Tag Archives: GBP
Speculative Positions
JPY net short slightly trimmed SEB Risk appetite index (RAI) Risk appetite was more or less flat last week, congesting the rapid fall out of the risk neutral zone. Summary of the speculative accounts in the IMM part of the CFTC report for the period 4-10 April:
GBP Analysis
GBP closed in NY at $1.6054, having recovered from a pullback low of $1.6009 in early NY (off earlier European highs of $1.6078) to $1.6072. Rate picked up an early bid tone into Asia on the back of GBP/JPY demand, the rate edging to an overnight high of $1.6062 before drifting off to $1.6039 as […]
High AUD takes its toll on Oz terms of trade
The end of the week and currencies barely changed from the kick-off on Monday was enough of an incentive for Asia to kick its heels today. Data releases were minor and currencies stuck to tight ranges.
GBP Analysis
GBP closed in NY at $1.6021 after rate had extended Wednesday’s post BOE Minutes induced rally to $1.6043. Trade through the overnight Asian session was contained within a $1.6015/35 consolidation range.
FX Daily Strategist: Europe
Spanish auctions the litmus test – with the potential for a significant rebound on a good result The USD held strong against most G10 currencies while equities closed in a slump. With an empty US calendar and no headlines, inertia seemed to have carried the markets through the end of the NY trading day.
Technical Analysis
NZD, EM’s under pressure, GBP in demand… EUR/USD Congestion… GBP/USD 1.6063 key to development… NZD/USD Soon to exit the bear flag… EUR/SEK Closed below the 8.87 supp… USD/SEK Still bids in the 6.72/74-area… EUR/NOK Correction target met… NOK/SEK A bearish key day reversal.
Another China easing rumour supports risk in Asia
At the start of the Asian session we heard more rumours about an imminent China easing, which set risk off on a solid footing for the session. The China chatter came from a Xinhua news agency piece “announcing” (according to an un-named central bank official) that the central bank was to increase reverse repo operations […]
GBP Analysis
Opened early Europe at $1.5931 stg0.8238 Cable closed in NY at $1.5920 after rate had corrected back from its earlier European highs of $1.5972 to $1.5916 in NY. Rate edged higher into early Asian dealing with good demand seen for sterling-yen from Japanese accounts which pushed cable to highs of $1.5945.
FX Daily Strategist: Europe
Sentiment looks to be improving, but headwinds ahead Commodity currencies emerged as the top FX performers against the USD, with the CAD gaining nearly 1% against the USD after the BoC’s hawkish statement. Market sentiment held up following the successful Spanish T-bill auctions and the better-than-expected ZEW survey: Italian and Spanish 10yr yields closed 11 […]
GBP Analysis
Cable closed in NY at $1.5844, off traded lows at $1.5841. Rate nudged to an early high of $1.5862 in early Asia before turning lower, the rate dragged down by EUR/USD slippage though part of the downside pressure was diverted over to EUR/GBP which eased from an early high of stg0.82465 to stg0.8221.
Muted market reaction to China’s Yuan band widening
Today’s Asian session was a rather muted affair, despite a couple of weekend announcements from the People’s Bank of China. They announced a widening of its daily Yuan trading band to 1 percent in either direction from the fix, up from the existing 0.5 percent with intended aim according to the PBOC to “meet market […]
GBP Analysis
Cable closed in NY at $1.5909 after recovering off a late session pullback low of $1.5888, with the corrective rally continuing into Asia as rate edged on to $1.5930. The rally trailed EUR/USD, which in turn allowed EUR/GBP to edge up from early Asian lows of stg0.8234 to stg0.8249.