Forex News
UniCredit EEMEA Daily
News CEE: Mixed – Turkey, Poland Dec PMI declines slightly whilst Hungary, Czech Republic managed to show some gains (p1) HU: Negative – Long end bond yields move above 10% amid ongoing uncertainty about IMF talks and biggest opposition protest since the 2010 elections (p1)
Market Preview – 3 January 2012
Forex Overnight: EUR trading stronger The EUR is trading higher against most key currencies, this morning, as an improvement in manufacturing activity in the major global economies, including China and Germany, boosted risk appetite amongst traders.
Better Asian PMIs lift risk appetite as 2012 kicks off in earnest
Markets opened with a sputter Monday with only mainland Europe open for business. Those equity markets that were open rallied between 2-3% but the EUR still remained soft in thin trading with EURJPY pushing strongly through the 100 mark to hit a new all-time low just below 99.50. Other risk currencies fared better with AUDUSD […]
Future Euro in Greece
The chairman of Greece’s largest lender, National Bank, said Monday the country’s future in the Eurozone will be determined in the next three months, and called on political figures to back government efforts aimed at remaining in the European single currency group.
Eurozone Manufacturing Activity Decline.
Manufacturing activity in the euro zone declined for the fifth straight month in December, although less sharply than earlier in the fourth quarter, according to a survey of purchasing managers released Monday. The survey is consistent with other indicators of recent activity, and together the numbers suggest the eurozone economy contracted during the final three […]
The winds of uncertainty swept through currency markets in 2011
2011 was not a kind year for mostly everyone involved in the currency markets. Traders generally depend on fundamental data to dictate directions in the forex market, but the uncertainty in Europe and the floundering global economic recovery were a recipe for daily bouts of volatility that had not been witnessed since the timeframe of […]
USD jumps in thin liquidity – more to come before year-end?
Thin markets were caught with some USD positive flows with much discussion as to what the actual driver of the USD buying was. Whether it is the start of year-end flows, delayed reaction to the geo-politicking by Iran or International Monetary Fund comments on Hungary’s ability to meet targets for additional support, it does seem […]
Italy Bond auction preview
Italy is due to tap its 2-year zero coupon Sep 2013 CTZ issue Wednesday for between E1.5bln-E2.5bln indicative size. The auction comes amid a heavy slew of issuance from Italy for up to E20bln, which completes its funding programme for this year, but settlement of these issues are 2012.
Japan data disappoints currencies mired in tight holiday ranges
Currency markets remained in a lull in Asia with minimal activity seen between the Christmas and New Year period, despite some centers returning from an extended break. The highlight of the session was the early release of a slew of economic data out of Japan which was generally on the disappointing side.
AUD/USD ANALYSIS
The Australian dollar inched lower in thin trading Wednesday, with a heavily watched upcoming Italian bond auction keeping investors cautious. That bond auction in Italy–the world’s third largest bond market–is set for later in the global day and will be a key gauge of whether distressed government bonds will be purchased by European banks after […]
EURO ANALYSIS
The EUR advanced modestly Tuesday, levitating above an 11-month low as thin holiday trading and a dearth of bad news about Europe’s debt woes made investors momentarily unwilling to probe its downside.
Are US consumers more positive and is manufacturing picking up?
The US economy is healing, but are consumers? The next round of US economic data starts today with S&P/CaseShiller figures on US house prices expected (14:00 GMT) to show further declines MoM in the 20 largest cities.