Tag Archives: GBP
FX CFTC: Dollar longs pared as EUR, JPY and GBP are bought
Currency speculators had a busy time in the week to last Tuesday with many position adjustments occuring all resulting in a net reduction of long dollar positions to the lowest level in a month, according to the latest data from the US Commodity Futures and Trading Commission. The net long dollar position versus eight IMM […]
GBP Analysis
GBP closed in NY at $1.5816, the rate having recovered off post UK retail sales data lows of $1.5770 to make a brief show above resistance at $1.5820 ($1.5822 NY high). Rate extended recovery to $1.5827, settling between $1.5810/27 through most of the overnight session before extending the base to $1.5807 ahead of Europe.
GBP Analysis
Cable closed in NY at $1.5863, off session lows of $1.5817, as well as above its 200-dma (Wednesday $1.5857, today $1.5856). The recovery continued into Asia, the rate pushing to a session high of $1.5885 before faltering then dropping back as markets reacted to the release of weaker than expected HSBC China PMI data, which […]
GBP Analysis
Cable closed in NY at $1.5891, off session highs of $1.5915, after rate had been pulled higher on the coat tails of euro-dollar’s stronger recovery, which allowed the cross to extend its recovery off lows of stg0.8283 to stg0.8343. Cable closed above its 200-dma (Mon $1.5861, today $1.5859) and seen supporting the pound’s underlying buoyant […]
Risk appetite index is back in the risk-neutral zone
The SEB Risk appetite index (RAI) * RAI moved back into it’s the risk-neutral zone after being in the risk-aversion zone almost all the time since Aug 2011. Since RAI have been correlated with the OECD leading indicator (which is lagging two months) this is a positive sign for the economic recovery going forward.
GBP Analysis
Cable closed in NY Friday at $1.5836, having been pressured to an extended recovery high of $1.5862 on a general dollar sell off following release of weaker than expected US data. Rate eased into Asian trading, marking session lows at $1.5829 before recovering in a lightly traded session to a high of $1.5850.
GBP Analysis
Cable closed in NY at $1.5715 with rate squeezed to an early low into Asia trade of $1.5695 as rate was influenced by the EUR/USD move lower, in turn led by EUR/JPY sales. Cable recovered, in line with EUR/USD, to $1.5724 before upside momentum faded.
GBP Analysis
Cable closed in NY at $1.5667, off session lows of $1.5660, with rate able to hold above the earlier Asian base at $1.5650 despite the Fitch outlook change for the UK to negative. Rate edged to overnight highs at $1.5671 into early Asian dealing before reversing lower, the rate extending its pullback lows off Tuesday’s […]
GBP Analysis
Cable closed in NY at $1.5707, off an extended recovery high of $1.5748 after rate had bounced from a pullback low of $1.5621 (76.4% $1.5603/74) on strong fix demand and heavy EUR/GBP sales from a major French name.
USD consolidates in Asia after its post-FOMC rally
Very little activity to report from the Asian session after the US dollar reigned supreme after the FOMC meeting. Currencies were content to consolidate at lower levels versus the greenback, awaiting fresh impetus from the European and US sessions.
GBP Analysis
Closed in NY at $1.5637 after rate had been pressured to intraday lows of $1.5603 with recovery to $1.5646 through the rest of the session seen laboured as it trailed EUR/USD stronger correction. This in turn allowed EUR/GBP to break back above stg0.84, marking a high in NY at stg0.8417.
No further stimulus from BOJ; USDJPY edges lower
Asia’s focus was on the Bank of Japan today, awaiting its announcement after a two-day meeting. After an unusual delay, the BOJ announced no change in interest rates, holding then steady at 0.1 percent (what else can they do?) while there were no new easing steps announced.