Daily Archives: September 23, 2011
Behavioral Finance: Daily Forex Outlook: Universal pessimism descends on the market
EUR/USD (1.3530) David Cameron told Canada’s parliament last night that ‘the problems in the eurozone are now so big that they have begun to threaten the stability of the world economy’. The UK prime minister said that eurozone leaders must quickly implement what they have agreed upon.
UniCredit EEMEA Daily
News CZ: Neutral – CNB left the repo rate unchanged at 0.75% (p2) RO: Negative – MinFin sold RON 0.1bn 10Y ROMGB: yield 7.65% (p2) SA: Negative – SARB leaves repo rate unchanged, discussed rate cut SI: Negative – Moody’s cuts rating by one notch to Aa3 with negative outlook citing economic slowdown and banking […]
FX Techtonics Daily – EUR/USD: pressure on 1.3410/30 support zone
EUR/USD EUR/USD should clearly break below the 1.3420/95 support zone, which has come under pressure, and target the January low of 1.2860, with steps at 1.3245 and 1.3050.
O/n Wrap, Orderbook & Flow, $Asia, G20
1) Overnight Asia Wrap G20 Headlines dominate the day… Asian equities trashed to start the day, keeping pace with their counterparts on the other side of the globe. Kospi down over 5% the biggest mover. Rumors then began to circulate of a emergency press release from the G20, ” JIJI SAYS G20 TO CONFIRM COOPERATION […]
What matters today (Asia edition)
Developed macro 1. Risk-off sessions were seen with intensifying worry about double-dip recession 2. No first-tier data in Europe, but key European speakers in Washington.
FX Techs: London Open
At a glance: Getting ready for a final sell-off The action on the risk side is still dominating market trends across asset classes and with neckline support being broken in the FTSE 100, the S & P 500 and the DJI, chances of re-testing and exceeding the August lows are very high now. Given the […]
AUD, NZD and RBNZ forecast change: The storm before the calm
The AUD and NZD have lost significant ground in recent days as global macro conditions have deteriorated further. As discussed in detail in the FX Quarterly, we expect a deterioration of the European crisis to extend the short-term underperformance of cyclical assets globally, as well as strengthen the USD because of its safe-haven status.
Technical Analysis: Technical Alert
Impulsive moves in most asset classes but also a slowdown late in the session, reducing risk ahead of the G20? EURUSD almost made it into the 1.3150/3350 support zone, small bounce looks like short covering so expect a more thorough test early next week. AUD took a real hit and has already arrived at next […]
HSBC: Currencies: Technical Analysis: Could Greek stocks be turning bullish?
We often say that as technical analysts, “ours is not to reason why, ours is just to sell or buy”. But Greek stocks could be turning bullish. Cycle evidence suggests that the Athens stock market is close to a significant low and that the underperformance versus Germany is about to reverse.