Daily Archives: February 9, 2012
Crude Oil Analysis
Crude-oil futures rose Thursday after Greece agreed to an austerity package that would reduce concerns about the euro zone’s debt crisis. Crude prices were also helped by positive developments in the U.S., where a drop in weekly jobless claims boosted hopes that the economy of the world’s biggest oil consumer was on a recovery path.
UBS Morning Adviser America
£50 bn QE from the BoE As expected, the Bank of England delivered an additional GBP50bn in the quantitative easing programme. In the statement, Governor King noted that there were some more positive signs and a gradual strengthening of output should be supported by a gentle recovery in household real incomes but issues in the […]
Technical Analysis: Aussie uptrend weakening
The first signs of a crack in the AUD-USD uptrend are coming through. Five waves down on the hourly chart warn of further losses to come. Gold also has a bearish wave structure and USD-TRY is poised for an upward reversal. Open interest in S&P 500 futures is falling despite the rally, warning that a […]
FX Daily Strategist: Europe
Big day for the Euro – Eurogroup meeting and ECB to dominate The pace of the Greek saga is finally heating up as deadlines and schedules compress. Greek political leaders met late into the night saying there was no option but to come to agreement ahead of FinMin Venizelos’ early morning departure to attend an […]
Behavioral Finance: Daily Forex Outlook: Markets await last-minute Greek deal
EUR USD (1.3275) There is yet another Greek moment building up today. Given that the chairman of the Eurogroup Juncker has called a meeting on Greece and the IMF is included, the market is again anticipating some sort of endgame to be played out – after all, reports emanating from Greece suggest that only €300 […]
GBP/USD Analysis
Opened early Europe at $1.5828 stg0.8388, having recovered off a pullback low of $1.5797, seen as EUR/GBP extended its recovery to a high of stg0.8388. Rate was shoved down to extended lows of $1.5794 in early Asian trade,
JPY Analysis
Opened in early Europe at Y77.20 and Y102.67 Opened in Asia at Y77.04 after recovering from lows of Y76.71 in London yesterday on some heavy exporter selling. The USD held firm in Asia this morning after early falls were contained at Y76.99 and built higher with EUR/JPY to Y77.23 tripping some light stops en route […]
Gold Analysis
Spot gold prices are trading around unchanged levels Thursday, after prices declined sharply during yesterday afternoon’s session. Strong resistance was seen around the $1750 level and prices never recovered. $1725 provided an area of support on two separate occasions, once after the European equity cash closes and then again during Asian trading hours, with the […]
Bond Analysis
German government bonds opened lower Thurs as risk-appetite continues to improve on optimism of an agreement to Greek debt talks, despite disagreement on pension reform. Once again, Greek talks between the three coalition party leaders last night were adjourned without no agreement on accepting conditions new bailout program, with pension reforms said to be the […]
FX Market Technical Research
EUR/USD remains at the top of the 1.3280 range, leaving the dilemma over direction STILL unresolved. This move can be perceived as either a return to point of break out from the previous uptrend (see weekly chart on the next slide) or a break higher from a bull flag pattern.
GBP/USD Analysis
Closed in NY at $1.5820, having recovered off a pullback low of $1.5797, seen as EUR/GBP extended its recovery to a high of stg0.8388. Rate was shoved down to extended lows of $1.5794 in early Asian trade, as rate tracked EUR/USD negative reaction to the headline reports that Greek political leaders had failed to reach […]
Technical Analysis
Still an euro friendly environment with EURUSD remaining on a northern track, aiming ideally at the 1.34-area, EURJPY making a second attempt higher, holding potential for a 104.37 move, EURGBP forming a possible pressure cooker upside formation,