Forex News
EUR/USD ANALYSIS
Closed in NY at $1.3050 and drifted higher through the Asian session, extending the recovery off NY lows of $1.30165 to retest NY highs at $1.3080 (61.8% $1.3120/1.3016) before early Europe extended the move on to $1.3095 (76.4%). Flows through Asia were described as very light, markets gearing down ahead of the elongated weekend Christmas […]
Market Preview – 23 December 2011
Forex Overnight: EUR trading higher The EUR and the GBP have strengthened against the USD, this morning, as risk appetite amongst traders improved, following largely positive economic data released in the U.S. yesterday. Additionally, market expectations that the U.S. consumer spending and new home sales figures scheduled later today will show an improvement have further […]
GBP/USD ANALYSIS
Closed in NY at $1.5680, having settled back around this level after recovering back from session lows of $1.5649. Rate marked lows in early Asia at $1.5671 before edging higher, the rate pushing up to $1.5700 before meeting resistance.
Risk Currencies Get Boost From US Jobs Data
The risk-sensitive Australian dollar and emerging market currencies gained modestly against the U.S. unit Friday, after a brighter U.S. economic picture cheered markets in holiday-thinned trade.
FX Update
The last day of trading before the Christmas holidays and a Japanese holiday kept activity very subdued in today’s Asian session with early closes for some markets and an almost barren data calendar. Data releases were confined to Singapore’s CPI and industrial production which are scheduled for release just as we go to press.
AUD/USD ANALYSIS
Opened in Asia at $1.0128 and headed higher from the off on corporate demand, triggering some stops through $1.0150 to highs of $1.0181 despite some counter selling from asset managers and importers.
JPY ANALYSIS
Flat session in Asia for the JPY with Japan on holiday and interest virtually non existent ahead of the Christmas holiday. USD/JPY opened at Y78.17 edging up to $78.23 before sell orders from Japanese exporters were triggered, and the pair slumped back to lows of Y78.06, settling around Y78.10.
Europe Preview
EUR/USD opened at $1.3051 in Asia after a moderately quiet session in NY, with a slightly firmer tone on the back of a passing of the payroll tax bill by the House republican leaders, and a WSJ article that the Fed may consider keeping rates near zero for longer than originally pledged.
US Data: Jobless Claims Fell Last Week; GDP In 3Q Revised Lower
New claims for unemployment benefits unexpectedly fell last week, reaching the lowest level since April 2008 amid signs the economy picked up at the end of the year. Initial jobless claims decreased by 4,000 to a seasonally adjusted 364,000 in the week ended Dec. 17, the Labor Department said Thursday.
Bank Of England’s King – Warning Signs “Sufficiently Red”
Bank of England Governor Mervin King Thursday said that warning signs for the debt and banking crisis remain “sufficiently red,” although funding stress for euro-zone banks should be relieved in the months ahead.
CRUDE OIL ANALYSIS
Oil futures traded little changed early Thursday on mixed U.S. economic data, with third-quarter U.S. economic growth revised downward but jobless claims dropping unexpectedly.
Euro wallowing in the mire. What’s up with USDJPY?
Market looks like it is already on holiday today. The Euro remains weak, but risk appetite remains buoyant despite yesterday’s disappointing reaction to the ECB LTRO. Dare we hope for a chance to snooze until after the New Year celebration?