Forex Analysis
Weekly CFTC Trader Positioning Data
• Sentiment continues to diverge with building bearish EUR andJPY positions and steadily bullish AUD, NZD, MXN and GBP holdings.
EUR Mid-day Analysis
The Euro managed some fairly impressive action in the wake of the widely anticipated easing moves.
CHF Mid-day Analysis
Now that the Swiss has survived the ECB easing move it is possible that the June Swiss will manage torespect consolidation support of 1.1147.
JPY Mid-day Analysis
We would not expect the Yen to show much direction today unless the US numbers are better thanexpectations and then the Yen might see some modest pressure.
USD Mid-day Analysis
We are surprised that the Dollar is tracking higher this morning as overnight economic data points fromthe Euro zone and the UK were positive and
CAD Mid-day Analysis
The charts look to favor the bear camp in the Pound given the pattern of lower highs this week.
GBP Mid-day Analysis
Talk of tightness in the UK jobs market, favorable Euro zone and German data and hints that the PBOCis poised to cushion its economy should leave the Pound pointing upward.
Central European Daily
Measured reaction to the ECB decision The Czech industry posts another excellent result Like the core markets, also the Central European markets have been digesting yesterday´s decision of the ECB.
The Global Macro Pulse
EM Asia FX was the main mover today, led by a surprise 85pip fall in the USDCNY fix to 6.1623, its lowest level in over two weeks.
FI Eye-Opener: ECB delivers, will payrolls?
The ECB delivered its easing package yesterday (see more below), and the initial market reaction was higher long yields, a steeper curve, a rally in peripheral bonds and a weaker euro.
FX Daily
The US job report will be the main focus today. We expect an increase in non-farmpayrolls of 250,000 but see risk of a pay-back from the extra strong April figure.
EUR/USD Analysis
The pair fell to a low of $1.3503 during European trade last night in response to the initial statements in ECB President Mario Draghi’s press conference but