Archive for December, 2013

USDJPY Hits 105.40, Ready for a Pullback?

by Christopher Lemieuxon December 30, 2013 8:13 am GMT
The yen continues to slide lower as risk currencies gain in early Monday trade. The US dollar is modestly lower along with precious metals and US equity futures. Economic data is light, but the US will report pending home sales MoM. This should get markets moving and have an impact on the dollar. On Friday, […]

PBOC Eases Cash Crunch Advancing Yuan; Baht Declines on Continued Unrest

by Christopher Lemieuxon December 27, 2013 8:01 pm GMT
The People’s Bank of China (PBOC) injected more cash in order to ease the troublesomely high rates. $4.8 billion, or 29 billion yuan, was released by the PBOC, causing the seven-day repo rate to fall 252. This caused the yuan to rise to 20-year highs. “The reverse-repo injection greatly eased market concern,” said Gao Hui, […]

Euro Gets a Push From Weidmann, Is 1.400 In the Future?

by Christopher Lemieuxon December 27, 2013 7:17 pm GMT
The euro is up big on the dollar (along with every other major peer except the Canadian and Australian dollar, and, of course, the yen). European Central Bank (ECB) board member Buba Weidmann said that the ECB would need to raise interest rates if inflation pressures mount, and the euro hit 1.3892 in thin holiday […]

West Texas Crude Above $100; Outlook

by Christopher Lemieuxon December 27, 2013 4:49 pm GMT
Economic optimism has been strengthening West Texas Intermediate (WTI) crude along with the fourth consecutive week of inventory depletion. The Energy Information Administration (EIA) reported weekly inventories dropping 4.7 million barrels which far exceeded the forecast of a 1.9 million barrel shortage. A large part of the inventory decline is due to refineries operating at […]