Tag Archives: NOK
FX Daily Strategist: Europe
– SNB to maintain the pressure on CHF The USD remains well supported after stronger than expected US February retail sales data, which implies that our Q1 GDP growth projection has moved closer to 2% q/q saar from 1.5% previously.
Norges Bank set to adjust forecast down – once again
– We expect the Norwegian central bank, Norges Bank, to remain on hold at the policy meeting this week (rate decision to be published on Thursday).
FX G10/EM Morning Trader Views
EUR – Quiet day yesterday that ended by squeezing out weak payrol/italy downgrade shorts from Friday below 1.3000.
Foreign Exchange Flows
Dovish CBs Sold Central bank expectations remain the dominant driver in FX markets. Last week the currencies least preferred were the ones where investors do not expect any sign of ‘stimulus’ withdrawal anytime soon.
FX G10/EM Morning Trader Views
EUR – A quiet Asia session post Friday’s moves as mkt settles, despite the late attempt at lower as Fitch caught up in downgrading Italy.
Strong NOK to trigger rate cuts?
Norges Bank has over the past year acknowledged that the strong NOK is reflecting the country’s superb fiscal and economic position rather than expectations of Norway being the odd man out hiking rates alone.
Technical Alert
€uro rebound, USD/JPY breaking higher… EUR/USD 1.3092 Post ECB reaction… USD/JPY 95.35 Broke to a new trend high… EUR/GBP 0.8733 Bearish triangle proven wrong…
FX G10/EM Morning Trader Views
EUR – Draghi time has arrived and with little fanfare it must be said, ADP data yesterday set the tone with the greenback rallying across the board with the headline pair trading 1.2965 in NYC and there is little bounce overnight.
FX Daily Strategist: Europe
– EUR reaction hinges on ECB inflation assessment; GBP vulnerable ahead of the BoE The EUR continues to trade with a heavy tone even as there is little sign of distress in the Italian bond markets – Italy- Germany 10Y spread has tightened further to 320bps, while Spain’s 10Y yields trade near 5%.
FX G10/EM Morning Trader Views
EUR – Another quiet session for eur in a 42-71 range in Asia as mkt awaits Draghi tomorrow. Expecting 1.3080/00 to again provide resistance topside, as it did yesterday,
FX G10/EM Morning Trader Views
EUR – Quiet Asia session again as we head into the PMI no.s today in europe. We held the dip at 1.2980 yesterday in ldn and ny well with spec and corp buyers,
FX G10/EM Morning Trader Views
EUR – Nasty squeeze back towards 1.3040 in late NY Friday cleaned the decks of a few short/stops topside however we have failed to make any further eur gains in Asia.