Monthly Archives: April 2012
UBS Morning Adviser Europe
USDJPY Consolidates USDJPY consolidated overnight as next week’s FOMC and BoJ policy meetings draw ever nearer. Our US economists are not concerned by the higher than expected initial jobless claims announced yesterday.
EUR/USD Analysis
Closed in NY at $1.3138 having recovered off lows at $1.3069 to $1.3152. Rate meandered its way up to overnight session highs of $1.31579 in Asia, driven mainly by cross flow. As this demand faded so rate drifted down to the lows of $1.31289.
Technical Analysis
NZD lower, Italy a must watch, EUR/USD Short term directionless… NZD/USD Ended below the bear flag… EUR/SEK Still bids at the 55d ma low… USD/SEK Something’s soon to break… EUR/NOK Bottoming out process… USD/JPY Taking a shot at resistance.
Gold Analysis
Spot gold is trading around $1643 in Asia this morning after a somewhat whippy session yesterday that saw a range of $1631.25-1654.00. The metal however remains rangebound in a wider $1610-1680 bracket and has been weighed down in recent sessions as usual physical demand from India has failed to surface despite the impending Akshaya Tritiya […]
Crude Oil Analysis
Nymex June crude oil furtures closed marginally lower yesterday but Asian markets have been steady this morning with WTI holding just above $103.00 after trading a $102.13-103.66 range in Europe and NY to close at $102.72.
AUD/USD Analysis
Opened in Asia at $1.0331 after trading a $1.0313-51 range in NY and was helped higher this morning by some early Japanese buying of AUD/JPY which pulled the pair up to $1.0345, before easing back on EUR/AUD demand.
High AUD takes its toll on Oz terms of trade
The end of the week and currencies barely changed from the kick-off on Monday was enough of an incentive for Asia to kick its heels today. Data releases were minor and currencies stuck to tight ranges.
USD/JPY Analysis
Opened in Asia at Y81.60 after trading a Y81.40-73 range in NY and headed up in early trading this morning on local cross demand in AUD/JPY and EUR/JPY to highs of Y81.71 running into a raft of offers and easing back to Y81.55.
UBS Morning Adviser Asia
USDJPY Holding Firm USDJPY extended its gains overnight and continues to look well supported even in the face of the rather soggy belowconsensus US data (initial jobless claims at 386k; March existing home sales down to a 4.48 mn annual rate; April Philly Fed manufacturing index down to 8.5) and declines in US equities, helped […]
EUR Analysis
Euro had lurched under $1.3100 as rumor of a French ratings downgrade provided fuel to flush stop-loss sell orders under $1.3100 but slide was arrested by option-related demand that emerged around $1.3070 and as market dismissed the rumor, euro recovering easily to $1.3100 on short-covering.
JPY Analysis
An early dollar rally across several pairs allowed USD/JPY to lift to Y81.74 around the ECB fixing, marking a marginal new high for the day, while euro weakness outpaced, sending EUR/JPY skidding to Y106.50 around the same time.
UBS Morning Adviser America
USDJPY Rise Continues The much anticipated Spanish auctions were largely uneventful. The treasury managed to sell EUR1.2 bn of the 2014’s and EUR1.42bn of the 2022’s – at the upper end of targets. The bid-to-covers were also reasonable at 2.42x on the 10 year bond.