Forex News

Commodity currencies well placed to benefit post-FOMC The FOMC statement overnight was rather dovish and should see the USD sell off versus the commodity currencies. The announcement has seen nominal yields declining even as inflation expectations move higher.

EUR holds onto yesterday’s gains despite setback on a PSI+ deal Yesterday’s meeting of finance ministers failed to bring a resolution to the PSI discussions as Eurozone officials late on Monday formally rejected the Greek PSI offer on the basis of the coupon being offered.

No weekend deal on the Greek PSI+ hits EUR but AUD & NZD rally continues unabated A deal has yet to be finalised over the terms of the Greek PSI+ following weekend discussions with private bond holders. Private owners of Greek debt have made their “maximum” offer for the losses they are willing to accept […]

EUR short covering rally gathers momentum, but SEK and NOK the G10 stars Thursday ostensibly counts as another positive day for risk, but was hardly convincing in this role, with US equities posting only minor gains into the close. NZD and AUD failed to retrace all of their falls post CPI and employment data respectively, […]

Markets focusing on the positive and seemingly ignoring Greek event risks…for now Risk in FX markets has continued to edge higher as the markets seems to focus on the positives out of Europe, with a successful Portuguese bills auction and news that the IMF will attempt to increase its lending capacity carrying the day. But […]

Chinese data cheers risk markets Better-than-expected data from Asia has been the catalyst for a risk rally this morning, with markets shaking off the threat from Greece. Singapore exports are a notoriously volatile release but nonetheless the 16% rebound in non-oil exports in December was a welcome turn in the recent data trend.