Forex Market
FX Daily Strategist: Europe
New Year rally fades; range trading likely ahead of Friday’s NFP The risk-on momentum that rang in the New Year dissipated on Wednesday despite the higher revision of the Eurozone Services PMI. In fact, EUR remains weighed down on the crosses with EURAUD falling to new record lows and EURJPY nearing 12-year lows as consolidates […]
GBP Analysis
Opened early Europe at $1.5599 stg0.8280 the rate having settled between $1.5590/1.5646 after marking lows at $1.5580. Despite the pullback GBP enjoyed an underlying buoyant tone, aided by EUR/GBP squeezing down to NY session lows of stg0.8264, with rate managing to hold for the most part above $1.5600 into the NY close.
JPY Analysis
Opened in early Europe at Y76.73 and Y99.12 in what proved to be another very quiet session with the pair failing to break out of a Y76.65-78 range. Further pressure built on the euro-yen after the Tokyo fixing, with the pair falling from early highs of Y99.35 to Y99.09 before strong Japanese bids ahead of […]
EUR Analysis
Opened early Europe at $1.2916 EUR/USD closed in NY at $1.2945, after recovering off session lows of $1.2898 to $1.2955. Rate marked Asian session highs at $1.2946 in early trade before turning lower, the move to session lows of $1.2911 given an added shove as PBOC fixed yuan at 6.3115, up sharply from Tuesday’s 6.3001.
ADP Employment, ISM Non-manufacturing head agenda
After a rather dull day yesterday where the highlights were a rise in US Factory Orders and decelerating Eurozone consumer price inflation we kick it up a notch today with a full calendar, including ADP Employment Change and ISM Non-manufacturing from the US.
UniCredit EEMEA Daily
News BG: Neutral – FX reserves up 1.1% mom in December (p2) CZ: Mixed – Government sells CZK 8bn of CZGB 2.75/14: bid/cover ratio 2.03, avg. yield 1.95%, (p2) HU: Negative – Sharp sell-off amid ongoing uncertainty regarding external assistance (p1) KZ: Mixed – President issued a decree that the state of emergency in the […]
Market Preview – 5 January 2012
Forex Overnight: EUR trading weak The EUR is trading under pressure against most of the major currencies, this morning, amid rising concerns about the ability of the European governments to refinance their public debt, and ahead of the €8.0 billion French bond auction later today.
GBP Analysis
Closed in NY at $1.5622, the rate having settled between $1.5590/1.5646 after marking lows at $1.5580. Despite the pullback GBP enjoyed an underlying buoyant tone, aided by EUR/GBP squeezing down to NY session lows of stg0.8264, with rate managing to hold for the most part above $1.5600 into the NY close.
EUR/USD Analysis
Closed in NY at $1.2945, after recovering off session lows of $1.2898 to $1.2955. Rate marked Asian session highs at $1.2946 in early trade before turning lower, the move down to session lows of $1.2911 given an added shove as PBOC fixed CNY at 6.3115, up sharply from Tuesday’s 6.3001.
Asian Market Summary
Regional equities mostly a tad higher in cautious trade as investors remain wary over Europe’s debt crisis; the Nikkei falls 0.8%, the S&P/ASX drops 1.1%, the HSI adds 0.4%, the Kospi is flat, the Sensex advances 0.3%, the Shanghai Composite increases 0.2%, and Singapore’s STI adds 0.7%.
AUD Analysis
A softer tone for risk appetite meant the AUD was slightly weaker late in the local session Thursday but remains within its recent range as dealers wait on the results of a French debt auction due later. Paris is seeking to raise up to EUR8.0 billion in a scheduled tender which traders say will set […]
JPY Analysis
Opened at Y76.72 in Asia in what proved to be another very quiet session with the pair failing to break out of a Y76.65-78 range. Further pressure built on the EUR/JPY after the Tokyo fixing, with the pair falling from early highs of Y99.35 to Y99.09 before strong Japanese bids ahead of Y99.00 stops deterred […]