Forex News
UniCredit EEMEA Daily
News KZ: Positive – Industrial output up 4.7% in May yoy, 5.8% in Jan-May and down 0.9% mom sa (p2) TK: Negative – April 2011 C/A posts USD 7.7bn deficit (p2) SK: Negative – May CPI comes in at 4.0 % yoy (p2)
Westpac AustralAsian Daily
Market themes & issues China data cheer up the region, AUD. A strong performance by regional equities, supported at least in part by the slew of Chinese data, sparked a recovery in risk-sensitive AUD and NZD and hurt safe haven USD.
FX DAILY STRATEGIST: Europe – 14 June 2011
Chinese data eases fears of sharp slowdown. Europe headed towards deal on Greece says EUR and risk to remain bid – but beware disappointment: play though options. US retail sales to reaffirm slowdown in economy, but will not support USD today.
Daily Currency Briefing: Debt crisis against debt crisis
G10 Currencies EUR: On to the next act of the Greek debt crisis: the rating agency Standard & Poor’s has lowered Greece’s rating by three notches. At CCC the risks are now considered to be “substantial” and the securities are “extremely speculative”.
FX DAILY STRATEGY Asia – 14 June 2011
Chinese inflation may come in higher than expectations, but IP will be important in indicating a slowdown We still like short EURCHF as the divergence of opinions over Greece lingers on US retail sales will likely reaffirm slowdown in economy
Technical Analysis – FX Daily Majors
Today’s highlights: GBP/USD: Solid recovery highlights respect for critical trend/neckline support factors below at 1.6177/1.6102. We still look for these to hold through mid-June USD/CHF: Mini-base dismissed by bearish “outside” pattern. Whilst below .8548 risk is for bear extension through .8326 to .8125
European FX Daily – Chinese growth better than expected in May
– Antipodeans lead modest rally vs USD, Asian equities up 0.4-1.1% – Chinese production and investment robust in May, inflation rose to 5.5%yoy – US retail sales likely to be weak
FX DAILY STRATEGIST: Europe – 13 June 2011
Make-or-break week for EUR; but does agreement come too late to save risk appetite? S&P500 at 1250 the tipping point — where capital preservation trumps return for investors, supporting USD We still like short EURCHF; now long USDSEK too.
UBS FX Morning News – 13th June 2011
Overnight equity markets Nikkei -0.70% 9’448.21 S&P500 -1.40% 1’270.98 Dow -1.42% 11’951.90 Nasdaq -1.53% 2’643.73
China: Policy tightening working
May new lending and money supply growth surprised consensus to the downside, reconfirming that intensive quantitative tightening measures imposed since last October are filtering through. That said, it’s still too early for Beijing to ease up.
Daily Forex Outlook: The Fed speech after Bernanke’s
EUR USD (1.4490) Jean-Claude Trichet delivered yesterday what the majority of market participants had come to expect by saying ‘strong vigilance’ will be needed to curb upward price pressure. The euro sold off on what is generally thought to indicate an imminent rate hike, reportedly due to ‘buy the rumour sell the fact’ dynamics.
UniCredit EEMEA Daily
News CZ: Positive – 1Q GDP revised upward to 0.9% qoq SA and 2.8% yoy / Hawkish – May CPI rises 0.5% mom and 2.0% yoy (p2) PL: Positive – Govt auctions 2Y GB, yield stood at 4.84% (p2)