Forex Market
USD/JPY Analysis
Volatilities implied by one-month at-the-money USD/JPY options are steady at 7.45%/7.75% from 7.30%/7.70% late Wednesday in New York, and lower from 7.65%/8.05% in Tokyo Wednesday, amid a stable spot. But downside appears limited as vols are already quite low, says an options dealer at a major Japanese bank.
Market Analysis
EUR/USD Continues to crater, tests $1.2900 area with a print or two possibly below. Stops sub $1.2920 added momentum and weak stock backdrop today damping some of the risk-appetite that materialized Tuesday. Other risk favorites also under pressure as stocks wilt and as positions are pared back in early new year chop. Further stops sub […]
EURUSD rally – now you see it, now you don’t
Yesterday’s EURUSD rally revealed that Euro shorts are rather heavy, but the on-going story continues to make it tough for the single currency to maintain any upside traction. EURGBP has hit a fresh 15-month low.
Market Analysis
EUR/USD barriers are back in focus as the pair continues to head lower. A break of the recent 1.2858 low could easily see the pair accelerate losses and the downward move to gather momentum, which would put reported barriers at 1.2850 under threat.
Market Analysis
EUR/USD – Low print was $1.2944 in small, $1.29448 in regular, a trader confirms, and pair has rebounded to $1.2960 as some see that dip as a buy opportunity, at least short-term. Bids eyed at 41.2900/10 area, just under the Monday lows seen in those few centers that were open.
USD/CAD ANALYSIS
USD/CAD briefly crossing a pivot point around C$1.0150 as the US dollar finds broad favor in the market. The CAD, under pressure amid a general shift in risk assets and retreating oil prices, was nonetheless outperforming its commodity and risk-linked cousins, as is its usual form when the greenback gains broadly.
Market Analysis
EUR/USD – Stops triggered through $1.2995/90 as funds add weight, traders say, with EUR/USD extending lows to $1.2978. Reported demand at $1.2975/70 so far remain untouched. A break of $1.2970 to expose next batch of stops, which if triggered to then open a deeper move toward $1.2950.
JPY ANALYSIS
Opened in Asia at Y76.73 and edged up to Y76.82 in early trade before EUR/JPY and dollar sales from real money names combined to push the pair down to Y76.62. EUR/JPY failed to maintain a foothold above the Y100 level falling to Y99.84 from Y100.25.
EUR/USD ANALYSIS
Opened early Europe at $1.3035 EUR/USD closed in NY at $1.3050 with early demand into Asia able to mark session highs at $1.3058 before rate reversed tack and squeezed lower. Japanese sales of EUR/JPY led the move lower but rate met good support between $1.3047/45.
More of the same in 2012? – A gentle start
“If you want to change attitudes, start with a change in behaviour” -William Glasser After trawling through half the number of overnight news headlines as usual it is obvious that the market has not returned in full from the holiday break and in that respect some of the moves over the last couple of days […]
Market Analysis
GBP – Gets some relief as UK construction PMi comes in stronger than forecast at 53.2, from Nov 52.3, with rate able to edge up from $1.5622 to $1.5632 on the initial react. Rate currently trades around $1.5627, holding off recently posted pullback lows of $1.5615.
Market Preview – 4 January 2012
Forex Overnight: EUR trading under pressure The EUR has weakened against most of the major currencies, this morning, ahead of the German and Portuguese bond auctions worth €5.0 billion and €1.0 billion, respectively, later today. Traders are also keeping an eye on the Eurozone consumer price inflation data slated for release today, which is expected […]