Tag Archives: EUR
EUR Analysis
Opened early Europe at $1.2572, EUR/USD closed in NY at $1.2585 after getting pressed to session lows of $1.2545 as market moved into deeper risk off mode on Greek concerns. Rate had managed to recover on late rumours that Germany’s Merkel was backing a bank deposit insurance scheme, rising to $1.2601, but this talk was […]
Currency Weekly: Yen: the only true safe haven
The latest bout of ‘risk-off has seen the yen rally as the safe haven currency of choice and the mood is likely to continue at least until the 2nd Greek election. Will the yen continue to prove to be the safest haven over this period?
Asia Today: Soft China flash PMI data, but risk currencies steady
Currency markets quickly adopted a negative view on the outcome of yesterday’s EU summit and sent the EUR down to 2-year lows versus the US dollar. It appears the “new” plan is to continue the already-agreed 2020 growth plan and focus on investment, trade and implementing single market acts.
Asia today: No change from the BOJ sees JPY moderately higher
The Bank of Japan decided to keep interest rates unchanged and left the asset purchase fund unchanged at ¥40 tln and its credit lending programme at ¥30 tln. The Bank commented that caution was needed due to the uncertainty in global financial/capital markets and the European debt problem but the US economy’s moderate recovery and […]
EUR Analysis
Opened early Europe at $1.2785, EUR/USD closed in NY at $1.2818 after rate had extended its recovery off session lows of $1.2725, with another boost at the IMM close taking the rate to late session highs of $1.2825.
Asian Trading Today: EUR clings onto higher levels; JPY selling
Asia found the EUR back higher at the open his morning after a few heart-stopping moments for newly-found bullish sentiment yesterday. Ranges were tight again in a session devoid of data inputs with flows dictating near-term direction.
EUR Analysis
Opened early Europe at $1.2790, EUR/USD closed in NY Friday at $1.2782, off late extended recovery highs of $1.2795. The corrective pullback continued into early Asia, the rate pressed to a session low of $1.2749 before meeting US name demand.
FX CFTC: USD long reaching a new high on bearish EURUSD sentiment
The negative sentiment towards the EURUSD among hedge funds and other large investors reached an all time high last week. The recent data from the CFTC covering the week ending May 15 saw them selling a net 29.9k contracts of EUR futures representing a value of USD 4.8 billion.
Speculative Positions
Largest net short speculative EUR position ever! SEB Risk appetite index (RAI) Risk appetite continued to fall and is now slightly lower than at the start of 2012. Summary of the speculative accounts in the Commitment of Traders report for the period 2 – 8 May: Most extreme positioning: Net short EURLargest change: Increase in […]
G8 delivers words (and not much else) but EUR remains resilient
The anticipation ahead of the weekend G8 meeting failed to morph into something considerable by the start of trading this week, yet the EUR seems surprisingly resilient in Asia. Markets were anticipating some urgency into this weekend’s G8 meeting but the final statement left many issues hanging.
EUR Analysis
Opened early Europe at $1.2665, EUR/USD closed in NY at $1.2697, after recovering off session lows of $1.2688. Rate came under early sell pressure into Asia, French name hit a thin market that took rate to initial lows of $1.26661.
EUR struggling for support following Spanish bank downgrades
The EUR traded with a softer feel to it for most of the Asian session after Moody’s announced 1-3 notch ratings cuts for 16 Spanish banks as it noted the Spanish government’s ability to support some banks had weakened. Asian markets traded lower to match the New York session’s low at 1.2665 and consolidated thereafter.