Forex Market
GBP Analysis
Cable closed in NY at $1.5957 after trade in NY was contained within a range of $1.5930/75, and it had recovered from an earlier European dip low of $1.5895. Rate again closed above its 200-dma, yesterday at $1.5899-today $1.5897, and was seen keeping the recent buoyant tone in place though upside progress seen thwarted by […]
JPY Analysis
Opened in Asia at Y81.12 and headed higher from early lows of Y81.08 on general yen selling, led by EUR and AUD cross buying. Dollar pushed up to Y81.20 on model related buying tied to momentum sales of yen against the KRW, and built steadily higher on EUR/JPY demand, tripping CTA stops through Y81.40 to […]
EUR Analysis
EUR/USD closed in NY at $1.3310, off pullback lows of $1.3282 (seen after the ISDA decision on no credit event for Greek swaps). Rate edged higher in early Asian trade, the move influenced by EUR/JPY demand into the Tokyo fix, with rate touching a high of $1.3333 before momentum faltered in the cross and allowed […]
Behavioral Finance: Daily Forex Outlook: Oil is the market’s tinderbox, not Greece
EUR USD (1.3300) The decline in bond yields in Spain, France, and particularly in Italy (where it is reported that as much as one quarter of the LTRO2 money went) testify to the success of the ECB’s lending operation.
GBP/USD Analysis
Closed in NY at $1.5957 after trade in NY was contained within a range of $1.5930/75, after rate had recovered from an earlier European dip low of $1.5895. Rate again closed above its 200-dma, yesterday at $1.5899-today $1.5897, and seen keeping the recent underlying buoyant tone in place though upside progress seem thwarted by EUR/USD […]
EUR/USD Analysis
Closed in NY at $1.3310, off pullback lows of $1.3282 (seen after the ISDA decision on no credit event for Greek swaps), but more importantly above the 100-dma at $1.3296 (today $1.3290).
AUD/USD Analysis
Opened at $1.0805 in Asia and headed up to $1.0818 on the back of AUD/JPY demand from Tokyo names, before meeting model fund supply and some profit taking from corporates.
USD/JPY Analysis
Opened in Asia at Y81.12 and headed higher from early lows of Y81.08 on general yen selling, led by EUR and AUD cross buying. USD pushed up to Y81.20 on model related buying tied to momentum sales of yen against the KRW, and built steadily higher on EUR/JPY demand, tripping CTA stops through Y81.40 to […]
GBP Analysis
Cable closed in NY at $1.5919, having been pulled to a session low of $1.5905 by the deeper EUR/USD fall as markets reacted to Fed Bernanke comments countering speculation for QE3. Rate closed above its key 200-dma level at $1.5902 (today $1.5899) and was seen keeping its recent underlying buoyant tone in place.
EUR/USD Analysis
EUR/USD closed in NY at $1.3325, off pullback lows of $1.3315 and seen after rate was sold down in reaction to Fed Bernanke comments, or rather no reference to possible Q3. Rate marked lows in Asia at $1.3318 in opening trade before pushing higher, the move seen influenced by cross yen demand, which in turn […]
JPY Analysis
USD opened in Asia at Y81.15 this morning after a strong rally yesterday following Fed Bernanke’s testimony which dampened any hopes of QE3. Tokyo names and a firmer euro helped a rise to Y81.40 in early trade before exporters and investors seized on the opportunity to unload some longs, pushing the pair back down through […]
FX Daily Strategist: Europe
Big LTRO elicits little excitement; FX market reacts more to little from Bernanke The EUR 529bn allocated at yesterday’s second 3-year LTRO was a little higher than our estimates of 400-500bn, and not significantly greater than market expectations of 470/500bn.