 4, 2013

Everest Markets Daily Forex Comment


US Dollar was firm against most of its major counterparts on Tuesday. On the US economic data front, construction spending increased 0.6% MoM (+0.4% expected) in July while ISM manufacturing rose to 55.7 (54.0 expected) in August from 55.4 the previous month.

The Euro
was under pressure against its major counterparts. In Europe, euro zone PPI index was up 0.3% in July after being flat in June. Economist expected a 0.1% rise.

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DavidWarren

Broker Representative
Monday, September 9, 2013

Everest Markets Forex Comment


US Dollar was under pressure against most of its major counterparts on Friday. On the US economic data front, nonfarm payrolls rose by 169K (180K expected) in August after a downwardly revised 104K gain the previous month. Unemployment rate fell to 7.3% (7.4% expected) from 7.4%.

The Euro was mixed against its major counterparts. In Europe, Germany trade balance was an excess of E16.1B in July compared to an excess of E17B in June. Exports slipped 1.1% while imports increased 0.5%. German industrial production was down 1.7% in July after a 2% jump the month before. Economists expected a 0.5% slid.
 
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