Monthly Archives: January 2012
UniCredit EEMEA Daily
News CZ: Mixed – MinFin sells CZK 7.95bn VAR/17: avg. yield 6M PRIBOR+89bp, bid/cover 1.21 / CNB Governor M. Singer said that the current CZK exchange rate allows CNB to keep its policy rates on hold (p2) PL: Dovish – Labor market confirms the lack of wage pressure in the economy (p2)
Technical Analysis
Several EUR pairs having reached their first upside correction targets (in some cases some room left) and the market should hence be vulnerable to renewed weakness. AUDUSD is approaching rather important resistance levels in the 1.0480/0570-area, EURSEK still looks set to try 8.78, possible 8.70.
GBP/USD ANALYSIS
Rate traded the early part of Asia between $1.5423/38, as it consolidated Wednesday’s move, extending to $1.5446 into the Asian afternoon before easing back again ahead of the European open to hold between $1.5423/33.
UBS Morning Adviser Europe
Data Weakens AUD, NZD Both AUD and NZD fell after a pair of disappointing domestic data releases. Unusually, the euro carried on regardless and further consolidated its recent gains. The possibility of a deal between Greece and private sector bond holders appears to be growing, according to the Financial Times.
EUR/USD ANALYSIS
Closed in NY at $1.2864, having extended its Wednesday’s recovery rally through European highs of $1.2847 to $1.28655 during the afternoon session as talk swirled suggesting a Greek deal could be in place by Friday.
GOLD ANALYSIS
Spot Gold prices made modest gains on Wednesday as the metal tracked a return of risk appetite on hopes of a solution the Greek debt deal and talk of additional support from the IMF. The metal continues to hold above the 200 moving average around $1640.80, and a weakening USD index along with heightened physical […]
CRUDE OIL ANALYSIS
Nymex crude prices were mixed yesterday with the March WTI contract posting a small loss on the day despite a firmer EUR/USD and a rise in gold prices. The API reported a 4.8mmbl draw in crude inventories last night which was in sharp contrast to analysts expectations of a 3mmbl build.
USD/JPY ANALYSIS
The USD opened at Y76.83 and fell from, early highs of Y76.85 to Y76.72 before finding some support but remains on soft footing ahead of semi-official bids at Y76.50 and stops down through Y76.45. Exporter offers continue to cap from Y76.90 through to Y77.15.
AUD ANALYSIS
The AUD slid slightly in Asia trading Thursday, hit by a weak reading on the country’s labor force. The currency had gained for much of the U.S. session into early Asia action, helped by word from the International Monetary Fund that it is seeking more firepower to combat the euro-zone debt issues, as well as […]
NZD ANALYSIS
The NZD was trading largely unchanged late Thursday after the release of surprisingly weak fourth quarter Consumer Price Index data led to some selling in the local unit. NZD touched a high of US$0.8081 prior to the release of the CPI data, but fell sharply following the release.
CRUDE OIL ANALYSIS
Crude futures retreated from early gains Wednesday as investor focus shifts back to Europe’s fragile economic picture and the International Energy Agency warned oil demand could suffer next year. Light, sweet crude for February delivery recently traded 53 cents lower at $100.18 a barrel on the New York Mercantile Exchange, down from as high as […]
Behavioral Finance: Daily Forex Outlook : ECB rethink in the pipeline?
EUR USD (1.2780) Better-than-expected data from China and Germany and successful eurozone bond auctions spurred risk appetite across asset classes yesterday – equity markets are strong and the euro is firming.