Forex Analysis
FX Quant and Positioning Weekly
Spec’s cut excessive bullish EUR position by more than half * Speculators slashed their previously excessively bullish EUR position by more than half.
Corporate Hedging Monthly – Monitor
The corporate hedging monitor is slightly less bullish EUR/USD than two months ago as a result of the EUR being less undervalued on a FEER basis.
Fed – ECB divergence: FX implications
A much stronger-than-expected payroll crowned a big week for two majormacro themes: Fed tapering; and EUR disinflation.
The Global Macro Pulse
Overnight Price Action S&P futures are down 0.2%. Friday’s yen weakness has supported a 1% rise in the Nikkei,
GBP/USD Analysis
The pair closed in NY Friday at $1.6017 after recovering from a post US NFP react low of $1.5957 to $1.6031 before it drifted off in to the close.
Time for Scandi inflation data
In Sweden our forecasts for CPI and CPIF inflation are weaker than the Riksbank expects. If right, it will put additional pressure on the Riksbank to cut the policy rate.
EUR/USD Analysis
The pair took a hit to a $1.3318 low Friday in the US after the dollar’s payrolls-driven rally. Euro-dollar however stopped short of a re-test of the post-ECB low of $1.3296 and
AUD/USD Analysis
Aussie fell to a $0.9352 low after Friday’s US payrolls data but started this morning on a slightly firmer footing at $0.9387.
USD/JPY Analysis
JPY ran foul of the dollar’s strong rally on Friday in the wake of the better-than-expected payrolls data, with dollar-yen clearing out offers at Y99.00 to trade a high of Y99.23.
Chart EUR/NOK, EUR/SEK, USD/NOK, USD/SEK Opening Summaries
EUR-NOK The sharp rally above strong hurdle at 8.2037 last Friday is setting bulls on firmer footing and
Markets Outlook – Dear Prudence
With the Reserve Bank intent on slowing house price inflation, who can ignore its six-monthly Financial Stability Report (FSR), due Wednesday 9am.