Forex Consulting

House to vote on tax bill next week

A House panel will vote on it today There was hope of a vote before the weekend. My sense is that the longer it takes, the less likely it passes. House Maj Leader Kevin McCarthy says the vote will take place some time next week. Copyright 2015 Forexlive.com

Forex Consulting

EUR/USD: Range low in place or not? – ING

ING on the euro ING FX Strategy Research discusses EUR/USD near-term outlook, expecting the recent range low around 1.1550 to be in place for now. “The progress, or lack thereof in tax reform will probably be a key determinant of the USD over coming weeks…We do note that short term rates are very supportive of the…

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Bunds helping to fuel the euro bid

Can’t keep the euro down There is talk about some big unwinds of bets on bunds and against Treasuries today. Trades that were initiated in late October. German 10-year yields are up 4 bps today as part of a broad European fixed-income selloff. Meanwhile. US 10s are down 1 bps to 2.33% as risk aversion…

Forex Consulting

US Sept wholesale trade sales +1.3% vs +0.9% expected

Wholesale trade sales data for September – Prior was +1.7% (Revised to +1.9%) – Inventories +0.3% vs +0.3% expected – Prior inventories +0.3% It’s a low tier indicator but it’s more good news for the US economy. Don’t expect an FX reaction with the market focused on taxes but it’s part of the broader US-dollar…