Forex Analysis

EUR Mid-day Analysis

The Euro has managed to get some slightly supportive economic dialogue overnight from

The Swiss is partially lifted by residual weakness in the Dollar but

The Yen is short covering off fears that the global deflationary spiral could become

We view the Dollar as suspect after taking in this week’s action. Given somewhat positive data yesterday,

Not surprisingly, the Canadian has become the worst place to

The Pound continues to extend a month long consolidation pattern but

The BR hikes by 100bps, does not stop rouble´s fall. No contagion of rouble’s sell-off seen in Central Europe

As oil prices fell further, oil currencies have underperformed.

LTRO repayments are due around noon. Banks took EUR130bn yesterday on the second TLTRO but

The German 10-year yield initially hit new lows at around 66bp, but rebounded a bit later to end the day only marginally lower.

The pair closed in NY at $1.5733 after rate had recovered off earlier traded lows of $1.5652 to

The pair ended NY session at $1.2410 after having dealt a range of $1.2370 to $1.2495.