Tag Archives: EUR/PLN
Technical Alert – euro short covering across the board
One big theme emerging yesterday, euro shortcovering. So the common currency up agains everthing else, even helping pushing AUD and NZD lower ag the greenback. The correction will likely continue for a day or two longer given the extremely oversold status.
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.
Technical Analysis
The correctional moves higher in EURUSD & EURGBP seem to be cut short. Back under 1.2720 & 0.8239 would strongly argue for fresh lows… EURSEK over 8.83 would correctively target ~8.85\8.87 and EURNOK added a potentially bullish print yesterday and a 7.6760 watch is warranted…
European Market Analysis
EUR/USD – leveraged sellers cited for adding the extra weight to take rate through its overnight low at $1.2760, with stops adding to the selling to take rate down to $1.2748 ($1.2749 61.8% $1.2720/96). Rate currently trades around $1.2752
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 […]
Technical Alert
Good morning, The euro is still underperforming its major peers and the EuroStoxx50 index also looks set to lose against others… Next key ref for those at 1.2588 & 2,162… EURGBP seems set to extend the drop into the lower-0.82s (not excluding even bigger losses)… EURSEK & EURNOK encountered some responsive buying and above 8.8700 […]
Intervention risk on the rise and how to play it
Polish CPI and current account balance will be released today at 13:00. Inflation is expected to accelerate to 4.5% y/y in Nov. from 4.3%. Meanwhile, the current account balance should post another large deficit of EUR1.9bn in October.
SELL PLN? WE FEEL THAT’S THE WAY FWD
The recent turmoil in the financial markets has confirmed EMEA FX remains the weakest link in the EM space. In CEE, we see that the Polish zloty is one of the most sensitive currencies to global market headwinds. Valuation metrics suggests that the PLN is too strong and the structure of the balance of payments […]
UniCredit EEMEA Daily
News KZ: Positive – Industrial output up 4.7% in May yoy, 5.8% in Jan-May and down 0.9% mom sa (p2) TK: Negative – April 2011 C/A posts USD 7.7bn deficit (p2) SK: Negative – May CPI comes in at 4.0 % yoy (p2)