Daily Archives: February 8, 2012
ECB and BOE meeting previews
European Central bank meeting The last couple of days have brought shock economic releases from Germany that may lead one to fear that the economy is ‘falling off a cliff’. Consider for example today’s dreadful December figures for exports (-4.3 percent) and imports (-3.9 percent), coupled with yesterday’s shock 2.9 percent decline in Industrial Production.
FX Daily Strategist: US
Greece newsflow positive despite delays; ECB to determine EURs next move EURUSD has so far failed to make further substantial gains after breaking above technical resistance at 1.3244. While yesterday’s rally in EUR was fuelled by headlines that the Greek government was drafting an agreement on the bailout deal for political leaders to approve on […]
GBP: Sound as a pound?
The UK is weak, but recent data do suggest it has turned a corner and will not double dip. Nonetheless, the recovery will be gradual and a £50bn extension of the asset purchase programme by the MPC is expected on Thursday.
Behavioral Finance: Daily Forex Outlook: The euro breaks to the upside, finally
EUR USD (1.3245) The euro delivered an impressive performance yesterday. It broke out of the range set over the last two weeks and reached the highest level this year. Given that on Monday traders attempted to push the euro out from the congestion towards the downside, one must therefore interpret a tone of a short […]
Bond Analysis
German government bonds trading lower midday Wednesday amid optimism over a Greek debt/bailout deal. This optimism continues to dominate despite story that Germany’s Finance Minister Wolfgang Schaeuble is considering postponing the lion’s share of new Greece aid in order to keep pressure on Greek authorities to reform, according to the Financial Times Deutschland.
UBS Morning Adviser America
Greek Clock Keeps Ticking In the absence of major data releases and minimal news out of Greece, FX markets were relatively subdued overnight. Negotiations on Greece appear to be gaining momentum, however, as several outstanding issues are getting close to being resolved.
GBP/USD Analysis
Opened early Europe at $1.5906 stg0.8341 just off its recovery highs of $1.5906 seen as rate was pulled higher by EUR/USD stronger rally as market reacted to reports that a Greek debt deal was close to conclusion.
USD/JPY Analysis
USD/JPY opened in Asia at Y76.77 after NY highs of Y76.97 and continued to grind its way higher through exporter supply after an early low of Y76.75, taking out the NY high and some light stops to Y77.10.
EUR/USD Analysis
Opened early Europe at $1.3268, EUR/USD closed in NY at $1.3261, just off recovery highs of $1.32708 seen after the euro made strong gains on reports that a Greek debt deal was nearing conclusion.
GBP/JPY Technical Analysis
(122,60)The GBP/JPY confirmed a strong closing above the resistance of the positive outside day at 121,20 supporting further strength. Possible a direct extension of the move up toward the 200 days line, now found a 124,51.
EUR/CHF Technical Analysis
(1,2110) EUR/CHF confirmed a move above the neck line suggesting a possible extension of the move up towards a possible s/t target at 1,2142!! The indicators of the daily chart are already recovering above the line and also those of the s/t ones are in positive territory supporting higher levels.
GBP/USD Technical Analysis
(1,5920)The CABLE is confirming the expected overshooting of the 1,59 level suggesting a test of the 200 days line at 1,5940 with even a possible direct overshooting that could mean an overshooting toward 1,61.