Forex News
FX Ringside
We add a 3 week 104.50 EUR/JPY One-Touch at 18% The outlook for the euro-zone is very dark absent far-reaching political measures to further integrate the Economic and monetary union. The political process however is slow moving and the need for policy support is urgent.
Asia today: AUD soars (again) after very strong employment data
The Australian economy is on a roll with another data set today that almost defies belief. After yesterday’s stunning GDP performance it was the turn of labour data to beat consensus estimates by a large margin. The Australian economy added 38.9k jobs in May, well above the flat reading expected, and it was difficult to […]
Asia today: No worries mate! Australia’s Q1 GDP is sky high
Spectacular! That is the only way to describe the performance of the Australian economy in the first quarter of the year, at least according to the latest data from the Australian Bureau of Statistics.
Asia today: AUD a tad firmer as RBA only cuts by 25bp
The overnight short-squeeze in EUR crosses extended into the early part of the Asian session with a quick run-up through 1.25 and the overnight high versus the US dollar on stops triggers.
Asia today: A confused Asia holds the EUR at higher levels
After Friday’s EURUSD rebound, Asia kicked off the week with an uncertain, directionless session for both risk and the single currency. EURUSD initially pushed higher following a weekend WSJ headline that Germany would eventually be willing to give some ground on the latest crisis plan with the pair pushing up to just above 1.2440.
US employment report: not as bad as you think it is
An hour ago we got the May US Employment report and the headline Nonfarm Payrolls print of just 69,000 vs. 150,000 was bad enough on its own, but the uptick in the Unemployment Rate of 0.1pp to 8.2% added to the negative sentiment.
Asia today: Manufacturing PMIs echo weak sentiment elsewhere
Asian PMI data for May echoed the weakness seen elsewhere and led to another (brief) risk-off push during the Asian morning. China’s official manufacturing PMI data caught some by surprise (only because it was released 30 seconds early!) but the trend direction was no real surprise. Falling to 50.4 from 53.3, the drop was greater […]
FX Ringside
Norway: Surprisingly low FX purchases in June Today Norges Bank announced FX purchases for June. To our surprise the central bank chose to keep FX purchases flat at (selling) NOK 350m/day. Since the revised government budget was presented on May 10th the oil price has fallen some 5%.
Asia today: No cure for yesterday’s EUR hangover
The hangover from another EUR slide overnight could not be cured in the Asian session, with risk currencies content to hover near yesterday’s lows. As per yesterday, any hint of a rebound/retracement found a number of willing sellers.
Asia today: AUD weakens after soft headline retail sales numbers
AUDUSD traded on the south side of 0.98 following a weak headline April Oz retail sales number that suggested the Ozzie consumer is becoming more cautious in light of the uncertain global situation.
Asia Today: Was that it? A 12-hour EURUSD retracement?
After a relatively calm overnight session due to the US holiday, Asia opened today’s session with a slew of Japanese data. Japan’s unemployment rate nudged up to 4.6 percent from 4.5 percent previously (and expected) in April and was the first increase in 3 months but there was some welcome news as the job-to-applicant ratio […]
A firmer tone for the EUR (and risk) at the start of a new week
The EUR has started this week with a mild rush higher as weekend Greek opinion polls suggested that the pro-bailout New Democracy Party in Greece is making positive headway against Syriza and is now a few percentage points ahead.