Forex Market
European FX Daily – Fed signals low rates through mid-2013
– G10 currencies modestly weaker vs USD, Asian equities up 1%-2.8% – Fed signals exceptionally low rates through mid-2013 – BoE inflation report likely to signal more dovish bias
Westpac Australia Asian Daily
Market themes & issues Today saw one of the most incredible swings in market sentiment that we have seen in 3 plus years. Following on from significant losses in US equity markets, the AUD was battered by wave after wave of selling first up. It climaxed with a break back through parity for the first […]
OVN FX WRAP
Day with Japanese targeting AUDJPY stops, and the risk selling continued all day. AUD the massive mover overnight falling from 1.0180 to our current low of .9927. Asian Equities trashed with KOSPI down 9.3% at one point (down 8% currently) and US equity futures down 2.5 to 3%. China CPI at 6.5% (6.4 expected) didn’t […]
FX DAILY STRATEGIST: Asia – 09 Aug 2011
Markets lose confidence in global recovery FOMC up, but no magic bullets China data key for Asia session, AUD in particular SEK still looks exposed in Europe.
FX DAILY STRATEGIST: US – 08 August 2011
After S&P US Downgrade, ECB response narrows Italian-German bond spread significantly. Markets will test ECB’s commitment. FOMC statement, China data, are other main event risks. Latter could grant a reprieve from further AUD sell-off.
US downgrade: Implications for FX
The S&P ratings agency downgraded the US long-term sovereign credit rating from AAA to AA+ with a negative outlook on 5 August. What does it mean for global FX? In our view, there are three issues to consider: what does it imply for risk appetite in the short run, what will the policy response be […]
FX DAILY STRATEGIST: Europe – 08 August 2011
After S&P US Downgrade, ECB response in focus and could help EURUSD up to 1.4500. See Market Focus on p.3 for our take on S&P’s action. FOMC statement, China data, are other main event risks. Latter could grant a reprieve from further AUD sell-off. After S&P downgraded the US over the weekend, financial markets have […]
What matters today (Asia edition)
Developed macro 1. Market is likely to start with ‘risk-off mode’ following the downgrade of S&P 2. The ECB hints that it is ready to buy more bonds in markets 3. The G7 agreed to take actions to stabilize markets and inject liquidity if needed 4. Japan’s current account surplus widened in June.
European FX Daily – ECB signals it will buy Italian and Spanish bonds
– Asian markets fell 2.0%-6% – G7 pledged to support financial stability possibly with coordinated action – ECB signals it will buy Italian and Spanish bonds – FOMC to announce further policy measures on Tuesday
FX wrap from HK
The weekend S&P downgrade of the US saw FX markets open with the USD weaker across the board from Friday’s closing levels. EURUSD opened around 80pts higher, with EURCHF and USDCHF off almost 2 figures and USDJPY off around 130pts. The JPY and CHF pairs opened near their lows and never really looked in danger […]
UniCredit EEMEA Daily – August 8
News CZ: Neutral – CNB keeps monetary policy unchanged, indicates a delay in the first hike by a quarter / Negative – June retail sales including the auto segment dropped 3.5% yoy (p2) KZ: Positive – Major government owned oil company completed the syndication of a USD1bn term loan facility (p2) RO: Negative – MinFin […]
US EMPLOYMENT IMPROVES???
In many ways the July employment was a mirror image of the June report, with modest upside surprises in all of the main components. Nonfarm payrolls rose 117k (consensus +85k), private payrolls rose 154k (consensus +113k), and the unemployment rate fell to 9.1% (consensus 9.2%). However, the lower unemployment rate reflected yet another decline in […]