Daily Forex Comment by Everest Markets

[DavidWarren]

Wednesday, September 11, 2013

Everest Markets Daily Forex Comment

US Dollar was mixed against most of its major counterparts on Tuesday. On the US economic data front, NFIB Small Business Optimism index fell to 94.0 (95.0 expected) in August from 94.1 the previous month.

The British Pound was firm against its major counterparts. In UK, RICS house-price index rose to 40 in August, the highest since November 2006, vs 37 in July.

 

[DavidWarren]

Thursday, September 12, 2013

Everest Markets Daily Forex Comment

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 September 6th fell 13.5%. Wholesale inventories rose 0.1% MoM (+0.3% expected) in July after a 0.2% decline the previous month.

The British Pound was firm against its major counterparts. In UK, jobless claims were down by 32.6K in August vs -36.3K in July (revised from -29.2K). They were expected to slid by 21K. ILO unemployment rate was 7.7% during the May-July period, down from 7.8% in the previous period.

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[DavidWarren]

Friday, September 20, 2013

Everest Markets Daily Forex Comment

US Dollar was mixed against most of its major counterparts on Thursday. On the US economic data front, initial jobless claims rose by 15,000 to 309K (330K expected) in the week ended September 14th. The Philly Fed index jumped to 22.3 (10.3 expected) in September from 9.3 the previous month. Finally, existing home sales increased 1.7% MoM (-2.6% expected) in August while leading index gained 0.7% (+0.6% expected).

The British Pound was under pressure against its major counterparts. UK retail sales unexpectedly fell 0.9% in August after a 1.1% increase the month before. Consensus anticipated a 0.4% increase.

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[DavidWarren]

Wednesday, September 25, 2013

Everest Markets Daily Forex Comment

US Dollar was mixed against most of its major counterparts on Monday. On the US economic data front, the S&P/Case-Shiller index of property values in 20 cities increased 12.39% YoY as expected in July. According to FHFA, home prices rose 1.0% MoM (+0.8% expected) in July. Finally, Richmond Fed Manufacturing index dropped to 0 (12 expected) in September from 14 the previous month while the Conference Board's consumer confidence index declined to 79.7 (79.9 expected) from 81.8 the prior month.

The Euro was mixed against its major counterparts. In Germany, the IFO business sentiment was up to 107.7 in September from 107.6 in the previous month, marking the fifth straight monthly increase. However, economists anticipated the index to be 108.

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[DavidWarren]

Thursday, September 26, 2013

Everest Markets Daily Forex Comment

US Dollar fell against most of its major counterparts on Wednesday. On the US economic data front, Durable Goods New Orders rose 0.1% MoM (-0.2% expected) in August after a downwardly revised 8.1% decline the previous month. New Home Sales increased 7.9% MoM (6.6% expected) in August according to the Commerce Department.

The Euro was up against its major counterparts. the GfK sentiment indicator advanced to 7.1 for October, its highest since September 2007, from 7 in the previous month and above expectations of 7. French business confidence index fell to 97 in September vs 98 the month before and 99 anticipated by economists

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[DavidWarren]

Friday, October 4, 2013

Everest Markets Daily Forex Comment

US Dollar was under pressure against most of its major counterparts on Thursday. On the US economic data front, initial jobless claims rose by 1,000 to 308K (315K expected) in the week ended September 28th. ISM non-manufacturing index dropped to 54.4 (57.0 expected) in September from 58.6 the previous month.

The Euro was firm against its major counterparts. In Europe, euro zone PMI composite was 52.2 in September in final estimation vs 52.1 in prior one. PMI services was also revised on the upside at 52.2 vs 52.1 in first estimation. Separately, euro-zone retail sales increased 0.7% in August after a 0.5% gain in July (revised from +0.1%). Economists expected +0.2%. Germany PMI services was 53.7 in final estimation in September vs 54.4 in prior one.

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[DavidWarren]

Wednesday, October 9, 2013

Everest Markets Daily Forex Comment

US Dollar was mixed against most of its major counterparts on Tuesday. On the US economic data front, NFIB Small Business Optimism index for September fell to 93.9 from 94.1 the previous month (94.3 expected).

The Euro erased its earlier gains against its major counterparts. Germany trade balance was an excess of E13.1B in August compared to an excess of E16.2B in July. Exports gained 1% while imports increased 0.4%. Separately, factory orders slid 0.3% in August after dropping 1.9% the month before. Consensus was a 1.1% increase. Bank of France business sentiment was flat at 97 in September (98 expected). French trade balance deficit narrowed to E4.91B in August vs E5.08B the month before.

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[DavidWarren]

Thursday, October 10, 2013

Everest Markets Daily Forex Comment

US Dollar rose against most of its major counterparts on Wednesday. On the US economic data front, no major data was released due to partial shutdown. Minutes from September 17-18 FOMC meeting suggest that most Federal Reserve policy makers are on track for QE tapering later this year, halting mid-2014.

The British Pound dropped against its major counterparts. UK industrial production fell by 1.1% in August, the most since September 2012, after a 0.1% increase the month before. Consensus was +0.4%.

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