Forex News
O/n Wrap, OB & Flow, $Asia and Open Levels
1) Overnight Asia Wrap The main forex pairs were largely tied to fairly muted ranges in Asian trading, with little to break from the recent ranges, as traders await the speech from Bernanke on Friday. USDJPY was tied to a narrow 76.85 to 77.15 range as apparent offers from exporters around the 77.25/30 handle was […]
HSBC – Jackson Hole Preview
Please find below our Jackson hole preview and how the market reacted last year. US: Jackson Hole Preview {http://bit.ly/oFdVYw} The FOMC took a significant policy step at its last meeting (holding fed funds rate at exceptionally low levels through at least mid-2013) with Bernanke unlikely to push for immediate further policy easing at the Jackson […]
Preparing for another push in the Yen?
The list of people who think the euro will survive is growing. It isn’t clear whether Alan Greenspan is actually one of them, of course, but his comments about the euro ‘breaking down’ made grizzly headlines yesterday afternoon and overnight.
What matters today (Asia edition)
Developed macro 1. Equity markets appear to have found some strength in the hope that Fed Chairman Bernanke will offer some fresh stimulus. 2. Expect a clear moderation in the German IFO, but no collapse. 3. The French government is expected to announce fresh fiscal consolidation measures today. 4. US July Durable goods orders are […]
FX DAILY STRATEGIST: US – 23 August 2011
EURUSD holds well given decent Eurozone Services PMI Risk on rally likely today though financials/housing could be an obstacle Positioning complicates JPY intervention prospects
FX DAILY STRATEGIST: Europe – 23 August 2011
Better than expected China PMI boosts sentiment, but against a backdrop of weaker financials Weaker Eurozone PMIs to push EURUSD to lower end of the 1.41-1.45 range JPY and CHF to find support on increased risk aversion
FX DAILY STRATEGIST: Asia – 23 Aug 2011
A weak China PMI to leave commodity currencies vulnerable to further downside Eurozone PMIs to push EURUSD to lower end of the 1.41-1.45 range JPY and CHF to find support on increased risk aversion
Americas FX Daily – FX weathers risk off trade in orderly fashion
What happened overnight – Surprisingly calm risk-off trading with modest FX price action FX markets traded in a surprisingly orderly fashion overnight, somewhat insulated from the extended plunge in equity prices. European stock markets are trading 1.9-4.0% weaker, following the 1.3-6.2% losses reported by Asian equity markets.
FX DAILY STRATEGIST: Europe – 19 August 2011
Philly Fed plunge brings double-dip fears to the fore, raising the stakes for next week’s Jackson Hole meet. Anxious wait now for Eurozone PMI/ZEW data next week. Another Lazarus-like revival in risk appetite looks unlikely into the weekend; USD, CHF and JPY to stay bid.
UniCredit EEMEA Daily
News KZ: Neutral – MinFin sells KZT 11.5bn (EUR 54.5mn) in 15Y GB, yield at 5.5% (p2) PL: Negative – July industrial production falls by 6.0% mom / Neutral – July PPI accelerates to 5.9% yoy (p2) RO: Negative – MinFin sells RON 400mn in 3Y ROMGB, yield at 7.34% (p2)
UniCredit EEMEA Daily
News KZ: Positive – 2Q GDP grows 7.1% yoy (p2) PL: Mixed – July Wages come is at 5.2%, employment – at 3.3% yoy (p2)
UBS – Morning Adviser Europe – All Eyes On The Swiss
After yesterday’s rather uninspiring performance by the heads of government of France and Germany, investor attention will turn to the Swiss government, along with the SNB, to see whether measures will be announced to counter franc appreciation. Although no specific times or measures have been announced, press reports suggest an exchange rate floor will be […]