Monthly Archives: February 2012
Technical Analysis
Not overly much is cooking out there at the moment… Well the yen is weaker with USDJPY seemingly headed towards a key 80.25 ref… EURUSD printed a bearish candle yesterday but directional clues are anyway weak within 1.3145\1.3322…
Technical Analysis: Ding ding
For technical analysts, it’s not the news that matters; it is how the markets react to the news that counts. We have been warning that the markets are poised for a “risk-off” phase and the price action over the next few days should provide valuable evidence to see if the bell has been rung on […]
Gold Analysis
Spot Gold prices are holding firm in Asia this morning after the metal rose almost $30 yesterday from $1731 to $1760. The metal edged up minutely to $1760.13 in early trade today before easing back to $1754.15, but remains supported by firmer Oil prices, a weaker USD Index and the positive albeit tentative Greek/EU debt […]
EUR/USD Analysis
Closed in NY at $1.3233, with early demand into Asian dealing taking it up to highs of $1.32499. Rate reversed to $1.3211 before recovering in steps to $1.3240 into the European open.
UBS Morning Adviser Europe
PMIs Due The relatively benign risk environment continued overnight with the dollar better bid in the Asian session. USDJPY finally broke through 80 while the Nordic currencies outperformed again. The February China HSBC flash PMI improved to 49.7 although export orders were fairly soft at 47.4.
Crude Oil Analysis
Nymex crude prices continue to strengthen following the approval of the bailout package for Greece. Asian markets this morning have also helped up well despite some uncertainties arising over the debt deal, but concerns over Middle East tensions and a generally firmer commodity sector are generally helping to underpin the April WTI contract.
EUR struggles to extend gains in the Greek deal aftermath
With the Greek deal supposedly done and dusted, markets now have to find something else to focus on near-term and, judging by the ranges, inspiration is in short supply.
AUD/USD Analysis
Opened in Asia at $1.0660 after losing ground yesterday in Europe and NY from highs of $1.0750 to $1.0655, largely on some strong EUR/AUD buying despite firmer commodity prices.
USD/JPY Analysis
Opened at Y79.74 in Asia and after an early low of Y79.68 headed higher on cross demand particularly on euro and AUD/JPY buying which has steadily taken out a raft of offers and finally flushed the Y80.00 barrier tripping stops to a high of Y80.07.
UBS Morning Adviser Asia
Risk Rallies, Selectively The reception to Greece’s bailout deal was mixed on Tuesday. The euro was steady though did not break new ground as it was clear the fixed income market needs to brace for a Greece credit event.
Bond Analysis
German government bonds trading higher into the New York session Tuesday as Greece’s second bailout deal failed to convince markets. Whilst the deal averts risk of an early default, with Athens now able to repay its bond redemption for E14.44bln that is due on March 20, markets are seen remaining wary on the implementation risk, […]
UBS Morning Adviser America
Greek Deal Fails To Impress There were few signs of any relief rally in risk assets on Tuesday, following the Greek deal passed last night. The deal was well flagged and with several points of uncertainty, investors have been unwilling to chase risk much higher.