Forex Market
IMM CFTC: EUR shorts hits fresh record levels again
Investors and speculators continued to sell Euros into the new year and it has now become an issue of selling the European currency against most other currencies. Last week an additional 11.03K contracts were sold bringing the net EUR short position to a new record of -127.9k contracts, the equivalent of EUR 16 billion.
European Market Analysis
EUR/USD – traders report that an Asian sovereign sold in the region of E200mln between $1.2740/50, which helped to put an early cap on the recovery at $1.2750. Sales said to have been profit taking, Asian sovereign was a noted buyer into early Europe, with overnight USD sale interventions also noted in respective Asian currency […]
Technical Analysis
Euro ended last week on a slippery slope with the ECB Eur index ending below its key support, EURUSD ending below the 1.2860 key junction and EURJPY trading at an 11y low. French 10y OAT’s at dangerous levels, threatning to break and trigger a substantial rise in yield,
GBP ANALYSIS
Closed in NY at $1.5430, off traded lows of $1.5376, opening into Asia at $1.5420 as it too was marked lower into the session along side EUR/USD (negative EUR comments in the weekend press). GBP was pressed to early lows in Asia of $1.5389 before recovering through the remained of the session, edging to a […]
Market Preview – 9 January 2012
Forex Overnight: EUR trading weak The EUR is trading lower against its major counterparts, this morning, with markets keenly awaiting the outcome of the meeting between German and French leaders and the German industrial production data later today. Additionally, reports over the weekend suggesting that the International Monetary Fund was losing confidence in Greece to […]
EUR ANALYSIS
Closed in NY Friday at $1.2720, off lows at $1.2697, and was marked down at the Asia open to $1.2695. Rate was seen under pressure into Monday’s market open as traders reacted to weekend comments that the IMF is losing confidence in Greece and a Germany advisor reported saying that Greece has already defaulted. Stops […]
Morning Adviser Europe
Franco-German Summit Ahead by Gareth Berry The dollar added to Friday’s post-payrolls gains as the Asia session got underway overnight, although note that liquidity was thinner than usual with Japan on holiday. EURUSD fell to a new 15-month low of 1.2666 before steadying, and a half-hearted recovery is underway at the time of writing.
Greece back in the headlines, piling more pressure on the EUR
Weekend news added more pressure on the EUR as Asian markets opened with local Greek press reporting that the Private Sector Involvement plan (PSI) discussions were very difficult and not progressing well with rumours circulating that the International Monetary Fund is now pushing for a forced debt restructuring and an 80 percent haircut for bondholders.
BUND ANALYSIS
Bunds and gilts may start mixed or a little higher Monday as investors remain in cautious gear ahead of the meeting between Merkel and Sarkozy amid more concern about the eurozone’s viability.
Market Analysis
The EUR fell to a 16-month low of $1.2666 against the USD and a fresh 12-year low of Y97.280 against the JPY amid growing concerns over the ability of European leaders to contain Europe’s sovereign-debt crisis.
Market Analysis
A combination of strong U.S. employment data and relentless fears about Europe’s debt troubles sent the EUR tumbling Friday to a new 15-month low against the USD and its weakest level in 11 years against the JPY. The common currency shed more than 2 cents on the week, reversing sharply from a relief rally that […]
European Market Summary
Markets have been pretty much on hold Friday ahead of the U.S. nonfarm payrolls report. Data on hand painted a depressing picture, Halifax reported UK house prices fell 0.9% in Dec, the euro-zone unemployment rate stuck at 10.3% in Nov, while for the same month German industrial orders fell 4.8%.