Tag Archives: EUR/JPY
European Market Analysis
EUR/USD – settles for the time being between $1.2760/70, after recovery earlier touched a high at $1.2775. Several traders have mentioned interest to go short on approach to $1.2780, with one major investment bank adding that they see the area between $1.2770/1.2800 as the area they will add to shorts. Further resistance seen in the […]
IMM CFTC: EUR shorts hits fresh record levels again
Investors and speculators continued to sell Euros into the new year and it has now become an issue of selling the European currency against most other currencies. Last week an additional 11.03K contracts were sold bringing the net EUR short position to a new record of -127.9k contracts, the equivalent of EUR 16 billion.
Technical Analysis
Euro ended last week on a slippery slope with the ECB Eur index ending below its key support, EURUSD ending below the 1.2860 key junction and EURJPY trading at an 11y low. French 10y OAT’s at dangerous levels, threatning to break and trigger a substantial rise in yield,
Asian Market Summary
Regional equities mostly a tad higher in cautious trade as investors remain wary over Europe’s debt crisis; the Nikkei falls 0.8%, the S&P/ASX drops 1.1%, the HSI adds 0.4%, the Kospi is flat, the Sensex advances 0.3%, the Shanghai Composite increases 0.2%, and Singapore’s STI adds 0.7%.
Daily Forex Outlook
EUR USD (1.3030) Better-than-expected data from China, Germany and the USA probably helped to boost equity markets yesterday. The euro, which had just four trading days ago suffered an 11-month low (1.2860), rebound. Whether inspired by the ‘risk-on’ equity markets, by a January rebalancing of portfolios that required dollar selling, or by news of record […]
Market Analysis
EUR/USD Continues to crater, tests $1.2900 area with a print or two possibly below. Stops sub $1.2920 added momentum and weak stock backdrop today damping some of the risk-appetite that materialized Tuesday. Other risk favorites also under pressure as stocks wilt and as positions are pared back in early new year chop. Further stops sub […]
Market Analysis
EUR/USD – Low print was $1.2944 in small, $1.29448 in regular, a trader confirms, and pair has rebounded to $1.2960 as some see that dip as a buy opportunity, at least short-term. Bids eyed at 41.2900/10 area, just under the Monday lows seen in those few centers that were open.
Market Analysis
EUR/USD – Stops triggered through $1.2995/90 as funds add weight, traders say, with EUR/USD extending lows to $1.2978. Reported demand at $1.2975/70 so far remain untouched. A break of $1.2970 to expose next batch of stops, which if triggered to then open a deeper move toward $1.2950.
JPY ANALYSIS
Opened in Asia at Y76.73 and edged up to Y76.82 in early trade before EUR/JPY and dollar sales from real money names combined to push the pair down to Y76.62. EUR/JPY failed to maintain a foothold above the Y100 level falling to Y99.84 from Y100.25.
Market Analysis
GBP – Gets some relief as UK construction PMi comes in stronger than forecast at 53.2, from Nov 52.3, with rate able to edge up from $1.5622 to $1.5632 on the initial react. Rate currently trades around $1.5627, holding off recently posted pullback lows of $1.5615.
Market Analysis
USD/JPY – Still under pressure this morning after some Asian real money sales sent dollar down from Y76.82 to Y76.62. Bounces are very shallow and the market looks to be grinding lower into the reportedly very large bids sitting on machines under Y76.60, with talk that they are of semi-official flavour.
JPY ANALYSIS
Opened in Asia at Y76.73 and edged up to Y76.82 in early trade before EUR/JPY and USD sales from real money names combined to push the pair down to Y76.62. EUR/USD failed to maintain a foothold above the Y100 level falling to Y99.84 from Y100.25.