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It is Mostly about the US in the Week Ahead

July 27, 2014
The main drivers in the week ahead will come from the United States.  Rarely does the Federal Reserve Open Market Committee meet in the same week as the monthly jobs report.  In addition, the government will publish its first estimate of Q2 GDP and the Employment Cost Index. For extra measure, auto sales and the manufacturing ISM are also due. 
The…
It is Mostly about the US in the Week Ahead It is Mostly about the US in the Week Ahead Reviewed by Marc Chandler on July 27, 2014 Rating: 5
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Respecting FX Price Action

July 26, 2014
Against the major currencies, the US dollar had a good week. It appreciated across the board, with two minor exceptions.  The Swedish krona continued to recover from the slide spurred by the larger than expected 50 bp rate cut at the start of the month.  A few data points, including June manufacturing PMI and June CPI were stronger than expected, …
Respecting FX Price Action Respecting FX Price Action Reviewed by Marc Chandler on July 26, 2014 Rating: 5
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Great Graphic: G7 GDP

July 25, 2014
The UK is typically the first G7 country to report its official estimate of quarterly GDP figures. Today was the day. Growth in Q2 was spot on expectations, matching the 0.8% pace seen in Q1. The US will issue its first estimate next week. 
Today's US June durable goods order report was somewhat disappointing. This stems from the weakness in…
Great Graphic: G7 GDP Great Graphic:  G7 GDP Reviewed by Marc Chandler on July 25, 2014 Rating: 5
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Dollar's Latest Upticks Look Vulnerable

July 25, 2014
The US dollar is posting modest across the board gains as the week winds down, but the latest upticks look vulnerable in the North American session. The euro has held above yesterday's lows.  Sterling made a marginal new low but is finding bids ahead of support near $1.6950.  The dollar's upside momentum appears to be faltering ahead of JP…
Dollar's Latest Upticks Look Vulnerable Dollar's Latest Upticks Look Vulnerable Reviewed by Marc Chandler on July 25, 2014 Rating: 5
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Great Graphic: Weekly Initial Jobless Claims and the S&P 500

July 24, 2014
Weekly initial jobless claims fell 19k in the week ending July 18 to 284k.  This represents a new cyclical low.  The four-week moving average, used to smooth out this volatile series, also has fallen to new lows.  
The prior week report covered the period during which the monthly non-farm payroll survey was taken. Weekly initial jobless claims fell…
Great Graphic: Weekly Initial Jobless Claims and the S&P 500 Great Graphic:  Weekly Initial Jobless Claims and the S&P 500 Reviewed by Marc Chandler on July 24, 2014 Rating: 5
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