Daily Archives: February 7, 2012
EUR/AUD Analysis
(1,2215) EUR/AUD confirmed further weakness and a new low at 1,2133 before bouncing higher. Still possible further weakness toward the 1,20 area while below 1,2270 on daily closing!!
Technical Analysis: USD-TRY at strong support
USD-TRY is at a strong support zone with a high risk of an upward reversal. Gold has broken down from its ending diagonal and the structure of the initial fall suggests more weakness to come. Stocks are at the upper limits of the bear market rally from October but EUR-USD may have another short-term rally […]
Currency Weekly: Antipodean tipping point
The return of ‘risk on’ has helped propel both AUD and NZD much higher over the past two months, and both are now at record levels on a real effective basis. The mistake is to view them simply in the context of commodity price dynamics and the risk mood.
FX Ringside
Don’t blame BOE if sterling weakens In October the Bank of England (BOE) announced its decision to increase the Asset Purchase Facility (APF) by GBP 75bn to GBP 275bn for a period of four months ending only a few days ago.
Bond Analysis
German government bonds trading higher Tuesday, amid risk-off trades and after release of much weaker than expected German industrial output data. March Bund futures opened higher on risk-off trades as uncertainties in Greece continued to prevail and then squeezed higher in light volume.
UBS Morning Adviser America
No Change in CHF Stance from SNB FX markets remain driven by headline risk with talks ongoing in Greece. There were few major developments to hit the newswires however and it took a weak German industrial production print (which fell by 2.9%) to push the euro lower.
GBP/USD Analysis
Opened early Europe at $1.5802 stg0.8293 having extended its recovery off session lows of $1.5730 to $1.5841. Rate drifted off to $1.5805 in early Asian trade before recovering back, getting a kick up to $1.5832 into the RBA unchanged rate decision, as risk got a boost.
EUR/USD Analysis
Opened early Europe at $1.3105, closed in NY at $1.3130, after recovery off earlier Monday session lows of $1.3027 was given a boost through European closing fixes to a high of $1.3142, closing any chart gaps left after rate was marked down into Asian trade Monday.
JPY Analysis
Opened in early Europe at Y76.71 and Y100.55, in Asia at Y76.55 after lows in NY of Y76.51. Some heavy sales were seen in yesterday’s session but the pair maintained a hold above Y76.50 and again this morning with semi-official names seen providing the support.
EUR/JPY Technical Analysis
(100,77) The EUR/JPY confirmed a further session of consolidation interior the inside day with 100,85 – 99,15 still the levels to follow. While above the 200 hours line at 100,53 we expect this cross to confirm a 101 overshooting!!
Behavioral Finance: Daily Forex Outlook: Can Greece save more?
EUR USD (1.3110) Yesterday yet another deadline set for Greek politicians to concur on austerity expired and news circulated that the Greek PM has instructed the Finance Ministry to calculate the costs of a eurozone exit. The euro, however, resolutely stuck to a range set mid last week.
Gold Analysis
Spot gold prices have gained 0.25% Tuesday, as the metal looks to break two consecutive down sessions. Prices extended down to a low of $1712.13 during Monday’s session, with hopes evaporating for any imminent quantitative easing from the U.S. Federal Reserve after better than expected U.S. jobs data surprised markets on Friday.