Forex Market
What matters today (Asia edition)
Developed macro 1. ECB meeting on Thursday is the obvious focal point of another eventful week in the Eurozone. Greece still in the spotlight, but no decision expected at today’s Eurogroup meeting. 2. Datawise, the final releases of Eurozone PMI indices today should remain consistent with economic weakness in the periphery. 3. The US ISM […]
FX DAILY STRATEGIST: Europe – 30 September 2011
Markets remain volatile but directionless; NZD hit by downgrades: Risk appetite continues to ebb and flow with headlines of progress and setbacks on Europe. US equities recovered from an early slide to close on a positive note, but futures have turned lower again since; the moves are mirrored by FX markets, which continue to see […]
UniCredit EEMEA Daily
News CEE: Neutral – Economic sentiment indicator provides a mixed signal but slowdown is becoming more evident HU: Negative – 12M t-bill auction is seriously undersubscribed, bid/cover ratio at 0.75 is the worst ratio ever (p2) PD: Negative – 2Q current account deficit EUR1bn wider than consensus due to revision in trade and service deficits […]
Risk aversion has ruled in Q3
Today will mostly be about wrapping up Q3. Random-seeming month-end moves are guaranteed! If I just look at Q3 market moves, the picture is that we’re not having a ‘euro crisis ‘ (it’s actually one of the stronger global currencies in Q3). Rather, the pervading theme has been broad risk aversion and fear of economic […]
Japan increases its currency ‘war chest’
Japanese Finance Minister Jun Azumi said today that the government will lift the limit of the Financing Bill (FB) issuance for JPY selling intervention to JPY165trn yen (USD2.2trn) from the current JPY150trn in the third supplementary budget, which is likely to be formed in October.
CNY – Fix lower; CNH higher; NDF’s higher; Vols exploding
So another much lower fix at 6.3549 .. but spot USD/CNY onshore immediately trades higher to top end of the band, at 6.3867 – and sits there all mng The lower fixes, higher spot been going on all week but today most extreme case: some of it still related to arb players: those who can […]
Overnight Asia Wrap, Orderbook & Flow, $Asia and Levels
1) Overnight Asia Wrap We opened with risk bouncing and the USD well off its NY highs. Asia’s initial move was to extend this USD dip which was further exacerbated by decent AUD demand at the Tokyo fix. The notable exception to this USD move was the NZD which was lagging after being downgraded by […]
What matters today (Asia edition)
Developed macro 1. EFSF approvals fail to provide a lasting boost to sentiment as peripheral worries and growth concerns remain elevated After Germany yesterday, Austria is expected to approve the EFSF 2.0 today 2. Eurozone HICP inflation is likely to surprise to the upside by rising to 2.7% YoY
Russia: RUB Set to Rebound
RUB has sold off strongly recently, for a total decline of 15% against the basket and 17% against the dollar since the end of July, breaking through the psychological barriers of 32 to the dollar and 37 to the basket and pushing against the upward edge of the corridor.
UniCredit EEMEA Daily
News HU: Neutral – August Unemployment comes in unchanged at 10.8% (p2) RU: Negative – FX reserves fell USD6bn last week, we reckon roughly half was due to interventions (p1) SI: Negative – Fitch downgrades credit rating to AA- with negative outlook (p2)
RMB options today
Lots of market activity today despite the HK typhoon NDFs in CNY are higher, CNH spot is +150 pts from yesterdays close in Asia CNY 1mth paid up to 3.4 from 2.9 yesterday 3mth 25d RR trading at 1.5 for cny puts
Daily Financial Markets Monitor: September 28, 2011
Global stocks dropped 1.3%. Developed markets tended to fare worse than developing markets. US shares fell 2.3%, erasing yesterday’s gains. Euro area stocks slipped 1.2%. Japanese shares ticked up 0.1%. Emerging market equities dropped 0.5% on the whole.