Forex News
German concessions trigger epic Euro squeeze
Euro shorts had their feet put to the fire on the surprising degree of German concessions at the EU summit. Many questions remain unanswered, but for now, the shorts are simply pressing the panic button.
Asia today: EUR surges on EU summit headlines
The EUR put on a huge spurt higher midway through today’s Asian session as headlines emerged from EU’s Van Rompuy that the Euro-zone had reaffirmed its commitment to use its bailout funds (EFSF and ESM) flexibly and efficiently.
Asia today: Markets surprisingly calm ahead of today’s EU summi
Currency markets were still in limbo mode during the Asian session ahead of today’s EU summit. We had a few more data points to focus on today.
Asia today: Risk currencies a tad higher in a slow Asian session
Another quiet, tight-ranged Asian session as the EU summit looms ever closer. The start of the session saw the only data point of the day – New Zealand’s trade data for May.
Summit waiting game continues – market oddly complacent
The EU summit is up later this week, and French and peripheral EU spreads moved wider on the day – but the market is shrugging its shoulders so far in a show of surprising complacency.
Asia today: Currencies asleep ahead of looming EU summit
A quiet tight-ranged session was the name of the game in Asia with no data points to influence activity, as the market remains focused on the end-of-the week EU summit.
Asian Currencies Technicals
AUD/USD: Sharp rejection from topside failure. Failure at the $1.0226 key resistance level combined with o/b daily tech studies has seen initial focus shift to tests of the $0.9904-22 region and then 2012 lows ($0.9584) below.
BOE Minutes (Jun): Further QE at the July meeting a done deal
The immediate decision: At the June meeting the MPC somewhat surprisingly voted 5-4 for keeping the target for the asset purchase facility (APF) unchanged at GBP 325bn compared to expectations for a 7-2 vote for an unchanged target. More surprisingly governor King was among those members arguing for an expansion of the asset purchase facility […]
Increased downside risks for the world economy
THE WORLD ECONOMY HAS RECENTLY LOST MOMENTUM ON A BROAD FRONT. This is manifested by a downturn in leading indicators, for example those that measure business optimism and commodity prices.
Will Bernanke deliver on this market’s expectations?
This market is ready to twist in shout ahead of tomorrow’s FOMC meeting and anticipation of the extension of the Fed’s easing. Tomorrow may set the tone for some time to come.
Asia today: 3 in a row! Oz trade data better than consensus
For the third day in a row, Australia was in the spotlight during the Asia session. This time it was the turn of trade data for April. The trade balance came in at a deficit of A$203 mln, well below consensus estimates of a A$900 mln deficit and a sharp improvement on the revised A$1.282 […]
Ahead of the BOE rate and asset purchase
BOE: Ahead of the BOE rate and asset purchase facility decision on Thursday analyst expectations are below: * Citi expect no change in rate but extra Stg50bln in QE to Stg375bln.