Monthly Archives: September 2011
US: Jobless claims fall suggesting still weak trend but some relief
Initial jobless claims dropped to 391k in the week ending September 24 from an upward revised 428k the week prior. The 4-week moving average moderated to 417k from 422k.
Russia: RUB Set to Rebound
RUB has sold off strongly recently, for a total decline of 15% against the basket and 17% against the dollar since the end of July, breaking through the psychological barriers of 32 to the dollar and 37 to the basket and pushing against the upward edge of the corridor.
Behavioral Finance: Daily Forex Outlook: Euro maintains optimistic undercurrent, for now
EUR/USD (1.3615) Eurozone policymakers seem to have been rather dismissive of discussions about the transformation of the EFSF into a two-trillion-euro-heavy leveraged bailout vehicle. German finance minister, Schauble, has been notably critical and Bundesbank president, Jens Weidmann, has also indicated that the ECB would not play a role, a stance that reportedly has the full […]
Governor Bollard ‘comfortable’ with current level of NZ interest rates
Reserve Bank of New Zealand (RBNZ) Governor Alan Bollard gave an extended radio interview this morning following his recent attendance at the IMF, World Bank and G20 meetings in Washington. The general tone of the interview was very much in line with the recent RBNZ September MPS and our view that the RBNZ will follow […]
UniCredit EEMEA Daily
News HU: Neutral – August Unemployment comes in unchanged at 10.8% (p2) RU: Negative – FX reserves fell USD6bn last week, we reckon roughly half was due to interventions (p1) SI: Negative – Fitch downgrades credit rating to AA- with negative outlook (p2)
RMB options today
Lots of market activity today despite the HK typhoon NDFs in CNY are higher, CNH spot is +150 pts from yesterdays close in Asia CNY 1mth paid up to 3.4 from 2.9 yesterday 3mth 25d RR trading at 1.5 for cny puts
Daily Financial Markets Monitor: September 28, 2011
Global stocks dropped 1.3%. Developed markets tended to fare worse than developing markets. US shares fell 2.3%, erasing yesterday’s gains. Euro area stocks slipped 1.2%. Japanese shares ticked up 0.1%. Emerging market equities dropped 0.5% on the whole.
*BERNANKE SAYS MONETARY POLICY “IS NOT A PANACEA”
*BERNANKE SAYS MONETARY POLICY “IS NOT A PANACEA” *BERNANKE SAYS CURRENT UNEMPLOYMENT PROBLEM UNPRECEDENTED *BERNANKE SAYS UNEMPLOYMENT IN U.S. IS A “NATIONAL CRISIS”
Technical Analysis: Technical Alert
Most points towards ending corrections in most markets. EURUSD twice spiking to the topside suggests offers are back, EUR index the same + a potential hourly head and shoudlers top, IT 10y BTP eyeing key support, EURSEK seems to be finding support so topside focus back,
Technical Analysis – FX Daily Majors
Today’s highlights: EUR/USD: Small base through 1.3602, but only above 1.3796/3810 sets up a more sustainable rebound. We look for a cap here and erratic digestion below into quarter-end. October threat still to 1.3050
FX DAILY STRATEGIST: Europe – 28 September 2011
Risk rally built on shaky grounds; we remain cautious Yesterday’s rally is perhaps best characterised as a combination of positioning and a small dose of glass-half-full optimism. Certainly there was some good news: the passage of the Greek property tax; and of the EFSF reform bills by Austria and Slovenia; Finland is expected to follow […]
Behavioral Finance: Daily Forex Outlook: Reality tames euro optimism
EUR/USD (1.3555) An imaginative and hopeful market anticipating an imminent political solution to the eurozone debt crisis pushed the euro to a one-week high yesterday. But over the course of the day the brief optimism over the idea of the enlarged EFSF and the two-trillion euro figure disappeared as European politicians like German finance minister, […]