Forex News
Overnight Wrap, Orderbook & Flow, $Asia, Levels
1) Overnight Asia Wrap Euro opened in Asia at 1.3930 after highs of 1.3957 in NY, remaining buoyed by optimism of a comprehensive EU package and risk rallies in the equity and oil markets following yesterday’s strong Chinese PMI and US earnings data.
What matters today (Asia edition)
Developed macro 1. The macroeconomic calendar is relatively poor of indicators today. The ECB is conducting a LTRO with 12-month maturity. 2. US: October Consumer Confidence is likely to post a decrease in line with the drop in the October University of Michigan consumer sentiment index.
Weekly Calendar – The market mood
Risk aversion is no longer declining and markets are on hold waiting for the conclusions from discussions to shore up the Eurozone. In any case, they will have to be patient a little longer than first expected.
FX DAILY STRATEGIST: Asia – 21 October 2011
EURUSD ends flat after another day in the EZ-headline tumble dryer There seems to be no end to the euro zone headline-driven buffeting being inflicted on the spot FX market, but somewhat fitting that EURUSD ended the NY trading day little changed from where it opened in Asia – as too US stocks.
UBS Spot Desk EURUSD Surges. Don’t Ask.
EURUSD opened in Europe Thursday around 1.3690, precisely where it was at the European close Tuesday. This is not surprising, as Wednesday’s trip up to 1.3870 was unsupported by the positioning and exposures we have been monitoring.
UK retail sales – strong monthly data mask weak underlying conditions
Retail sales were much stronger than expected in September, with sales volumes increasing by 0.6% m/m in September (BarCap: 0.1%, consensus: 0.0%) after falling by a downwardly revised 0.4% the previous month.
UniCredit EEMEA Daily
News CZ: Neutral – MinFin sells CZK 7.5bn CZGB VAR/23 (CZK 8bn on offer): bid/cover 1.54, yield 12M PRIBOR + 49.5bp (p2) LV: Positive – President names Valdis Dombrovskis as new PM (p2) PL: Mixed – September IP growth slows to 7.7% yoy, PPI accelerates to 8.1% yoy / new 5y POLGB bmrk sees very […]
FT: Eurozone leaders meet in Frankfurt
France’s president Nicolas Sarkozy flew to Frankfurt on Wednesday night for an emergency meeting with leading players in the eurozone crisis including German chancellor Angela Merkel, as Franco-German differences bedevilled attempts to agree a comprehensive package of measures.
UniCredit EEMEA Daily
News HU: Positive – August gross wages rise 6.5% yoy (p2) LT: Positive – Govt presents 2012 draft budget to parliament and announces details of three-year financial plan (p2) LV: Mixed – Previous parliamentary speaker re-elected, President initiates further coalition talks (p2) PL: Negative – Labor market data confirm economic slowdown (p3) TK: Mixed – […]
FX DAILY STRATEGIST: US – 19 Oct 2011
Eurozone headlines to remain in the driver’s seat Markets have continued to trade the USD in the context of a risk on/off mindset and today risk- on has prevailed with the USD softer across the board. The catalyst in Asia was the expansion of a Japan-South Korea currency swap arrangement by a year and to […]
Bank of England Minutes – go in short GBPUSD and stay short
The strong link between EURUSD and GBPUSD saw GBPUSD dragged higher overnight on reports in the Guardian which claimed that France and Germany had agreed to increase the size of the EFSF to EUR 2trn from EUR 440bn.
FX DAILY STRATEGIST: Asia – 19 October 2011
Market rallies on story of an expansion of EFSF which was later denied After a breadth of negative euro news resulting in risk-off trade for much of Tuesday, the market sharply turned around on a UK Guardian report that France and Germany agreed to boost the EFSF to EUR2trn. The EFSF would become an insurer […]