Tag Archives: CAD
Market says QE3 horse not dead yet, sells USD
The US employment report was distinctly uninspiring despite the drop in the unemployment rate and the market continues to plow full steam ahead with bets on the imminent arrival of QE.
FX G10 and EM Morning Trader Views
G10 EUR – ECB day has arrived, although much was leaked yesterday afternoon sending the eur a quick 100 pips higher. Eur x’s big beneficiaries from the sterilisation and also from the talk on seniority –
ECB unveils plans – squeezing Eur shorts again, even against CHF
The Euro squeezed higher as ECB officials communicated the ECB’s plans to buy peripheral debt. But is this as positive for the Euro as the market is trying to tell us at first blush?
FX Daily Strategist: Europe
– Favouring long EURUSD ahead of Thursday’s ECB meeting and Friday’s US employment report The rebound of the USD and pullback in the EUR is a reflection of investors remaining on the sidelines ahead of Thursday’s ECB meeting and Friday’s US payroll report in our view.
FX G10 and EM Morning Trader Views
G10 EUR – Big week for the euro with lots expected of the ECB on Thursday – A new high at 1.2637 Friday cleared a few more shorts out of the mkt but we struggled to sustain that move, backed up by the rally in Spanish 10 yr yields on Friday back towards 7%.
CFTC: EUR short reduced as dollar selling continued
Speculative traders in IMM currency futures continued to sell dollars ahead of Jackson Hole last Friday. The data covering the week ending August 28 showed an aggregate dollar short position of USD 5 billion with most of the selling occuring against the EUR and to a lesser extent the JPY and CAD.
Americas FX Daily
All eyes on Jackson Hole What happened overnight * Japan’s industrial production sharply weaker than expected in July * German retail sales surprise weak in July
FX Daily Strategist: US
* Waiting for a dovish speech from Fed Chairman Bernanke As markets wait with bated breath for Fed Chairman Bernanke’s much-anticipated Jackson Hole speech, the USD has lost come of its ground against G10 FX but remains within recent ranges.
FX G10 and EM Morning Trader Views
G10 EUR – Still playing the 1.2450/1.2600 range – some good rm and model buying yest took us back above 1.25 while some decent lev selling capped us at 1.2560-80 area – support is still 1.2530 then 1.2450 – topside resistance is 1.2590 (fibo) then 1.2600 (100 day m.a) – currently short against the recent […]
CFTC: Dollar position negative for the first time in 11 months
Money managers continued as net sellers of dollars for the fifth week in a row according to data from the CFTC covering the end of trading on August 21, which was one day ahead of the release of the dovish Federal Open Market Committee minutes from the US Federal Reserve.
Americas FX Daily
EUR crosses hold onto overnight gains What happened overnight * Japan reports a worse than expected trade deficit in July * South Africa CPI data fails to show impact of higher food prices * We recommend short-dated USDJPY RKI risk reversals
European FX Daily
* Risk currencies and equities down, but EUR and JPY stable * FOMC minutes unlikely to bring clarity