Forex Market
EURO ANALYSIS
The EURO fell below the Y100 mark for the first time since June 2001 on Friday, pushed lower by continued pessimism toward Europe’s debt problems. At 1053 GMT, the single currency was at Y100.10, having dipped as low as Y99.96.
The winds of uncertainty swept through currency markets in 2011
2011 was not a kind year for mostly everyone involved in the currency markets. Traders generally depend on fundamental data to dictate directions in the forex market, but the uncertainty in Europe and the floundering global economic recovery were a recipe for daily bouts of volatility that had not been witnessed since the timeframe of […]
UK Morning Briefing
Forex Overnight: EUR trading weak The EUR is trading under pressure against the majors, this morning, ahead of a report scheduled for release next week, which is likely to indicate a slowdown in the Eurozone’s manufacturing sector in December. Yesterday’s lacklustre Italian bond auction has continued to weigh on investor sentiment. At 6 am, the […]
Better US data boosts risk appetite and caps the USD overnight
Another day spent in tight ranges during the Asian session after risk currencies rebounded overnight following an extended early sell-off. The final data releases for the year gave us the first indications of manufacturing activity for the Asia region in December. Following yesterday’s string of disappointments, Japan at least had something to cheer about when […]
European Morning Briefing
EUR/USD opened at $1.2961 in Asia after a bounce in the NY session from a year’s low of $1.2858. Weak demand in yesterday’s Italian auctions led a sell-off in thin market conditions, but the move proved unsustainable with short covering leading to a late rally and the EURO closing higher on the day.
New EURUSD lows: Italian auction or end of month/year fixing?
After several days of catatonic market “action”, volatility perked up yesterday and today with the Italian bond auctions and probably also due to an early start to end of month/year fixing flows in thin markets.
European Market Summary
The EURO lost more ground in Europe Thursday after a disappointing Italian bond auction, while core government bonds and equities headed higher. Italy managed to raise just over EUR7B, against a maximum EUR8.5B target, with yields some 50-100 basis points lower than at the last auctions.
UK Morning Briefing
Forex Overnight: EUR trading under pressure The Euro is trading lower against the majors, this morning, amid investor caution, ahead of the Italian long-dated bond auction worth €8.5 billion today. Moreover, a report released by the European Central Bank (ECB) yesterday, indicating that its balance sheet climbed to a record high level, has continued to […]
AUD/USD ANALYSIS
The AUD slipped Thursday ahead of a key Italian debt auction later in the day as trepidation about Europe continued to weigh on the risk-sensitive currency. The mood surrounding Europe was detrimental to more than just the AUD, with prices of equities and commodities in the region also falling sharply in a holiday-thinned day of […]
ASIA REVIEW
The EUR’s fall late Wednesday, which dragged down the AUD and Asian currencies including the SGD. markets were reacting to the report that banks deposited a record amount in the ECB’s overnight deposit facility, a sign that additional liquidity provided by the ECB isn’t being deployed to maximum effect to ease sovereign debt problems.
US MARKET SUMMARY
Waning enthusiasm over Italy’s better-than-expected debt auction Wednesday sent a broadly weaker EUR to its lowest level in more than a decade against the JPY, and a new 11-month low against the USD.
Euro sets new 11Month Low
The EURO plunged to its weakest level in nearly a year against the dollar Wednesday, as thin market conditions converged with concerns that Italy’s impending debt auction could fall short of expectations. The euro tumbled as low as $1.2939, down nearly 1% on the session before rebounding slightly in illiquid trading. That was its weakest […]