Euro getting crushed here, could: This article explores the topic in depth.
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Euro getting crushed here. Meanwhile, could:
Today we get the useless US June JOLTS survey (very low response rate, heavy revisions) and the Conference Board US Consumer Confidence survey, which is a bit more interesting for the national mood. In addition, The important Expectations component of that survey settled in June near the lows of the range since 2013 after. Similarly, a one-off wipeout in April around Trump’s Liberation Day announcements that reversed in May. Similarly, The Present Situation component of the confidence survey is in a local downtrend but still relatively elevated in the. Additionally, Similarly, historic range. The market may be jolted on the JOLTS survey as it was last month on the sudden strength after a string of weaker numbers. but it is a mere distraction ahead of the July US ADP payrolls number tomorrow (which in turn was very misleading last month relative to the euro getting crushed here, could strong-ish Nonfarm Payrolls change and 0.2% drop in the Unemployment Rate). The NFP change number has been beyond misleading and yet market participants (and algorithms?) continue to react strongly to it… The most recent QECW (an exhaustive survey that comes out with a significant. delay relative to the monthly BLS employment data) showed that 2024 payrolls saw the largest overestimation in 15 years
And I’m not alone in fretting about the quality of US data. A recent Reuters article discusses the poor quality of US economic data. in part due to Trump administration disruptions to the data-collecting bureaucracy.
Note as well that we have the June. Q2 CPI figures up from Australia tonight, a key input ahead of the August 12 RBA meeting (more than 90% priced for a 25-bp cut). As I discussed in my Friday week-ahead piece. I see the Bank of Japan as far more likely to deliver a euro getting crushed here, could surprise than the FOMC.
FX Board of G10 and CNH trend evolution and strength.
Note: If unfamiliar with the FX board, please see a video tutorial for understanding and using the FX Board.
With the hard reversal. the trend readings for the Euro are reversing about as hard as I have ever seen on the FX Board (-3.2 on the two-day momentum and the day is young….). The US dollar. Japanese yen look somewhat like fellow travelers here, just as they were against the euro when the latter was strong.
Euro getting crushed here, could
Further reading: Press review: in Switzerland, health costs could double by 2040 – Geneva: Autistic child fugue from his school and is stopped in customs – Friborg: Léchelles tears around the VIPRET affair – These Mercosur products that could land on our plates – RTS.CH – Leasing is little used in Switzerland, and rightly, according to the TCS – RTS.CH.