Forex Market
UniCredit EEMEA Daily
News HU: Positive – Foreign Minister Martonyi says government is ready to change disputed central bank law (p1) KZ: Mixed – NBK Marchenko says bank will keep 6-8% CPI target band / media reports suggest BTA CEO resigned (p2) PL: Positive – MinFin issues EUR750mn 5y Eurobond at MS+237bp spread (p1) RO: Mixed – Nov […]
SGD ANALYSIS
The SGD was slightly weaker against the U.S. dollar late Wednesday as investors eased off a recent rally in risk appetite ahead of key events in the debt-stricken euro zone. Analysts said market participants are awaiting a meeting later in the global day where Germany’s Chancellor Angela Merkel and Italy’s Prime Minister Mario Monti are […]
Technical Analysis
The correctional moves higher in EURUSD & EURGBP seem to be cut short. Back under 1.2720 & 0.8239 would strongly argue for fresh lows… EURSEK over 8.83 would correctively target ~8.85\8.87 and EURNOK added a potentially bullish print yesterday and a 7.6760 watch is warranted…
GBP/USD ANALYSIS
Closed in NY at $1.5484, after the rate failed to make any impression in attempts to push above $1.5500. Rate marked highs of $1.5490 into early Asian dealing before drifting lower, in line with EUR/USD slippage, before marking a low at $1.5447.
UBS Morning Adviser
The euro gave back most of yesterday’s gains during an otherwise quiet Asia session. EURUSD traded 1.2729-1.2793 and USDJPY 76.80-76.94. The recent barrage of Fed commentary continues. On Tuesday, officials sounded cautious on their overall views on the US economy, though there seemed to be diverging opinions on just how to proceed in the immediate […]
EUR/USD ANALYSIS
EUR/USD posted an early high of $1.2779 into Asian dealing before reversing tack, one trader suggesting that the EUR seen vulnerable as traders turn attention toward end of week Spain and Italy bond auctions, as well as the ECB rate decision Thursday.
Asian Market Summary
In FX markets, the EUR falls against the dollar and yen as investors believe pessimism toward Europe’s debt problems will keep weighing the single unit. The EUR/USD is at 1.2743 from 1.2778 late Tuesday in New York, the EUR/JPY is at 98.01 from 98.20, and the USD/JPY is at 76.91 from 76.84.
EUR stuck in limbo waiting for the next headline
Asia walked in this morning with most currency pairs at similar levels to yesterday, having flirted with both highs and lows outside the previous day’s ranges during the overnight session. Sentiment favoured an early stop-loss hunt through 1.2740 in EURUSD (overnight low) but once that was accomplished it was back to range-trading with little in […]
Market Analysis
The EUR was lower in Asian trade as investors were reluctant to buy the single currency despite modest gains Tuesday after successful European bond auctions, while many traders were cautious ahead of upcoming Italian and Spanish auctions and the European Central Bank’s policy-setting meeting Thursday.
JPY ANALYSIS
Yet another uneventful session for the USD/JPY in Asia as the pair continues to wallow in very tight ranges. Exporters offers from Y77.00 continue to thwart any rally attempts and talk of bids layered from Y76.75 down to semi official bids ahead of Y76.50 discouraging any sell-offs.
AUD ANALYSIS
The AUD dipped slightly lower on Wednesday, thanks in part to some concerns ahead of Spanish bond and Italian T-bill auctions later in the week. Further hitting perceptions about the Australian currency, which tends to climb along with global equities as a gauge of general investor sentiment, Fitch Ratings said Italy is the biggest threat […]
America Market Analysis
EUR/USD – starting to show on the radar screens is Thursday’s ECB policy meeting with traders and analysts chewing the cud over whether or not the ECB will trim rates again by 25bps, as it did in November and December.