Monthly Archives: April 2012
GBP Analysis
GBP closed in NY at $1.6021 after rate had extended Wednesday’s post BOE Minutes induced rally to $1.6043. Trade through the overnight Asian session was contained within a $1.6015/35 consolidation range.
JPY Analysis
Opened in Asia at Y81.26 and slipped to Y81.17 in early trade this morning following a smaller than expected Japanese trade deficit. A Xinhua article on the PBOC possibly boosting liquidity and buying from Japanese banks and a US leveraged fund led a bounce to Y81.55, before exporters surfaced and led a small dip to […]
EUR Analysis
EUR/USD closed in NY at $1.3123 after settling following a NY afternoon recovery to $1.31376. Trade through the overnight session was contained within a tight $1.3110/32 range, favouring the bottom end into early European dealing. Rate came under pressure into early Europe, as market probed for stops below the Asian base, taking the rate to […]
Behavioral Finance: Daily Forex Outlook: A less worrisome Spanish bond auction
EUR USD (1.3115) An apprehensive eye will be kept on the Spanish 10-year bond auction today as stress on the eurozone persists from the periphery. Statistics from Spain, such as the 3 percent decline in house prices in the last quarter and the 17-year high in bad debt on the country’s bank’s balance sheets keep […]
Bund Analysis
German government bonds are opening lower Thursday on profit-taking and also ahead of heavy slew of supply this morning from France and Spain for up to E13.5bln. Whilst the market will be focused on the Spanish bond auction, the French auctions have potential to upset, which come at a tricky time ahead of 1st round […]
GBP/USD Analysis
Closed in NY at $1.6021 after rate had extended Wednesday’s post BOE Minutes induced rally to $1.6043. Trade through the overnight Asian session was contained within a $1.6015/35 range as the pound consolidated Wednesday’s gains. Rate was trading around $1.6020 into early European dealing.
UBS Morning Adviser Europe
BoJ Drops Another Hint Trading was subdued in Asia overnight given a light economic data calendar, but investor attention is noticeably turning to what next week’s two policy meetings will bring. The FOMC and the BoJ policy decisions are likely to set the tone for USDJPY for months to come, and USDJPY is already creeping […]
FX Daily Strategist: Europe
Spanish auctions the litmus test – with the potential for a significant rebound on a good result The USD held strong against most G10 currencies while equities closed in a slump. With an empty US calendar and no headlines, inertia seemed to have carried the markets through the end of the NY trading day.
EUR/USD Analysis
Closed in NY at $1.3123 after settling back following a NY afternoon recovery to $1.31376. Trade through the overnight session was contained within a tight $1.3110/32 range, with rate favouring the bottom end into early European dealing.
Gold Analysis
Spot Gold prices slipped off again yesterday and again this morning in Asia. The dip yesterday from highs of $1654.50 to $1638 seen on the back of Spanish debt concerns and a fall in the price of crude oil, where a larger than expected build in crude inventories weighed on prices and dragged the metal […]
Technical Analysis
NZD, EM’s under pressure, GBP in demand… EUR/USD Congestion… GBP/USD 1.6063 key to development… NZD/USD Soon to exit the bear flag… EUR/SEK Closed below the 8.87 supp… USD/SEK Still bids in the 6.72/74-area… EUR/NOK Correction target met… NOK/SEK A bearish key day reversal.
Crude Oil Analysis
June Nymex crude prices fell back sharply yesterday amid concerns over Spanish debt and a much larger than forecast increase in crude inventories reported by the EIA in their weekly report. Analysts were looking for a build of around 1.8-2.0 million barrels with the EIA reporting a figure of 3.86mmbls.