Monthly Archives: March 2012
UBS Morning Adviser Asia
Dollar Up, Oil Down The US dollar is back on the front foot, with declines in the major equity indices and oil prices weighing most conspicuously on the commodity currencies such as AUD and NZD. Apart from lingering concerns about slower growth in China, the Saudi Arabian Oil Minister’s assertion that output could be boosted […]
GBP Analysis
Cable closed in NY at $1.5891, off session highs of $1.5915, after rate had been pulled higher on the coat tails of euro-dollar’s stronger recovery, which allowed the cross to extend its recovery off lows of stg0.8283 to stg0.8343. Cable closed above its 200-dma (Mon $1.5861, today $1.5859) and seen supporting the pound’s underlying buoyant […]
EUR Analysis
EUR/USD closed in NY at $1.3240, having seen its recent recovery extend to highs of $1.32659 as the market reacted to the Greek CDS settlement, the EFSF sale of 20-year bonds and confirmation that the ECB is putting its bond-buying programme on the back burner.
UBS Morning Adviser America
Risk Stumbles Further Risk appetite was soft overnight as equity markets in the Eurozone sold off across the board. Ongoing concerns about growth in emerging markets may be playing a role, but in the wider context of asset market performance we still believe investors are now having trouble to justify further gains in the current […]
JPY Analysis
Opened in Asia at Y83.40 and after an early dip to Y83.35 edged up to Y83.50 in very quiet trade as Tokyo observed the Vernal Equinox holiday and remained in the range for the rest of the session. Crosses were quiet as well with EUR/JPY trading a tight Y110.29-49 range, and sterling-yen easing from Y132.62 […]
Technical Analysis – FX Daily Majors
Today’s highlights: · EURUSD: Near-term down trend reversal reinforced by probe above initial 1.3192 recovery target. A less negative tone, but only above 1.3292 shifts to a more positive bias
Daily FX Technical Strategy: Intraday clues for a dollar bounce-back
The dollar has tended to drift lower so far this week but we are not convinced this is a sustainable move. The correction in USD/JPY is taking on the shape of a bullish flag on intraday charts suggesting the uptrend is poised to resume.
Behavioral Finance: Daily Forex Outlook: Fed will remain pro-stimulus
EUR USD (1.3230) A warning by New York Fed President William Dudley yesterday that the recent US economic recovery, although gaining speed could just as easily stall, was a reality check for the markets.
FX Daily Strategist: Europe
Paradigm Lost? Treasury sell-off fails to support USD Just when the FX market was settling into its new paradigm of bond-yield watching, the spectacle of US Treasury yields shooting higher in the NY afternoon while the dollar heads lower is cause for some fresh soul-searching.
Bonds Analysis
German government bonds are trading higher Tuesday, taking cue from weakness in stocks and unsubstantiated market talk relating to ‘large demonstrations’ and ‘unusual troop movements’ in Beijing. The talk is a military coup has taken place and is largely on microblogs in mainland China.
GBP/USD Analysis
Closed in NY at $1.5891, off session highs of $1.5915, after rate had been pulled higher on the coat tails of EUR/USD stronger recovery, which allowed the cross to extend its recovery off lows of stg0.8283 to stg0.8343.
FX Market Technical Research
EUR/USD continued to rally yesterday, the near term rally is viewed as corrective, but we would allow for a return to the 1.3291/1.3325 region (9th February high), however we would again expect that to provoke failure.