Tag Archives: GBP
GBP Analysis
Cable closed in NY at $1.5737, after rate had bounced off traded lows at $1.5696 to a NY recovery high of $1.5754. Rate initially dipped to $1.5725 in early Asian trade, the move influenced by the Aussie negative react to disappointing jobs data, with recovery able to edge up to retest that NY recovery high.
Currency Weekly : QE pendulum to swing in JPY’s favour
The recent BoJ inflation goal announcement and QE expansion caught the market by surprise. Since the announcement, USD-JPY has reached nine-month highs. We think the price action looks overdone.
Speculative Positions
Speculators scaled back on short EUR contracts and the JPY net speculative position turned short The IMM data for the period 22-28 Feb revealed: * The net short speculative EUR position decreased significantly as speculators once again scaled back on their short contracts.
GBP Analysis
Cable closed in NY at $1.5957 after trade in NY was contained within a range of $1.5930/75, and it had recovered from an earlier European dip low of $1.5895. Rate again closed above its 200-dma, yesterday at $1.5899-today $1.5897, and was seen keeping the recent buoyant tone in place though upside progress seen thwarted by […]
GBP Analysis
Cable closed in NY at $1.5919, having been pulled to a session low of $1.5905 by the deeper EUR/USD fall as markets reacted to Fed Bernanke comments countering speculation for QE3. Rate closed above its key 200-dma level at $1.5902 (today $1.5899) and was seen keeping its recent underlying buoyant tone in place.
GBP Analysis
GBP closed in NY at $1.5901, having pierced above its key 200-dma at $1.5903 (today $1.5902), though failed to close above. Rate dipped back to $1.5898 into early Asia before heading higher, the move triggering stops above $1.5910 before meeting resistance ahead of Feb 8 highs at $1.5929.
GBP Analysis
Cable closed in NY at $1.5875, recovering off pullback lows of $1.5870 after rate had seen extended highs of $1.5900. The recovery extended into early Asian trade on cross yen demand, pushing to $1.5904.
GBP Analysis
Cable closed in NY at $1.5740, having trailed EUR/USD stronger recovery extension to a session high of $1.5748, which in turn allowed the cross to extend its recent rise to stg0.8500.
GBP Analysis
GBP closed in NY at $1.5668, having been pressed to lows of $1.5648 during the session following dovish BOE Minutes. Rate was held between $1.5660/70 in early Asia before dipping to $1.5650 as rate tracked Aussie’s dip to take out barrier interest at $1.0600.
GBP Analysis
Cable closed in NY Friday at $1.5835, marked lows into early Asia Monday at $1.5834 before pushing higher, the rate tracking EUR/USD early move up with ‘risk on’ trade seen prompted by an expected positive outcome from today’s Eurogroup meeting, concerning Greek debt aid, as well as the weekend cut in China’s RRR by 50bps.
European FX Daily – Risk rally after Greek lawmakers pass austerity plans
– The AUD and SGD lead rally vs the USD, Asian equities up 0.2-0.7% – Greek parliament approves austerity measures – Greek PSI in focus – Firmer US data is supportive of the risk complex
Currency Outlook: GBP – Slave to EUR fortunes
The market remains fixated by the euro crisis, ensuring that GBP largely takes its cue from EUR-USD. We examine five potential catalysts for this link to break. While there is much fiscal pain to come, there are not yet grounds for GBP to move independently of EUR-USD.