Following a wall of discouraging data recently things turned more upbeat this week, as we received positive surprises from both the US and China coupled with a continued flow of solid eurozone data. There is little doubt that the US remains in a slowdown phase

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Weekly Focus: A Sense of Relief

Here is the market’s apparent logic of late: we supposed to sell the USD because the economy in the US is looking so terrible and weak data means ever lower US yields and a Fed that will devalue the USD to save the economy.

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Nonfarm Positive Surprise: Shouldn’t USD Rally?

The rally in risk appetite boosted by strong Chinese and Australian data yesterday was further encouraged after our last article by stronger than expected US ISM numbers.

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FX Market Skittish Before ECB