Forex Market
Tuesday: Overnight Wrap, Jpn comments, Orderbook & USD/Asia
1) Overnight Wrap A generally quiet Asian session despite a nervous and twitchy market following the comments out of Japan overnight that bring intervention risks closer. Early in our session the US debt limit bill was passed comfortably by the House of Representatives with 269 v 161 votes, and will now go on to the […]
What matters today (Asia edition)
Developed macro 1. The US House of Representatives passes the debt ceiling increasing plan and more attention will revert to the rate decision and data front. 2. US June Income and Outlays to show small gains. 3. US Vehicle sales expected to increase in July.
Overnight Wrap, Flow & USD/Asia Run
All about the US and the deal that has apparently been reached. USDJPY opened higher and jumped from 77.00 to 77.65 in very early trading. We slipped back to 77.30 before it was announced that Obama was having a press release.
KRW, SEK, NOK are the ‘winners’ from the US debt deal
The ability of the current batch of leaders in the US and Europe to wait until the last minute before delivering crisis-averting policies is amazing. The European experience is that this trait results in increased market skepticism but on the face of it, the US debt deal isn’t bad.
Behavioral Finance: Daily Forex Outlook: US debt: the damage is already done
EUR/USD (1.4510) House Speaker John Boehner’s budget proposal was declared ‘dead on arrival’ by Senate Majority Leader Harry Reid yesterday, with most Democrats and even a few Republicans prepared to vote against it.
European FX Daily – Inflation pushes AUDUSD to a new high
– AUD rally leads the USD weaker; Asian equities mixed – Australia inflation surprised high, points to rate hikes, not cuts – A moderation in the Swiss KoF is likely to have limited CHF impact – USD durable goods likely to contract and keep USD yields depressed – We have lowered our three-month USDCAD forecast […]
What matters today (Asia edition)
Developed macro 1. ‘Risk-off’ mode dominated in overnight trading session 2. EC business confidence surveys widely expected to deteriorate in July 3. German labour market will likely reveal further improvement
FX DAILY STRATEGIST: Asia -27 July 2011
FX finally takes fright at US ratings risk Solid AAA G10 credits may have further to run Upside AU CPI surprise could see new AUDUSD highs
McCrann — AUSSIES SAVE WHILE AMERICANS KEEP SPENDING
RESERVE Bank governor Glenn Stevens delivered some hugely important messages yesterday. Ahead of this morning’s inflation figures, on which next week’s RBA interest rate decision pivots.
HSBC: US debt limit stalemate could extend several weeks
Signs of progress over the last few weeks on budget negotiations in Washington have turned out to be a mirage. Negotiators appear no closer to a long-term budget agreement now than they were back in April when competing budget plans were presented by the House Budget Committee and the White House. New stop-gap plans are […]
European FX Daily – Focus on UK GDP and Richmond Fed survey
– European currencies lead rally vs USD, Asian equities up 0.1-1.0% – Likely weak UK Q2 GDP to weigh on the GBP – Will Richmond Fed follow yesterday’s positive surprise from Dallas? – RBA Governor Stevens positive on the consumption outlook – How likely is Japanese intervention?
FX DAILY STRATEGIST: Europe – 25 July 2011
Grid lock in US debt ceiling talks supports Gold and CHF. We like long EURCAD after Canada CPI surprise, and long NZD vs. USD, CAD and AUD into RBNZ. GBP at fresh risk if Q2 GDP fails to show any growth.