Tag Archives: EUR
Asia today: Risk currencies a tad higher in a slow Asian session
Another quiet, tight-ranged Asian session as the EU summit looms ever closer. The start of the session saw the only data point of the day – New Zealand’s trade data for May.
Low expectations ahead of growth focused EU summit
This week the leaders of all EU countries will meet for a summit and of course as usual the debt crisis will be up for discussion. According to the draft agenda the Council will focus its discussions on initiatives to boost growth and jobs including structural reforms while aiming to agree an “EU growth agenda” […]
EUR Analysis
Opened early Europe at $1.2516, closed in NY at $1.2504, bouncing from $1.2470 after the London fixings. The expected downgrade of 28 Spanish banks by rating agency Moody’s shortly after the NY close had little reaction as traders adjusted positions and stop buys developed ahead of Asia.
FX Market Summary
The euro slid to start the new trading week Monday as investors grow increasingly pessimistic that any major announcements will come out of the upcoming European Union summit.
EUR Analysis
Opened early Europe at $1.2537, EUR/USD closed in NY Friday at $1.2565 after pulling back from a session high of $1.2583, then recovered into the close from $1.2522.
CFTC: Dollar long cut by 44 percent; AUD back to neutral
Hedge funds and other money managers cut their net dollar long exposure through IMM currency futures by 44 percent following the Greek election and ahead of the US Federal Open market Committee meeting.
EUR Analysis
Opened at $1.2550 after $1.2518/64 overnight range. Muted flows and limited appetites were the order of overnight markets with euro finding support from Asian sovereign demand off the low, returning pair to $1.2550.
EUR Analysis
Opened early Europe at $1.2554, EUR/USD closed in NY at $1.25439, off pressured lows of $1.2532. Risk suffered through the NY session as market was made aware of the action by Moody’s to downgrade 15 major financial institutions, position adjustment ahead of initial Spain bank audit results (full results due in Sep) and Goldman Sachs […]
A week to save the Eurozone?
“Its like déjà-vu, all over again” – Yogi Berra After the relief of a ‘pro-bailout’ Greek government and a G20 communique that urged and promised action to stem the Eurozone crisis, a sense of reality has returned to the market sentiment.
EUR Analysis
Opened at $1.2694 after $1.2643/1.2708 overnight range. Euro had struggled atp $1.2700 during European hours with chatter suggesting Dutch and semi-official sales capping, and a slight nudge higher in early US dealings stalled again at $1.2700.
EUR Analysis
Opened early Europe at $1.2670, EUR/USD closed in NY at $1.2704 having experienced a volatile reaction to the FOMC extending Operation Twist into year end, initially dropping to session lows of $1.2638 before bouncing sharply back to highs of $1.2744 as details of the release were analysed.
EUR Analysis
Opened early Europe at $1.2673, EUR/USD closed in NY at $1.2685, off late rally highs of $1.2730 seen as market reacted to a press report suggesting that Germany had agreed to Eurozone bailout funds buying debt.