Forex Analysis
FX Daily
Market movers today • ECB’s Executive Board member Jörg Asmussen and Bundesbank President Jens Weidmann testify at Germany’s Federal Constitutional Court in Karlsruhe on ECB’s OMT programme today and
GBP/USD Analysis
The pair closed in NY at $1.5572 after rate had recovered off NY session lows of $1.5495 to $1.5587 before easing off into the close.
EUR/USD Analysis
The pair closed in NY Monday at $1.3256 after rate had recovered off a NY low of $1.3183 to $1.3269 before drifting off into the close.
Adjusting to Fed tapering
Big Picture: Asset markets have corrected recently and it has been very difficult for investors to find a hiding place apart from cash, as equities and bonds have sold off,
EURUSD – H&S top…fails
The head & shoulders top we tracked failed to resolve lower as expected and now the rising wedge has led to a move to key resistance via the double-bottom neckline.
Mid-Day FX Market Analysis
USD: The Dollar has started out this week with moderate gains, and continues to extend last Friday’s rebound from 31/2-month lows early in this week’s trading.
GPIF’s leading change in allocations
The Abe administration will not be happy with any further falloff in Japanese stocks or the USD/JPY ahead of the Upper House election on 21 July.
Central European Daily
Polish central bank intervenes in favor of the zloty … which suffers the effects of rising U.S. yields The National Bank of Poland has proved several times in recent months that one ought to be very careful about trusting its statements, and this has also been the case in recent days.
CFTC: USD exposure reduced
Hedge funds reduced their net long position in USD during the week ending June 4 according to the latest data from the Commodity Futures Trading Commossion.
Morning FX Market Commentary
Currencies: dollar succeeds only cautious rebound after the payrolls The dollar was under pressure ahead of the payrolls as currency markets feared a poor report. This fear was not justified as the report was slightly better than expected.
No good news from China
The Chinese economy is still struggling to recover and no good news came from the May data released over the weekend, suggesting that the economy will remain weak in Q2.
Scandi markets ahead
In this note we take a closer look at the main events in the three Nordic countries over the coming week. For our global macro movers and financial forecasts see Weekly Focus, 7 June 2013.