Forex News
FX Daily Strategist: Europe
Greece/Eurogroup uncertainty now reigns Risk is back under pressure. The positive start to the year in global equities and in the likes of AUD, NZD and SEK in FX markets suggested a level of complacency about the Greek crisis: the sense has been that markets have assumed that through all the bluster and posturing, when […]
Australian jobs data looks strong – but details not so impressive
The Australian employment report for January was the highlight of today’s Asian session and produced a strong response to an above-forecast headline. The Australian economy added a total of 46.3k jobs in January, well above expectations of a mere 10k increase and the AUD responded accordingly with the 40 point jump versus the greenback.
FX Daily Strategist: Europe
Eurogroup tomorrow is immediate focus – but Moody’s reminds of longer-term problems Relief over Greece’s ratification of the austerity measures kept markets on firm footing Monday, and attention now turns to tomorrow’s Eurogroup meeting. We expect the formal approval of the second EU/IMF loan package, alongside details of the PSI component of the bail-out – […]
FX Daily Strategist: Europe
Greek Parliament approves austerity bill Greece’s parliament early Monday ratified austerity measures of EUR 3.3 billion in wage, pension and job cuts this year, which should now give way to the release of the second EU/IMF loan package at Wednesday’s Ecofin meeting.
FX Daily Strategist: US
FX trading risk-off today on yesterday’s Greek disappointment FX markets are trading a classic risk-off theme this morning given yesterday’s slip back in progress on Greece. The USD is bid across the board (barring GBP), and the EUR is stronger vs. high-beta/yield (AUD, NZD, and SEK) but softer against the relative lower yielders (USD, GBP […]
EUR/USD Analysis
Closed in NY at $1.3285, after rate had pushed up to highs of $1.3322 to take out option barrier interest at $1.3315. Move up had been aided by increased hopes that progress had been made on the Greek debt deal, though this was partially thwarted by German FinMin comments not to expect a decision out […]
FX Daily Strategist: Europe
Big day for the Euro – Eurogroup meeting and ECB to dominate The pace of the Greek saga is finally heating up as deadlines and schedules compress. Greek political leaders met late into the night saying there was no option but to come to agreement ahead of FinMin Venizelos’ early morning departure to attend an […]
FX Daily Strategist: US
Greece newsflow positive despite delays; ECB to determine EURs next move EURUSD has so far failed to make further substantial gains after breaking above technical resistance at 1.3244. While yesterday’s rally in EUR was fuelled by headlines that the Greek government was drafting an agreement on the bailout deal for political leaders to approve on […]
FX Daily Strategist: Europe
RBA stands pat and signals further inaction – AUDUSD boosted… Ahead of this morning’s RBA decision consensus was very much for a cut – and indeed money markets were pricing in multiple cuts over the coming two or three quarters, even if there was some debate over the timing.
RBA Statement On Monetary Policy
At its meeting today, the Board decided to leave the cash rate unchanged at 4.25%. Information becoming available since the December meeting confirms that economic conditions in Europe were weakening late last year, with risks still skewed to the downside. Reflecting this, most forecasters have lowered their forecasts for world GDP growth this year to […]
FX Daily Strategist: Europe
Stellar payrolls report feed the risk-currency fire, but USD ends the day flat A sharp knee-jerk negative dollar reaction to what was a stellar US employment report was subsequently tempered by the sharp back-up in US Treasury yields and questioning not only of the likelihood of additional QE measures by the Fed but also the […]
UniCredit EEMEA Daily
News BG: Neutral – Jan international reserves decreased 2.8% mom (+6.2% yoy) (p2) CZ: Neutral – CNB leaves repo rate unchanged at a record low 0.75% (p2) HU: Neutral – State owned airline Malev files for bankruptcy and stops operation, fiscal impact should be small