Tag Archives: EUR/JPY
Behavioral Finance: Daily Forex Outlook : ECB rethink in the pipeline?
EUR USD (1.2780) Better-than-expected data from China and Germany and successful eurozone bond auctions spurred risk appetite across asset classes yesterday – equity markets are strong and the euro is firming.
Daily Forex Outlook
S&P-effect diminishes EUR USD (1.2725) S&P delivered yet another indictment yesterday and downgraded EFSF by a notch. Moody’s, on the other hand, maintained France’s triple-A, although with a warning about its fiscal condition and the banking sector.
Behavioral Finance: Daily Forex Outlook : Backdrop is as critical as the downgrade
EUR USD (1.2645) Since last November, when the agency erroneously published a downgrade notice, the market had reckoned that S&P would cut France’s triple-A. The anxiety in the market on Friday was, therefore, more about the extent of the cut (one notch or two) and the other downgrades.
Technical Analysis
The euro correction elaborated around Friday morning became more short lived than outlined. Key day reversals seen in several EUR & USD pairs, suggesting that the underlying trends, weaker euro/stronger dollar is back on track.
Market Analysis
Strong auctions yesterday in Spain and Italy led to a welcome breather in the beleaguered sovereign debt markets yesterday which also prompted some decent short covering in EUR/USD after the very weak start to 2012. EUR/USD opened in Asia at $1.2814 after touching highs of $1.2845 in NY.
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 […]
Daily Forex Outlook
Waiting for the short squeeze EUR USD (1.2735) A predominance of relatively positive news yesterday including Fitch’s announcement that France may not be downgraded this year after all, and that Germany’s triple-A was safe, helped euro sentiment. The tone of the Merkel-Sarkozy summit, which for the first time in a while hinted at the need […]
Eropean Market Analysis
EUR/USD – Extended recovery to $1.27831, with any stops above $1.2780 triggered seen meeting profit take sell interest after the pressured move higher. Middle eastern buys cited for providing the mian demand in the move up from around $1.2750. Rate trades around $1.2774.
Asian Market Summary
In FX markets, the EUR falls against the dollar and yen as investors believe pessimism toward Europe’s debt problems will keep weighing the single unit. The EUR/USD is at 1.2743 from 1.2778 late Tuesday in New York, the EUR/JPY is at 98.01 from 98.20, and the USD/JPY is at 76.91 from 76.84.
Daily Forex Outlook
No new era for the euro EUR USD (1.2790) The upside data surprises in the US payrolls data should, intuitively, have led to a ‘risk on’ sentiment and a dollar fall, according to traders. The euro decline therefore led many to dwell on the onset of a new era for the currency – one where […]
Asian Market Summary
Regional markets are mostly higher as optimism over the U.S. economic recovery overshadows concerns about the European sovereign-debt situation; the Nikkei is +0.4%, the S&P/ASX is +1.1%, the HSI is +1.0%, the Kospi is +1.5%, the Taiex is +1.2%, the Sensex is +1.7%, the Shanghai Composite is +2.5% and the STI is +0.9%.
JPY ANALYSIS
Opened in early Europe at Y76.94 and Y97.87 Gapped down at the open in Asia at Y76.87 from Y76.96 NY close as weekend IMF and other EUR negative reports weighed on EUR/JPY. USD traded down to Y76.79 led by cross sales which tripped stops down through Y99.70 to a low of Y97.28 before short covering […]