Forex Market
Daily Forex Outlook
No new era for the euro EUR USD (1.2790) The upside data surprises in the US payrolls data should, intuitively, have led to a ‘risk on’ sentiment and a dollar fall, according to traders. The euro decline therefore led many to dwell on the onset of a new era for the currency – one where […]
UBS Morning Adviser America
We were stopped out of our AUDUSD shorts through 1.0280 last night as the pair’s grind higher in the wake of positive retail sales data continued, from 1.0145 at yesterday’s low to a 1.0324 high in Asia today.
JPY ANALYSIS
Opened in early Europe at Y76.81 and Y98.21, was largely a non-event in Asia with the dollar hemmed into another very tight range of Y76.78-91 after opening the session at Y76.83. EUR/JPY was equally uninspiring in a Y98.03-28 range with the main interest being the yen-antipodean crosses.
Tail wagging the dog in the interbank funding markets?
“One picture is worth a thousand denials” – Ronald Reagan The market still appears to be battling with the concept of ‘risk on’ meaning a higher USD, largely because it held the exact opposite relationship for most of 2011. Market activity remains surprisingly light and ranges surprisingly narrow given the magnitude and diversity of events […]
Overnight Wrap, Orderbook, Flow, USDAsia, Levels
1) Overnight Asia Wrap Despite negative euro data and the resignation of SNB chairman Hildebrand, the euro survived a relatively tame session in NY yesterday. China’s strong trade surplus in December, and German negative yields from yesterday’s auction have so far kept markets calm after the inconclusive Merkel/Sarkozy meeting, despite increasing possibility in analysts and […]
What matters today (Asia edition)
Developed macro 1. Market found some relief on the lack of specific negative news 2. Today, the Troika is returning to Greece. Meanwhile, EU Commissioner Rehn is addressing the European Parliament committee on Eurobonds. 3. Sharp deceleration is expected in Norwegian CPI inflation
European Market Analysis
EUR/USD – leveraged sellers cited for adding the extra weight to take rate through its overnight low at $1.2760, with stops adding to the selling to take rate down to $1.2748 ($1.2749 61.8% $1.2720/96). Rate currently trades around $1.2752
Technical Alert: Weaker GBP stronger AUD (& SEK). Lower GER yield.
The dollar index advance is temporarily halted & EURUSD could correctively test 1.2813\1.2860 and later resume the downtrend. Below 1.2720 would end this attempt higher… Bullish EURGBP print yesterday points higher towards somewhere above 0.83… AUDUSD bigger picture clouded but in a short-term ~1.04 lie within reach… EURSEK gap-opens lower.
UBS Morning Adviser Europe
Risk appetite nudged higher in Asia after China’s December trade surplus came in well above consensus. AUD and NZD advanced throughout the session and even the euro staged a modest comeback. Surprisingly, AUD was not held back by the very weak China import numbers which were the root cause of the wider trade surplus.
European FX Daily – Antipodeans lead rally vs. the USD
– Antipodeans lead rally versus USD – China’s trade surplus widens more than expected due to weak imports – AUD building approvals rose more than expected – More IP releases to watch across Europe today What to watch for today SEK: Softer IP. Consensus is for a 0.8% mom contraction in Swedish November industrial production, […]
Market Preview – 10 January 2012
Forex Overnight: EUR trading higher The EUR has advanced against most of the major currencies, this morning, amid optimism ahead of today’s meeting between the German Chancellor, Angela Merkel and the International Monetary Fund’s Managing Director, Christine Lagarde. In remarks following yesterday’s meeting, Merkel and Sarkozy indicated that they have made progress on an agreement […]
EUR/CHF ANALYSIS
The rate having traded to a low of Chf1.2106 Monday on reaction to the resignation of SNB Hildebrand, but large expiry interest at this level suggested to be providing some attractive influence over the rate for the time being, despite Jordan, a key supporter of the Chf1.20 floor, being put in as temporary head of […]