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US Data Sandwiched by Fed Minutes To Keep Traders Busy
Analysts expect Tuesday’s US retail sales to bounce back after June’s 0.2 per cent fall and that Thursday’s US industrial production (IP) figure will also be on the strong side. The issue for US dollar bulls is whether such outcomes trump last week’s sub-expectations US inflation data. Dutch bank ING thinks not. ING feels decent[…]
Yen Bears Vulnerable To Obon Jitters
Japan may have celebrated Mountain Day last Friday but the first few days of this week (13-15 August) will also incorporate Obon (the Festival of Souls) which, although not an official holiday, is observed by a lot of Japanese. Writing on Friday, US firm Morgan Stanley noted that “data from Japan’s Ministry of Finance shows[…]
Trying to Make Sense Of The Yen’s Safe Haven Status
Rising tensions in the Korean peninsula prompted some notable moves on the currency markets on Wednesday as risk aversion asserted itself. While it might seem counter-intuitive given Japan’s proximity to North Korea, traders purchased the yen as a safe haven on the ratcheting up of tension between Pyongyang and Washington. But, as US firm BNYMellon[…]