Posted by: Commentary from Boris Schlossberg and Kathy Lien, Directors of Research, GFT
The EUR/USD was lower by more than 100 points at the start of the week’s trade today, as fear of a spreading swine flu epidemic gripped global capital markets. Centered in Mexico, the swine flu outbreak has managed to kill more than 80 [...]

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Posted by: Commentary from Boris Schlossberg and Kathy Lien, Directors of Research, GFT
The outbreak of swine flu triggered a wave of risk aversion in Asian currency trade today with the region especially concerned given its recent history with SARS virus. Health officials were on alert across the globe against the pandemic with Mexico acting [...]

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Posted by: Commentary from Boris Schlossberg and Kathy Lien, Directors of Research, GFT
The greenback faces broad selling today as risk tolerance improves along with equity rallies. The equity rallies were primarily fueled by the gradual uncovering of stress test details and upbeat earnings. The same story of components have been the major market driver for [...]

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Posted by: Commentary from Boris Schlossberg and Kathy Lien, Directors of Research, GFT
Less than expected decline in the Durable Goods Orders along with higher than projected new home sales added to optimism of a possible bottom in the economic downturn. U.S. New Home Sales fell 0.6% in March from 358,000 to a seasonally adjusted annual [...]

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Posted by: Commentary from Boris Schlossberg and Kathy Lien, Directors of Research, GFT
The euro rally continued in early European trade today after the IFO survey of business confidence handily beat expectations printing at 83.7 vs. consensus calls of 82.1. The IFO release was the third positive economic surprise from the EZ this week, following on [...]

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Posted by: Commentary from Boris Schlossberg and Kathy Lien, Directors of Research, GFT
The IFO survey of business expectations printed much better than expected confirming other data points from the Eurozone this week that showed a possible turn to the upside in the region’s economy. The IFO survey recorded a reading of 83.7 versus consensus expectations [...]

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Posted by: Commentary from Boris Schlossberg and Kathy Lien, Directors of Research, GFT
March Existing Home Sales declined significantly dropping to a 4.57M versus expectations of 4.65M annual run rate. The decline was materially worse than the 4.71M figure for the month of February. Median price of a home fell by 12% from the year [...]

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Posted by: Commentary from Boris Schlossberg and Kathy Lien, Directors of Research, GFT
The euro received a lift from better than expected PMI Manufacturing and Services surveys both of which printed materially stronger than forecast. The Manufacturing PMI rose to 36.7 from 34.7 eyed while the Services survey jumped to 43.1 from 42.1 projected. As [...]

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Posted by: Commentary from Boris Schlossberg and Kathy Lien, Directors of Research, GFT
EZ PMI Services survey registered it best reading in six months printing at 43.1 versus forecasts of 41.2 while the Manufacturing gauge also improved to 36.7 from 33.9 the month prior. The better than expected results of the survey suggest that the [...]

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Posted by: Commentary from Boris Schlossberg and Kathy Lien, Directors of Research, GFT
This week’s primary influence has been deeply rooted in speculation over stress test results as well as the flood of earnings reports that, so far, indicate that profits are on the rise. These mixed signals have been too much for the Dow to [...]

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