Forex Market
AUD/USD Analysis
Opened in Asia at $1.0615 after lows in NY of $1.0588. The pair has resisted falls seen in the EUR/USD, as the cross crashed off again from above the A$1.2400 level yesterday. Early AUD/JPY demand assisted an initial rally this morning in AUD/USD to $1.0632 before fixing supply in Tokyo pushed the pair back to […]
USD/JPY Analysis
Opened in Asia this morning at Y76.27 after lows in NY of Y76.15, and quickly headed back down to the level again following sales of EUR/JPY and AUD/JPY in the Tokyo fixing, as lower US yields weighed on the pair.
FX Daily Strategist: Europe
EU Summit passes without reaction, focus remains on prospects for Greek PSI+ agreement Yesterday’s EU Summit – the 16th of the last two years – did little to boost confidence. The focus was on agreeing the terms of the new European fiscal pact – and in this 25 of 27 EU nations have signed up […]
Behavioral Finance: Daily Forex Outlook : EU summit delivers, but fails to impact
EUR USD (1.3185) For some investors the latest EU summit disappointed in as much as it failed to top the €500bn ESM with more resources. To the extent that the summit delivered a ‘fiscal compact’ which can be a basis for further discussions on expanding the rescue vehicles, it is seen in a positive light.
Technical Analysis
Yesterday’s bearish EURUSD print is already questioned today, but over 1.3245 is needed to lift the (correctional) sight to the 1.34s… USDJPY is lower with lower US yields and may continue towards the Oct’11 75.30 low if/when US yields continue lower…
UniCredit EEMEA Daily
News BG: Neutral – Economic sentiments surge 3.3pp mom in January; PPI down 0.6% mom (p2) BG: Neutral – NBK to maintain current monetary policy framework (p2) RO: Negative – Local press reports that coalition parties will try to hike wages and pensions by “at most 5% if economic growth is in the 1.8%-2.3% range […]
USD/JPY Analysis
Opened in Asia at Y76.34 and saw some month-end demand into the fixing which lifted the pair to Y76.42 and dragged up the other JPY crosses. Demand then ebbed for the USD again and the pair headed lower again through the NY lows of Y76.21 to Y76.18, but any stops that we reportedly set on […]
AUD/USD Analysis
Opened at $1.0594 in Asia after lows in NY of $1.0527 as market risk sentiment wilted on Greek debt delays and widening Portuguese debt yields. However equity markets then rallied from earlier falls and real money demand led a solid recovery back into the close.
US FX Market Summary
The JPY surged to its strongest level in nearly five months against the dollar and rose more than 1% against the EUR Monday, as investors fleeing Europe’s debt crisis took shelter in Japan’s currency despite warnings from policymakers that yen strength was unwarranted.
FX Daily Strategist: Europe
EURUSD squeeze continues into weekend but Greek obstacles weigh at the start of the week The FOMC-inspired rally held its ground through Friday as US Q4 GDP came in on the soft side and in the absence of hard news headlines out of Europe; short covering and an evident desire to be long into the […]
Behavioral Finance: Daily Forex Outlook : The euro rally remains puzzling
EUR USD (1.3175) Although the euro has now completed a fortnight of impressive strength, traders can find little positive to say about it. In the headlines are, for example, the rising Portuguese yields, which reportedly indicate that investors are getting nervous about the losses they might have to take if Portugal gets the second bailout.
Technical Analysis
More general dollar weakness emerged Friday (contrary to our view of a potential end to the EURUSD reaction). The JPY strength accross the board, CABLE coming close to its key resistance in the 1.57’s, EURSEK closed bullishly above 8.9050 buy the dips for 8.98/99,