Forex Analysis
The Global Macro Pulse
A quiet session in Asia ahead of the ECB meeting and US holiday. We observed some risk reductions in rates, but FX and equity were mostly rangebound.
It’s Not Time to Turn Bullish Sterling
UK data has been unambiguously strong recently, but we remain bearish GBP. First, similar to the yen, we don’t think outright growth matters for a currency,
Rates morning comment – ECB and BoE day
• Today’s menu is ECB, BoE and Spanish auction • Next step in Portugal is keeping the government together
GBP/USD Analysis
The pair closed in NY Wednesday at $1.5277 having seen a strong recovery off extended lows of $1.5130 to $1.5305 following the release of stronger than forecast UK services PMI data
USD/JPY Analysis
The pair ended in the US at Y99.91 and started in Asia with another brief foray above Y100.00, while the cross, which had closed NY at Y129.97,
EUR/USD Analysis
The pair closed in New York around $1.3009, after rate had recovered off a $1.2923 session low to $1.3032 before drifting off into the close.
Poland: This is the end
The Polish central bank cut the key policy rate by 25 bps to fresh record low level of 2.50%.
EURGBP to finally see resolution tomorrow
EURGBP needs to pick a direction after spending the better part of the last three months in a small range and spending more than six weeks of that between 0.8470 and 0.8600.
Mid-Day FX Market Analysis
USD: A strong set of economic data released yesterday along with a moderate “risk off” tone this morning has helped to push the USD just above the key 85.53 level
Central European Daily
NBP ready to cut rates to new historical lows Yesterday the zloty, the koruna as well as the forint strengthen in the morning, but it was only the Hungarian currency which retained its gains.