Forex News
What matters today (Asia edition)
Developed macro 1. Market found some relief on the lack of specific negative news 2. Today, the Troika is returning to Greece. Meanwhile, EU Commissioner Rehn is addressing the European Parliament committee on Eurobonds. 3. Sharp deceleration is expected in Norwegian CPI inflation
European Market Analysis
EUR/USD – leveraged sellers cited for adding the extra weight to take rate through its overnight low at $1.2760, with stops adding to the selling to take rate down to $1.2748 ($1.2749 61.8% $1.2720/96). Rate currently trades around $1.2752
Market Analysis
EUR/USD – creeping higher amid light flows, trades to $1.2757 area but appears to be already losing momentum, still well shy of the early highs at $1.2785 seen in European dealings.
Daily Forex Outlook
EUR USD (1.2770) The better-than-expected US payrolls data failed to provide any sustainable optimism for the markets, not least because of the temporary nature of much of the new jobs. It nevertheless managed to dampen expectations that Fed would engage in QE3 any time soon. So the ECB’s balance sheet is still likely to grow […]
European Market Analysis
EUR/USD – settles for the time being between $1.2760/70, after recovery earlier touched a high at $1.2775. Several traders have mentioned interest to go short on approach to $1.2780, with one major investment bank adding that they see the area between $1.2770/1.2800 as the area they will add to shorts. Further resistance seen in the […]
Morning Adviser Europe
Franco-German Summit Ahead by Gareth Berry The dollar added to Friday’s post-payrolls gains as the Asia session got underway overnight, although note that liquidity was thinner than usual with Japan on holiday. EURUSD fell to a new 15-month low of 1.2666 before steadying, and a half-hearted recovery is underway at the time of writing.
EUR/USD ANALYSIS
Very quiet ahead of the London close and flows dwindled quickly and within an hour or so of the payrolls report, traders say, several noting that the key monthly data failed to draw much additional participation from the trading shops that had been sidelined earlier in the week.
US Employment report flash: Nonfarm Payrolls rise 200K
The US Employment report turned out to be even better than we speculated this morning though some revisions to November balance it out somewhat. Nonfarm Payrolls rose 200K while the Unemployment Rate dropped by 0.2 percentage points to 8.5% due mostly to employment (+176K as detailed below) as the Particpation Rate held steady at 64%.
Big G10 FX charts show Euro and Aussie at new opposite extremes
USD The USD/G10 basket has yet to extend beyond its recent tops as the pro-risk currencies have held their own against the greenback even as the Euro has suffered of late. The relative strength of the greenback in an environment of still elevated risk appetite is significant relative to previous behaviour.
Non Farm Friday Funny’s
The end of the first week of the new year brings with it the NFP Friday afternoon circus. Having seen a much stronger ADP print yesterday (many believe it to be a good indicator of NFP) most in the market are now looking for a very good print this afternoon. I personally don’t fall into […]
Technical Alert
Good morning, The euro is still underperforming its major peers and the EuroStoxx50 index also looks set to lose against others… Next key ref for those at 1.2588 & 2,162… EURGBP seems set to extend the drop into the lower-0.82s (not excluding even bigger losses)… EURSEK & EURNOK encountered some responsive buying and above 8.8700 […]
EUR/USD ANALYSIS
Closed in NY at $1.3050 with early demand into Asia able to mark session highs at $1.3058 before rate reversed tack and squeezed lower. Japanese sales of EUR/JPY, despite reports that the fix would see USD/JPY demand, led the move lower but rate met initial support in the area between $1.3047/45 (supported for around 2-hrs).