Daily Archives: February 17, 2012
Bond Analysis
German government bonds trading lower Friday amid optimism that the second Greek bailout package will be approved on Monday. Mar Bunds opened lower as risk-appetite improved with stocks higher after MNI flash China survey.
UBS Morning Adviser America
Risk Stable In Europe Following the flurry of headlines regarding the ECB’s role in the Greek debt swap yesterday, risk appetite was firm overnight, with expectations building for further progress over the weekend. The Financial Times reported that a decision on both the PSI deal and the new Greek bailout is said to be being […]
Behavioral Finance: Daily Forex Outlook: ‘Green shoots’ go unsung this time
EUR USD (1.3125) With early (at the time, unconfirmed) reports that Greek policymakers had been able to plug a €325 million budget hole, and that the ECB intended to swap its ‘old’ Greek bonds for new PSIexempt paper, the stage was set yesterday for a bailout deal on Monday and for a swift completion of […]
JPY Analysis
Opened in early Europe at Y79.14 and Y103.81. Opened in Asia at Y78.93 and has again consolidated previous day’s gains as it pulls well clear of the 200 day MA at Y78.04 broken on Tuesday.
EUR/USD Analysis
Opened in early Europe at $1.3118 Opened at $1.3130 in Asia having bounced strongly from NY lows of $1.2974 on talk that the ECB would swap its Greek bonds holdings for newly issued ones, prompted the start of renewed speculation that the Greek bailout deal would be signed on Monday.
GBP/USD Analysis
Opened in early Europe at $1.5795 and stg0.8304. Opened in Asia at $1.5800 after a strong pull up from lows of $1.5655 as NY opened. The pair launched a strong recovery as risk appetite built with cable lifting throughout the N. American session peaking at $1.5817, later easing to $1.5800 into the close.
Technical Analysis
EUR/USD – spiked in the support zone…EUR/JPY – up-thrust signal failed…USD/JPY – trying it above the 233d ma…EUR/SEK – cautiously watching 8.8520…USD/SEK – rejected from the 55d ma…EUR/NOK – knocking on the trap door.
Bond Analysis
German government bonds are opening lower Friday amid optimism that the second Greek bailout package will be approved on Monday. Risk-on sentiment returned late Thursday session on press speculation that the finishing touches are being made to Greece’s second bailout package and approval from eurozone finance ministers is likely at meeting on Monday.
Technical Analysis – FX Daily Majors
Today’s highlights: · AUDUSD: Upward trendline spanning from December lows holds strong, with the 1.0629 low intact. Rebound through 1.0779 implies a re-test of the 1.0847 high
Gold Analysis
Spot gold prices have built steadily higher in Asia this morning having been as low as $1705.40 in NY yesterday. The metal has pulled away from the “drop zone” at $1700 when solid support arrived towards last Friday’s lows of $1704.70.
UBS Morning Adviser Europe
USDJPY Rally Continues The euro held above 1.31 overnight, after a strong rally in yesterday’s US session. It received a strong boost from unconfirmed reports that the ECB is planning to swap its current holdings of Greek bonds for newly-issued bonds. Reports suggest that the new bonds will have the same features as the old […]
Crude Oil Analysis
Nymex crude prices crept higher yesterday and have consolidated gains overnight in Asia as risk appetite returns on hopes that the Greek bailout will be agreed by the EU on Monday.