Tag Archives: EUR
EUR Analysis
Opened early Europe at $1.3251, EUR/USD closed in NY at $1.3240 after recovering off session lows of $1.3209 (Europe low $1.32076). Rate retained a subdued attitude through most of Asia, with more attention seen on yen plays, Japan returning after the Monday holiday, and Aussie ahead of the RBA rate decision.
EUR Analysis
Opened early Europe at $1.3250, EUR/USD closed in NY Friday at $1.3252 after rate had pulled back from post US GDP highs of $1.32706 to $1.3235. Rate came under early sell pressure, on the back of EUR/JPY sales into a holiday thinned Asian session, Japan and China closed, the rate pressed to a low of […]
Speculative Positions
Positive GBP sentiment SEB Risk appetite index (RAI) Risk appetite ended the week slightly better but off the weekly highs.
Calm Asian markets, one eye on the RBA (and holidays!) tomorrow
It was a quiet start in Asia to what will be a busy week, with holidays in Japan and China impacting activity. Currencies were range-bound and barely changed from Friday’s New York closing levels.
FX Markets Summary
U.S. gross domestic product, the broadest measure of the country’s economy, rose at a 2.2% rate in the first quarter, below the 2.6% growth rate economists had forecast. The weaker-than-expected report came as investors, concerned the U.S. economic recovery may be stumbling, have been eager to pinpoint the Federal Reserve’s next potential move.
EUR Analysis
Opened early Europe at $1.3186, EUR/USD closed in NY at $1.3217, the rate correcting away from a late recovery high of $1.3240, with news of S&P’s downgrading of Spain by two notches to BBB+ hitting the markets at 1700EDT which dropped rate to $1.31766 at the Asia open in very thin trading conditions.
EUR Analysis
Opened early Europe at $1.3224, EUR/USD closed in NY at $1.3218 after rate had bounced from session lows of $1.3173 to $1.3234 as market reacted to FOMC statement (viewed hawkish), then Fed Bernanke’s press conference (viewed dovish).
FOMC ready to dance with market expectations
The USD was even having a hard time holding onto gains against sterling today, which weakened on a very negative GDP report for Q1. Has the market appropriately priced in the FOMC risks here?
EUR Analysis
EUR/USD closed in NY at $1.3198, the rate recovering from a pullback low of $1.3180 into Asian trade after rate had seen session highs in NY of $1.3219. Rate initially dipped to mark overnight lows at $1.31917 before picking up fresh demand, the market risk on tone boosted by the strong results from Apple.
EUR Analysis
EUR/USD closed in NY at $1.3156. Trade through Asia was initially contained within a very tight range of $1.3147/58, dipping down to mark session lows at $1.3145, as rate reacted to Aussie’s fall following the weak release of Australian inflation data, before recovering back, touching overnight highs at $1.31602 ahead of the European open.
European FX Daily – AUD hurt by weak Australia CPI
– AUD down 0.6%, Asian stocks down 0.1-1.1% – Weak Australia CPI supports RBA easing – Italian bond auction in focus – Hungary MC to keep rates on hold at 7%
EUR Analysis
Euro had turned defensive at the start of the week as French and Dutch political concerns added to data weakness to fuel a strong risk-off tone to markets, global stocks down hard and US stocks tracking along.