Monthly Archives: September 2011
German IFO fell to 107.5 in September from 108.7 a month ago
In September, the German IFO business index fell to 107.5 (a 15-month low) from 108.7 reported for August, with the decline having been less pronounced than was widely feared (market estimate: 106.5, BarCap: 108.5).
What matters today (Asia edition)
Developed macro 1. Risk appetite stabilised somewhat amid speculation about policy measures to contain the eurozone crisis 2. ECB speakers continue to hint at policy accommodation in October, at least on the liquidity front, while the case for a rate cut has strengthened. 3. Eurozone M3 annual growth to remain weak in August.
FX DAILY STRATEGIST: US – 26 Sept 2011
Sentiment extremely mixed in Europe : Risk sentiment has been erratic with a risk-off mood in equity markets in Asia given way to a risk-on tone in Europe. While there was little concrete from the weekend G20/IMF meetings, equities are rallying (led by the financials) in response to a UK Telegraph report of a comprehensive […]
Technical Analysis – FX Daily Majors
Today’s highlights: EUR/USD: Reluctant Friday bounce and “outside” pattern (lower?) today again breaks key 1.3428/10 support, with risk next to 1.3305 and late Q3/early October threat to 1.3050 AUD/USD: Aggressive reversal below critical .9933/27 aims at .9574/37 this week; October overshoot threat to .9218
RUB WATCHERS
Summary Vladimir Putin will run for the presidency in 2012, Unified Russia to win parliamentary elections and Dmitry Medvedev to become a prime-minister – these are the key results of the ruling Unified Russia party Congress on Saturday.
FX DAILY STRATEGIST: Europe – 26 September 2011
Friday optimism once again gives way to disappointment FX markets showed a little more stability on Friday, but once again this has proven temporary. Reports that EU officials were contemplating bringing forward the creation of the ESM (successor to the EFSF) to 2012, and that it would have capital of EUR500bn, helped drive optimism that […]
Technical Focus: Industrial Metals Technical Weekly
Industrial metals technical weekly: Even it feels like catching a falling knife…we think the stage is set for a potential rebound. Several markets has reached expected firm support levels hence a bounce would fit very well into the larger picture.
Behavioral Finance: Daily Forex Outlook: Euro traders seem to favour the radical plan
EUR/USD (1.3405) Eurozone leaders were in the unusual situation of not having to dwell on the problems of other nations at the annual IMF meeting in Washington; they had to discuss their own.
European FX Daily – Risk sell-off resumes on lack of solutions for Europe
– NZD and KRW lead sell-off vs. USD, Asian equities down 0.9-5.1% – German Ifo likely to weigh on the EUR – European policy in focus this week – USD growth data likely to be soft while inflation likely firmer
Russia: Still Putin’s domain
The ruling United Russia’s congress, held in Moscow on 23-24 September, has underscored Vladimir Putin’s domination of Russia’s domestic politics. The incumbent president, Dmitry Medvedev, surprisingly nominated Putin as the party’s candidate in the presidential elections next March, renouncing early a bid for a second consecutive term.
FX Techtonics Daily – USD/CAD: ST bullish signal
EUR/USD EUR/USD should clearly break below last Thursday’s low of 1.3385, which has come under pressure, and target the January low of 1.2860, with steps at 1.3245 and 1.3050.
Sunday Times: €3 trillion deal to ‘save euro’
G20 finance chiefs meeting in Washington have started to draw up a three-pronged plan to save Greece and the eurozone from collapse The world’s leading economies last night began work on a multi-trillion-euro package to save the eurozone. G20 finance chiefs meeting in Washington started to draw up a bold plan to expand the European […]