Tag Archives: EUR/CHF
European Market Summary
The low bid-to-cover ratio at the Italian bond auction disappointed the markets and left the EUR sagging, pushed core government bonds higher but had little impact on equities. Thursday’s very strong Spanish auction results set the bar too high for Italy, and the cover of just 1.22x couldn’t make up for the fact that the […]
ECB and Bank of England meeting previews
Monetary policy meetings will be held in the Bank of England and European Central Bank tomorrow and the latter at least has the potential to deliver important new developments. ECB My guess would be that the desire to cut rates again will not yet be irresistible for the Governing Council, as also indictaed by the […]
European FX Daily – Dollar regains ground
– Focus on Fed speakers for hint on QE – G10 pare gains, Asian FX and equities price actions subdued – Malaysia’s exports weaker than expected – We recommend long GBPSEK in cash and derivatives
FX Daily Strategist: Europe
* USD weaker but EUR continues to underperform Despite a lacklustre equity market display on Monday, USD weakened across the board. Asian markets have sustained the momentum, sending local and commodity currencies higher, helped along the way by another large Chinese trade surplus and little sign of waning appetite for commodities.
Tail wagging the dog in the interbank funding markets?
“One picture is worth a thousand denials” – Ronald Reagan The market still appears to be battling with the concept of ‘risk on’ meaning a higher USD, largely because it held the exact opposite relationship for most of 2011. Market activity remains surprisingly light and ranges surprisingly narrow given the magnitude and diversity of events […]
EUR/CHF ANALYSIS
The rate having traded to a low of Chf1.2106 Monday on reaction to the resignation of SNB Hildebrand, but large expiry interest at this level suggested to be providing some attractive influence over the rate for the time being, despite Jordan, a key supporter of the Chf1.20 floor, being put in as temporary head of […]
EUR holds on to gains; AUD outperforms following better data
A relatively stable session for currencies during the Asian session with the EUR able to cling on to the tentative gains made yesterday. The AUD was one of the better performers with building approvals bouncing back in November from a revised 10.0 percent fall the previous month.
EURUSD rangebound ahead of ECB? Also – SNB’s Hildebrand resigns.
EURUSD has seen a steep descent over the last few trading days – is it ready to take a breather back towards resistance ahead of Thursday’s ECB? Also – EURCHF fairly steady after Hildebrand resignation. SNB’s Hildebrand resigns – EURCHF drops EURCHF was roiled today as the SNB’s Hildebrand resigned over the currency transactions (CHF […]
European Market Analysis
EUR/USD – traders report that an Asian sovereign sold in the region of E200mln between $1.2740/50, which helped to put an early cap on the recovery at $1.2750. Sales said to have been profit taking, Asian sovereign was a noted buyer into early Europe, with overnight USD sale interventions also noted in respective Asian currency […]
Daily Forex Outlook : The euro devaluation
EUR USD (1.2770) One of the principal impediments for a struggling peripheral eurozone country, argued economists last year, was that it did not have its own money: it could not print it, embark on QE, nor devalue it. In the meantime, though, the ECB has the LTRO, which is a variation on the QE theme […]
European Market Summary
Markets have been pretty much on hold Friday ahead of the U.S. nonfarm payrolls report. Data on hand painted a depressing picture, Halifax reported UK house prices fell 0.9% in Dec, the euro-zone unemployment rate stuck at 10.3% in Nov, while for the same month German industrial orders fell 4.8%.
Asian Market Summary
Regional markets are lower as ongoing European sovereign debt woes weigh investor sentiment; the Nikkei is down 1.2%, the S&P/ASX is down 0.8%, the HSI is down 1.4%, the Kospi is down 1.1%, the Taiex is down 0.1%, the Sensex is down 1.1%, the Shanghai Composite is down 0.1%, and the STI is down 0.4%.