Tag Archives: GBP
CFTC: Positive dollar sentiment weakens further
The weekly data from the US CFTC covering the week ending July 31 showed another big reduction in the aggregate net long dollar position held by hedge funds and other large speculators in IMM currency futures.
GBP Analysis
Opened early Europe at $1.5515, stg0.7847, GBP closed in NY at $1.5515 after rate had seen a spike high of $1.5680 into ECB Draghi’s press conference, only to drop back to $1.5490 as comments failed to live up to market expectations for euro support.
GBP Analysis
Opened early Europe at $1.5542, stg0.7882, GBP closed in NY at $1.5540, off session lows of $1.5531 after rate lost further ground following the FOMC announcement.
GBP Analysis
Opened early Europe at $1.5663, stg0.7848, GBP closed in NY at $1.5673 after settling between $1.5665/85 through the NY afternoon, this after rate had recovered from earlier lows of $1.5625 to the NY high of $1.5698.
GBP Analysis
Opened early Europe at $1.5721, stg0.7812, GBP closed in NY at $1.5707 with rate squeezing to $1.5703 overnight lows into early Asia before turning higher and pushing to highs of $1.5730.
GBP Analysis
Opened early Europe at $1.5725, stg0.7812, GBP closed in NY Friday at $1.5748 after rate had recovered from earlier Asian lows of $1.5666 to $1.5768.
FX G10 and EM Morning Trader Views
G10 EUR – Late wild finish to the week in ny with a new high (1.2390) followed by a 100 point retracement – Data all back loaded this week starting with FED (wed) before ECB (thurs) and payrols (Fri.) and let us not forget month end tomorrow –
GBP Analysis
Opened early Europe at $1.5682, stg0.7838, GBP closed in NY at $1.5685, off extended recovery highs of $1.5724 having met stiff resistance from offers placed into the Jul 19 highs at $1.5735.
FX G10 and EM Morning Trader Views
G10 EUR – Mr Draghi was all it took to turn a mkt on its head yesterday – struggling on the days lows at 1.2118 ‘we will do whatever it takes’ ‘managing yields’ – and eurusd never looked back –
GBP Analysis
Opened early Europe at $1.5485, stg0.7842, GBP closed in NY at $1.5496, off recovery highs of $1.5518 after rate had been knocked to intraday lows of $1.5459 following the release of poor 2Q GDP data.
FX G10 and EM Morning Trader Views
G10 EUR – Well yesterday turned early on 1 headline regarding the ESM banking license and never looked back – Weak UK data, IFO all mattered not in the face of cutting from lev , spec and ctas –
GBP Analysis
Opened early Europe at $1.5512, stg0.7784, GBP closed in NY at $1.5505 after recovering from a NY session low of $1.5489, easing off recovery highs of $1.5520 into the close.