Daily Archives: February 8, 2012
Crude Oil Analysis
Nymex WTI crude prices are heading back up towards the $100 a barrel level this morning, with the March crude consolidating strong gains seen yesterday in NY, following the resumption of some risk appetite in equities and the EUR/USD on optimism of closure over the lingering Greek debt deal.
AUD/USD Analysis
Opened in Asia at $1.0805 having consolidated the earlier sharp jump following the RBA’s announcement to leave rates on hold which caught the market wrong-footed, and led a sharp rally to highs of $1.0822 in Europe yesterday.
USD/JPY Analysis
Dollar opened in Asia at Y76.77 after NY highs of Y76.97 and as with yesterday 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 through Y77.00, to Y77.10.
Asian Market Summary
EUR opened on a firm footing in Asia after progress was made yesterday in the Greek debt swap deal on confirmed reports that an austerity agreement was being drafted and would be presented to the cabinet today.
UBS Morning Adviser Asia
New Deadlines For Greece Despite the lack of fresh news out of Greece markets were willing to overlook this week’s round of negative headlines and push the euro higher. Risk also got a boost from strong US Consumer Credit numbers.