Forex Market
Behavioral Finance: Daily Forex Outlook: Investors favour any Fed action over inaction
EUR/USD (1.3720) The euro traded lower early in yesterday’s European session as news began to circulate that the IMF had suggested the ECB should lower rates if risks to growth persist. The Fund approved of President Obama’s plan to stimulate job creation, but it also shaved a full percentage point from its Q3 GDP forecast […]
FX Techs: London Open
At a glance: Political markets Market conditions are currently dominated by rumors and political statements, which adds to the already prevailing uncertainty and leads to pretty erratic price movements, impossible to anticipate. Yesterday’s rumor about the SNB raising the floor for EUR/CHF again is another example, which pushed the market into its main resistance zone […]
UniCredit EEMEA Daily – Hungary, Russia, Turkey
News HR: Positive – Central bank raises mandatory reserve requirement from 13% to 14%. (p2) HU: Mixed – NBH MPC keeps rates unchanged / sees about 20% participation rate in FX mortgage repayment scheme / says ready provide FX from reserves (p1) TK: Mixed – CBT MPC leaves rate unchanged / sells USD350mn at FX […]
Asia Wrap, Orderbook & Flow, FOMC, USD/Asia
1) Overnight Asia Wrap A quiet start to the day in Asia with the market hanging on the some aggressive moves by the FOMC tonight and expectation that Greece will receive its next tranche of aid amid progress on Greek talks. EURUSD opened at 1.3701 falling briefly to 1.3679 before moving higher to 1.3724. Cable […]
HSBC Macrobullets
TOP House Speaker John Boehner (R., Ohio), Senate Minority Leader Mitch McConnell (R., Ky.) and other GOP leaders, in a letter Monday to Fed Chairman Ben Bernanke, urged Fed officials to “resist further extraordinary intervention in the U.S. economy.” Greece reports “satisfactory progress” in talks with troika; Talks to continue over weekend in Washington, D.C.; […]
EUR/USD forecast change: The peripheral crisis is likely to deepen
EUR/USD forecast change: The peripheral crisis is likely to deepen The problems in the euro area have deteriorated significantly and are likely to worsen further before stabilising. Heightened risk, coupled with more dovish language coming from the ECB and the SNB floor, has made a lower EUR/USD likely in the short run. We are therefore […]
FX DAILY STRATEGIST: Asia – 21 September 2011
USD softer, EUR stable, CHF hit by SNB re-peg speculation. More positive signals out of the latest troika/Greece phone conference, an absence of any bad-news scare stories and some sense of optimism that the FOMC would deliver enough following the conclusion of the FOMC meeting today to add a layer of support under risk markets, […]
Germany: ZEW economic expectation index continue to trend down in September
The ZEW economic expectation index continues to trend downward in September as sentiment remains downbeat owing to a combination of factors, including scepticism concerning global GDP growth outlook and the ongoing sovereign debt crisis in the euro area.
FX DAILY STRATEGIST: US – 20 Sept 2011
USD retraces lower and equities recover in Europe, but sentiment still fluid: The dollar softened in the European session with the move being linked to selling by Asian accounts. Equities have rallied however sentiment remains fluid. Further negative headlines surrounding the European banking sector could see liquidity tensions exacerbate.
FX DAILY STRATEGIST: Europe – 20 September 2011
S&P pull the rug from positive signals from Greece/troika phone conference: Headlines out of Greece following Monday’s phone conference with troika officials, suggesting that the two sides were close to an agreement that would unlock the next tranche of assistance from the EU/IMF, brought EURUSD back up through 1.3700 from an intra-day low of 1.3586.
Behavioral Finance: Daily Forex Outlook: Traders see no reason to buy the euro
EUR/USD (1.3605) Although there was widespread market concern about the outcome of the current deliberations between the Greek government and the IMF/EU/ECB, there wasn’t much in the way of news. Consequently the euro settled unchanged on the day.
UniCredit EEMEA Daily
News HR: Negative – HNB purchased EUR 180.5mn at 7.50 removing HRK1.35bn in liquidity from the market yesterday (p2) PL: Mixed – August Industrial production accelerates to 8.1% yoy vs. 2.7%yoy consensus while inflationary pressures in the industrial sector increased, August PPI inflation rose to 6.6% (p2) RO: Neutral – MinFin sold RON 0.66bn 9M […]