Daily Archives: February 14, 2012
FX Ringside
This latest edition of FX Ringside has been updated and improved, and is presented in a new, more effective format. We have expanded the Week Ahead page to include most G10 currencies together with their Eastern European counterparts.
UBS Morning Adviser America
USDJPY Marches Higher After opening with a heavy tone, markets recovered somewhat in Europe and the euro grinded back towards its opening level. A Strong ZEW print helped sentiment, while Spanish and Italian auctions were taken favourably by the market.
JPY Analysis
Opened at Y77.57 after recovering from lows of Y77.40 in NY and came under pressure as EUR/JPY sales emerged on the back of downgrades from Moody’s over 9 European sovereigns.
GBP/USD Analysis
Opened in early Europe at $1.5706 and stg0.8370. Opened at $1.5768 in Asia after being under pressure in NY on fading risk appetite. The Asia session opened to further rating news (after S&P and Fitch both announced downgrades to Spanish banks yesterday afternoon) with Moody’s downgrading ratings of 6 European sovereigns.
EUR/USD Analysis
Opened at $1.3185 after being ground down in NY on downgrade announcements from Fitch and S&P. Asia opened to further rating news from Moody’s that 9 european sovereigns would be adjusted. Euro triggered stops through $1.3180 and $1.3150 on sales from Russian and momentum names despite demand from an Asian sovereign.
Bond Analysis
German government bonds trading lower Tuesday following release of much stronger than expected German ZEW business sentiment survey. Mar Bund futures opened higher on a risk-aversion bid after Moody’s late yesterday downgraded six eurozone countries and as concerns grow over Greece’s PSI deal.
Behavioral Finance: Daily Forex Outlook: Inflation is no bar for new QE
EUR USD (1.3165) With the BoJ yesterday setting an inflation target (one percent) even lower than the one set by Fed, it seems the markets are being primed for another round of coordinated easing globally. After all inflation levels in eurozone, the US and Japan are contained, so that they will unlikely pose a hurdle […]
Daily FX Technical Strategy: Bid USD is facing strong resistance
Investors appear to be falling for the USD, but they are not totally smitten. Overnight the dollar has ralllied within its recent trading range, reinforcing the profit taking signals that we noted yesterday.
Technical Analysis – FX Daily Majors
Today’s highlights: · USDJPY: An “outside” pattern already today (bullish?) aiming for key 200-day MA at 78.05 and then range resistance at 78.31. Above secures firmer Q1 base · EURUSD: Hinting at a small top, but still needs a close below 13-day EMA, 1.3125, to aim for 1.3026 next. Through here confirms
Technical Analysis
It looks like EURUSD is flipping back into bearish so keep an eye on action after the opening hour today if there is more selling going through we think AUDUSD & GBPUSD will lead by example (1.0640 & 1.0615 and 1.2626 are key refs in those)…
Grude Oil Analysis
Nymex WTI crude prices are holding firm this morning In Asia after picking up yesterday as a technical glitch forced the Globex to shutdown which prompted traders to switch to the Nymex.
Gold Analysis
Spot gold is heading lower this morning weighed down by fresh Eurozone concerns following rating downgrades by Fitch, Moodys and S&P of a number of sovereign european states. The metal has slipped down through yesterday’s lows of $1716.25 to $1715 this morning after opening the session in Asia at $1722.30.