Monthly Archives: April 2012
JPY Analysis
Opened in Asia at Y82.52 and after a brief push up to Y81.67 fell back on more general risk-off sentiment led by crosses following the 1st round French presidential elections at the weekend and a break down in austerity budget talks in Holland.
GBP Analysis
GBP closed in NY at $1.6119 after rate had been pressured to a late session high of $1.6150. Rate traded the early part of Asia within a range of $1.6120/30 before getting pressed to a low of $1.6108, as EUR/GBP corrected its opening mark down from stg0.8185 to stg0.8176, before picking up fresh demand.
EUR Analysis
EUR/USD closed in NY Friday at $1.3215, off session highs of $1.3229, with rate marked down to $1.3180 into the Asia open as traders reacted to weekend events, namely the French election (first round won by Socialist Hollande) and the Dutch PM looking to salvage his austerity budget amid political chaos and seen putting the […]
Speculative Positions
JPY net short slightly trimmed SEB Risk appetite index (RAI) Risk appetite was more or less flat last week, congesting the rapid fall out of the risk neutral zone. Summary of the speculative accounts in the IMM part of the CFTC report for the period 4-10 April:
FX Daily Strategist: Europe
EURUSD posts two-week high, but eases as elections weigh Confirmation from the G20 gathering on Friday that additional IMF funding commitments amounted to some $430bn may or may not have contributed to the firmer EURUSD rate, including the push up through 1.3200 and to the pair’s best levels since April 4.
Technical Analysis – FX Daily Majors
Today’s highlights: GBPUSD: Soaring through our target area at 1.6064/90, to now eye the Q4 2011 peak, 1.6167, which we look to cap near term. But mid-Q2 risk is higher to our 1.6350 retrace target.
GBP/USD Analysis
Closed in NY at $1.6119 after rate had been pressured to late session high of $1.6150. Rate traded the early part o0f Asia within a range of $1.6120/30 before getting pressed to a low of $1.6108, as EUR/GBP corrected its opening mark down from stg0.8185 to stg0.8176, before picking up fresh demand.
UBS Morning Adviser Europe
RBA Poised To Cut The Australian dollar fell sharply overnight after Australian Q1 PPI inflation came in well below consensus. Our Australian economics team reacted by lowering their forecast for tomorrow’s headline CPI reading.
Gold Analysis
Spot gold is trading around $1542.50 in Asia this morning after a relatively flat end to last week with the metal trading a $1638.65-1647.35 range on Friday. There is little to stimulate direction at the moment with little of note from the G20 at the weekend as trader’s now look towards the forthcoming Fed statement.
Technical Analysis
Minor corrections running late, weaker NOK… EUR/USD Resistance cluster on top… EUR/JPY 233d ma high capping (?) NZD/USD Rechecking the flag exit… EUR/SEK Sitting at the 55d ma low… USD/SEK Looking for buyers… EUR/NOK More upside action awaited… NOK/SEK Support under pressure.
EUR/USD Analysis
Closed in NY Friday at $1.3220, off session highs of $1.3229, with rate marked down to $1.3180 into the Asia open as traders reacted to weekend events, namely the French election (first round won by Socialist Hollande, but Le Pen’s stronger than expected showing causing some concern) and the Dutch PM looking to salvage his […]
Crude Oil Analysis
June Nymex WTI crude prices are trading around $103.80 this morning in Asia having rallied as high as $104.68 on Friday with equities, but later fell back with some book squaring as the May WTI contract expired to close at $103.88.