Daily Archives: February 16, 2012
US Market Review
The USD fell against the euro Thursday following reports that some of Europe’s national central banks may be willing to swap their Greek debt holdings, and European leaders are on track to approve money aid to Greece next week.
Behavioral Finance: Daily Forex Outlook: The endless tug of war on Greece
EUR USD (1.3010) Although it has been announced that the next Eurogroup meeting on Greece, scheduled for Monday, is likely to deliver a deal on the second bailout package, the markets are reluctant to believe that the crisis is heading for closure.
Daily FX Technical Strategy: EUR/USD changes trend
The speed of the USD snapback yesterday caught us by surprise even though we were wary of renewed USD profit taking at lower levels. Unlike earlier in the week, this time the turnaround has caused chart damage to the 2012 downtrend.
FX Daily Strategist: Europe
Greece/Eurogroup uncertainty now reigns Risk is back under pressure. The positive start to the year in global equities and in the likes of AUD, NZD and SEK in FX markets suggested a level of complacency about the Greek crisis: the sense has been that markets have assumed that through all the bluster and posturing, when […]
Technical Analysis – FX Daily Majors
Today’s highlights: · EURUSD: Break below 1.3026 chart support and the 38.2% retracement of 1.3054 keeps the focus skewed lower to the 1.2889/54 chart/61.8% retracement support zone · AUDUSD: Topping structure in place with threat lower to the trend line from late 2011, now 1.0629/45. Through confirms a more notable reversal for 1.0527
FX Market Technical Research
EUR/USD remains under pressure and we look for 1.3000 to be eroded soon. This will leave the market directly offered and on course for 1.2891/54 (61.8% retracement of recent leg higher) then the 1.2624 January low.
Technical Analysis
A lot of events since yesterday morning. Risk appetite on the defensive with VIX rising (up from a higher low) and EZ worries back on the frontpage. The common currency is again under increasing pressure and EURUSD is checking key support levels,
Gold Analysis
Spot gold has headed down in Asia this morning weighed by ongoing Greek debt concerns, Moody’s announcement that it was reviewing 17 major global banks, weaker equities and a general risk off sentiment following last nights dovish FOMC minutes.
UBS Morning Adviser Europe
Brinkmanship Continues The euro extended its weakness during the Asia session overnight as investors continued to express concern over the failure of Eurozone authorities to secure an aid package for Greece before bond redemptions are due.
Crude Oil Analysis
Nymex crude prices continue to build higher with the March US WTI contract holding firmly above the $100 level for a third consecutive close. Asian markets have seen some slippage this morning as the EUR/USD and equity markets slip back on Greek concerns, dovish FOMC minutes last night, and this morning announcement that Moody’s was […]
Australian jobs data looks strong – but details not so impressive
The Australian employment report for January was the highlight of today’s Asian session and produced a strong response to an above-forecast headline. The Australian economy added a total of 46.3k jobs in January, well above expectations of a mere 10k increase and the AUD responded accordingly with the 40 point jump versus the greenback.
AUD/USD Analysis
Opened at $1.0696 in Asia having fallen back yesterday from highs of $1.0776 following comments from PBOC’s Zhou. Doubts over the Greek debt deal and dovish FOMC comments sent the AUD/USD lower throughout the rest of the day to $1.0681 lows in NY, and the pair continued to slip in early Asian trade to lows […]