Monthly Archives: December 2011
EUR Week Summary
Europe’s debt crisis continued to take a toll on the Euro Friday, as it lodged at an 11-year low against the JPY and 1 cent away from its weakest level more than a year versus the USD on the final trading day of 2011.
GOLD ANALYSIS
The price of Gold is on track to record its 11th consecutive annual rise, despite a disappointing final few weeks for market bulls that have significantly pared the market’s gains and clouded the short-term outlook for the precious metal.
Quiet markets as New Year approaches; What to watch in 2012
US wins as tough year sees end Global asset markets are quiet on this last trading day before New Year. European stocks are 0.3 percent higher, EURUSD is down 0.2 percent, gold spot is up 1.6 percent, WTI crude is unchanged and Spanish & Italian 10-year bond yields are down eight and two basis points […]
JPY ANALYSIS
Opened in Asia at Y77.65 and pushed up in the Tokyo fixing on some cross demand in AUD/JPY and EUR/JPY to highs of Y77.74 before euro-yen sales post fixing led a fall back to Y77.52 in thin market trade.
EURO ANALYSIS
The EURO fell below the Y100 mark for the first time since June 2001 on Friday, pushed lower by continued pessimism toward Europe’s debt problems. At 1053 GMT, the single currency was at Y100.10, having dipped as low as Y99.96.
GOLD ANALYSIS
Spot Gold prices have finally staged a recovery, after falling yesterday to $1522.65, the lowest levels seen since July. Thursday’s low has now seen gold tumble $399 from its record high of $1921.15 back on the 6 Jun. As previously reported by MNI, it’s becoming more apparent that investors are now clearly showing a preference […]
The winds of uncertainty swept through currency markets in 2011
2011 was not a kind year for mostly everyone involved in the currency markets. Traders generally depend on fundamental data to dictate directions in the forex market, but the uncertainty in Europe and the floundering global economic recovery were a recipe for daily bouts of volatility that had not been witnessed since the timeframe of […]
BUND ANALYSIS
German government bonds opening lower on the last trading day of the year, with volumes thin in a holiday shortened session. Given the lack of liquidity and light volume trading the risk of short-covering remains as investors turn their focus on 2012, with general view that the EUROZONE sovereign debt crisis is likely to extend […]
UK Morning Briefing
Forex Overnight: EUR trading weak The EUR is trading under pressure against the majors, this morning, ahead of a report scheduled for release next week, which is likely to indicate a slowdown in the Eurozone’s manufacturing sector in December. Yesterday’s lacklustre Italian bond auction has continued to weigh on investor sentiment. At 6 am, the […]
GOLD ANALYSIS
Spot Gold fell to multi-month lows yesterdays as the EUR/USD hit 2011 lows as long liquidations continue into the year end. Investors have been seen turning out of the metal in preference for equities with several fund managers apparently leading the way.
Better US data boosts risk appetite and caps the USD overnight
Another day spent in tight ranges during the Asian session after risk currencies rebounded overnight following an extended early sell-off. The final data releases for the year gave us the first indications of manufacturing activity for the Asia region in December. Following yesterday’s string of disappointments, Japan at least had something to cheer about when […]
CRUDE OIL ANALYSIS
Nymex crude prices had a mixed day yesterday with the February contract coming under pressure in NY as the EUR/USD was sold to fresh 2011 lows and Gold headed down towards the $1500 level.