SGM-FX insights
Our Daily Brief provides insights into the news and views driving today’s foreign currency exchange rates.
US fourth-quarter GDP was unrevised at 1.9% compared with expectations of an upward revision
US fourth-quarter GDP was unrevised at 1.9% compared with expectations of an upward revision to 2.1% as a higher estimate for consumer spending was offset by a downward revision to government spending and investment. The Chicago PMI index was notably stronger than expected with an increase to 57.4 for February from 50.3 with robust […]
The headline US durable goods orders report was stronger than expected
SGM-FX
Tue 28 Feb 2017
The headline US durable goods orders report was stronger than expected with a 1.8% increase for January, but the figure was inflated by aircraft orders and underlying sales declined 0.2% on the month following a revised 0.9% gain for January. Pending home sales data was weaker than expected with a 2.8% decline for January which […]
The latest CFTC weekly data recorded a decline in the net long dollar position to the lowest level since October
SGM-FX
Mon 20 Feb 2017
The latest CFTC weekly data recorded a decline in the net long dollar position to the lowest level since October 11th as uncertainty continued to undermine long dollar positions with the main shift a further increase in long positions in commodity currencies. The dollar nudged slightly higher on Monday and the Euro again tested […]
US data remained robust with initial jobless claims increasing only slightly
SGM-FX
Fri 17 Feb 2017
The US data remained robust with initial jobless claims increasing only slightly to 239,000 in the latest week from 234,000 previously which still indicated a strong labour market with layoffs remaining at low levels. There was a small decline in housing starts to an annual rate of 1.25mn from 1.28mn previously while permits rose to […]
US NFIB small-business confidence index edges higher for February
SGM-FX
Wed 15 Feb 2017
The US NFIB small-business confidence index edged higher to 105.9 for February from 105.8 previously while there was a stronger than expected reading for producer prices with a 0.6% monthly gain. In her prepared comments to the Senate Banking Committee, Fed Chair Yellen reiterated that it was dangerous to wait too long before raising […]
NY Federal Reserve notes increase in inflation expectations
SGM-FX
Tue 14 Feb 2017
According to the New York Federal Reserve, one-year inflation expectations rose to 3.0% in the latest survey from 2.8% previously and the highest reading since the middle of 2015. Inflation expectations will be an important element of Fed thinking over the next few months, especially as the FOMC had worried previously that low expectations […]
One-year inflation expectations rose to 3.0% in the latest survey from 2.8% previously
SGM-FX
Tue 14 Feb 2017
According to the New York Federal Reserve, one-year inflation expectations rose to 3.0% in the latest survey from 2.8% previously and the highest reading since the middle of 2015. Inflation expectations will be an important element of Fed thinking over the next few months, especially as the FOMC had worried previously that low expectations […]
