Forex Market
AUD ANALYSIS
Opened in Asia at $1.0378 after highs in NY of $1.0387 as the pair led yesterday’s risk rally following strong Chinese PMI data which led equities higher, supporting Gold and Silver, with Crude Oil also making solid gains on the back of further sabre rattling in the Gulf.
JPY ANALYSIS
Opened in Asia at Y76.73 and edged up to Y76.82 in early trade before EUR/JPY and USD sales from real money names combined to push the pair down to Y76.62. EUR/USD failed to maintain a foothold above the Y100 level falling to Y99.84 from Y100.25.
Asian Market Summary
EUR opened in Asia this morning at $1.3050 after highs in NY of $1.3077 following yesterday’s stronger PMI data from China and a rise in global PMI to 50.8 in December. Equities picked up as some tentative risk returned along with firmer crude prices on further tensions between Iran and the US.
Is this market just amateur hour or something more?
The most difficult aspect of trading beyond understanding what is going on in the market is timing. And it works both ways – when one’s view is wrong, is it simply a question of getting in too early, or is it a question of misunderstanding what is going on in the market? In other words […]
Market Analysis
Riskier currencies like the EUR and AUD rose in European trading Tuesday while the greenback was under broad-based pressure as the London market kicked off 2012 in a mildly upbeat mood, helped by a run of encouraging global economic data.
UniCredit EEMEA Daily
News CEE: Mixed – Turkey, Poland Dec PMI declines slightly whilst Hungary, Czech Republic managed to show some gains (p1) HU: Negative – Long end bond yields move above 10% amid ongoing uncertainty about IMF talks and biggest opposition protest since the 2010 elections (p1)
Market Preview – 3 January 2012
Forex Overnight: EUR trading stronger The EUR is trading higher against most key currencies, this morning, as an improvement in manufacturing activity in the major global economies, including China and Germany, boosted risk appetite amongst traders.
EUR/USD ANALYSIS
Opened Asia at $1.2935, marking early lows at $1.2933 before progressing higher. The move up was aided by Chinese data, stronger than expected manufacturing PMI released Sunday then supported by strong non-manufacturing PMI data, provided for risk appetite, with Australian AIG manufacturing index also proving strong as it moved back above 50.0.
Asian Market Summary
Regional markets are higher as an above-view reading of China’s official December PMI Sunday and gains in European bourses Monday boost investor sentiment; the S&P/ASX is +1.1%, the HSI is +2.1%, the Kospi is +2.7%, the Taiex is +1.5%, the Sensex is +2.0%, and the STI is +1.2%. Markets in Japan, China, New Zealand and […]
AUD ANALYSIS
Opened at $1.0234 and headed higher from the start of trading this morning as Asian bourses picked up and strong PMI data out of China, India and Australia all added to boost the AUD up through $1.0270 stops to a high of $1.0297.
Better Asian PMIs lift risk appetite as 2012 kicks off in earnest
Markets opened with a sputter Monday with only mainland Europe open for business. Those equity markets that were open rallied between 2-3% but the EUR still remained soft in thin trading with EURJPY pushing strongly through the 100 mark to hit a new all-time low just below 99.50. Other risk currencies fared better with AUDUSD […]
IMM CFTC: Speculators begin 2012 with record short Euro position
As 2012 begins the nervousness about the fate of the Eurozone continues. The latest data from the CFTC which was collected last Tuesday showed that speculators in increased numbers continue to express their negative views on the Eurozone by shorting the Euro. The negative Euro sentiment has now easily surpassed levels that were seen when […]