Tag Archives: GBP
FX Market Analysis
GBP: Opened early Europe at $1.5862, stg0.7903, GBP closed in NY at $1.5872 after rate had eased off session highs of $1.5910, seen after a stronger than expected early release of UK services PMI data (was due to be released this morning).
FX Market Analysis
GBP: Opened early Europe at $1.5885, stg0.7936, GBP opened in Asia at $1.5885 and ground lower before dip demand recovered and settled in a tight range.
Asia today: No change RBA; Statement a tad more upbeat than exp
After the flurry of PMI data yesterday, Asia switched to central bank mode with the RBA announcement the key item on the agenda. The RBA left rates unchanged at 3.5 percent, as expected, though the economy is running close to trend. It noted that previous rate cuts are still working their way through to the […]
FX Market Analysis
GBP: Opened early Europe at $1.5872, stg0.7921, GBP opened in Asia at $1.5875 and ground lower in tandem with euro-dollar to print $1.5850, later recovering on dip demand as traders reported of thin volumes.
FX G10 and EM Morning Trader Views
G10 EUR – Big week for the euro with lots expected of the ECB on Thursday – A new high at 1.2637 Friday cleared a few more shorts out of the mkt but we struggled to sustain that move, backed up by the rally in Spanish 10 yr yields on Friday back towards 7%.
CFTC: EUR short reduced as dollar selling continued
Speculative traders in IMM currency futures continued to sell dollars ahead of Jackson Hole last Friday. The data covering the week ending August 28 showed an aggregate dollar short position of USD 5 billion with most of the selling occuring against the EUR and to a lesser extent the JPY and CAD.
FX Market Analysis
GBP: Opened early Europe at $1.5823, stg0.7923, GBP closed in NY at $1.5786, after rate had been pressured to lows of $1.5772 following the earlier rejection from $1.5875.
FX Market Analysis
GBP: Opened early Europe at $1.5823, stg0.7922, GBP closed in NY at $1.5833, after rate had seen session highs of $1.5855 before pulling back to $1.5809.
FX Market Analysis
GBP: Opened early Europe at $1.5814, stg0.7940, Cable closed in NY at $1.5819 after pulling back from a fix driven high of $1.5837.
FX G10 and EM Morning Trader Views
G10 EUR – Still playing the 1.2450/1.2600 range – some good rm and model buying yest took us back above 1.25 while some decent lev selling capped us at 1.2560-80 area – support is still 1.2530 then 1.2450 – topside resistance is 1.2590 (fibo) then 1.2600 (100 day m.a) – currently short against the recent […]
FX Market Analysis
GBP: Opened early Europe at $1.5786, stg0.7909, GBP closed in NY at $1.5788, after pulling back from an intraday high of $1.5829 (NY high $1.5817) in a quiet, London holiday session.
CFTC: Dollar position negative for the first time in 11 months
Money managers continued as net sellers of dollars for the fifth week in a row according to data from the CFTC covering the end of trading on August 21, which was one day ahead of the release of the dovish Federal Open Market Committee minutes from the US Federal Reserve.