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US housing slightly better than expected

US housing starts rise 4.8% to 1.189 million annualized, but on top of a downwards revision. Building permits are up 1.5% reaching 1.153 million annualized. The bottom line is a slight beat of expectations. The US dollar is extending its gains, with EUR/USD edging lower. US housing starts were expected to rise from 1.164 million (annualized) in My […]

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Good Inflation Data But The Pound Is Still Down Against All Majors

The inflation numbers just came out and the results where as follows: – CPI (YoY) Jun: 0.50% (est 0.40%; prev 0.30%) – CPI Core (YoY) Jun: 1.40% (est 1.30%; prev 1.20%) – RPI (YoY) Jun: 1.60% (est 1.50%; prev 1.40%) – PPI Input NSA (MoM) Jun: 1.80% (est 1.30%; rev prev 2.20%) These are great […]

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German ZEW Sentiment goes negative -6.8 – Brexit driven

Business confidence tumbles down in Germany with the ZEW indicator crashing to negative ground, reflecting pessimism. This is Brexit driven. Current conditions also missed with a slide to 49.8 points. The all European figure has also gone negative with -14.7, way worse than +12.3 points expected. EUR/USD is not really reacting, not yet. The IFO figure will […]

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UK inflation beats expectations with 0.5% y/y – GBP ticks higher

Prices are rising at an accelerated pace in the UK: is this a result of Brexit? Or just a small divergence on expectations? CPI rises 0.5% y/y and core CPI at 1.4%. Month over month, prices rose 0.2%, exactly as expected. The Retail Price Index (RPI) also beat with 1.6% y/y instead of 1.4% expected. […]

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AUD/USD loses ground on dovish meeting minutes

The Reserve Bank of Australia sounds a bit more worried about the inflation, employment and the exchange rate as well. The meeting minutes from the July meeting raise the expectations for a cut in interest rates next month. The meeting minutes showed that Glenn Stevens and his colleagues are waiting for upcoming inflation figures and will […]

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EUR: Dovish ECB; JPY: High Risk Of Disappointment – Barclays

Will we indeed see helicopter money in Japan? And what is going on with the euro? The team at Barclays has some answers: Here is their view, courtesy of eFXnews: JPY: Helicopter money in Japan is unlikely and would undermine the JPY’s store of value. The risk of disappointment is risingas fundamental drivers of JPY appreciation, […]

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GBP/USD edges higher on Weale’s words, limited by housing concerns

Cable had the first positive week since Brexit, riding on some political certainty and the no-cut decision of the BOE. However, the same BOE also gave us very thick hints about the next meeting on August 4th. They made it clear that fresh stimulus is on the cards. But is it really the case? If […]

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Turkey: Coup seems to have failed – will safe haven flows be undone?

A dramatic night seems to result in the current regime led by Erdogan taking back control of the country. No less than 1500 rebels have been arrested and at least 90 people were killed. TV stations are back under government control and president vows revenge on the coup organizers. The coup happened when he was on […]

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Turkey: Military Coup in place – EUR/USD down, USD/JPY up

There is an ongoing coup in Turkey with the military attempting to take over and many details unclear. This is an ongoing event that could result in a successful coup, a crushing of the rebellion or the worst case scenario: a civil war. Update: Turkey: Coup seems to have failed – will safe haven flows be undone? […]

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