Tag Archives: EUR
EUR Analysis
EUR/USD closed in NY at $1.3084, after rate had extended its recovery off earlier Asian lows of $1.3004 to $1.3120. Rate came under pressure into early Asia as EUR/JPY was sold off, meeting demand at $1.3068 (recovery Thursday stalled here before the NY break higher) where it based before recovering.
EUR Analysis
Closed in NY at $1.3032, off session lows of $1.3011. Strong demand for dollar-yen into the Asian session weighed back on EUR/USD, as EUR/JPY met resistance on approach to Y109.50, with rate pressed down to lows of $1.30041.
No further stimulus from BOJ; USDJPY edges lower
Asia’s focus was on the Bank of Japan today, awaiting its announcement after a two-day meeting. After an unusual delay, the BOJ announced no change in interest rates, holding then steady at 0.1 percent (what else can they do?) while there were no new easing steps announced.
Risk buoyed again by softer China CPI, hope for a strong PSI deal
China reported February’s inflation data this morning and CPI showed a sharp drop to 3.2% y/y from 4.5% the previous month, beating positive consensus estimates of 3.4%. Food prices fell 0.3% m/m after the Lunar New Year celebrations were completed.
EUR Analysis
Euro-dollar closed in NY at $1.3147 after rate had recovered off lows of $1.3096 to retest earlier highs at $1.3164. Rate initially dipped to $1.31353 as it took direction from the negative react in the Aussie to release of poor jobs data.
Currency Weekly : QE pendulum to swing in JPY’s favour
The recent BoJ inflation goal announcement and QE expansion caught the market by surprise. Since the announcement, USD-JPY has reached nine-month highs. We think the price action looks overdone.
Speculative Positions
Speculators scaled back on short EUR contracts and the JPY net speculative position turned short The IMM data for the period 22-28 Feb revealed: * The net short speculative EUR position decreased significantly as speculators once again scaled back on their short contracts.
EUR Analysis
EUR/USD closed in NY at $1.3310, off pullback lows of $1.3282 (seen after the ISDA decision on no credit event for Greek swaps). Rate edged higher in early Asian trade, the move influenced by EUR/JPY demand into the Tokyo fix, with rate touching a high of $1.3333 before momentum faltered in the cross and allowed […]
EUR Analysis
EUR/USD closed in NY at $1.3457 after rate had recovered off pullback lows of $1.3389 (lows seen on reaction to Ireland’s call for a referendum on the EU fiscal treaty), pushing to an intraday high of $1.34715 ahead of the close as risk outlook was boosted on the Dow close above 13000 (first time since […]
EUR Analysis
EUR/USD closed in NY at $1.3447, recovering back from pullback lows of $1.3444 after posting highs of $1.34869. Rate extended recovery to $1.3480 in early Asia, as rate was lifted by strong demand for EUR/JPY out of Tokyo.
EUR Analysis
EUR/USD closed in NY at $1.3370, having rallied strongly from a pullback low of $1.3270 to post extended recovery highs of $1.33747. Asia consolidated this move with trade during the main part of the session contained within a range of $1.3365/80 before dropping late on to $1.3357 into early Europe.
EUR Analysis
EUR/USD closed in NY at $1.3247 after trade was contained within a range of $1.3212/67. Rate picked up an early bid tone into early Asian dealing, the rate edging to an early high of $1.3255 before dropping back to $1.32312 as rate tracked Aussie’s dip that took out option barrier interest in this pair at […]