Tag Archives: NOK
European FX Daily
– Asian stock markets fell, currencies resilient – Moody’s upgraded Philippines to Ba1, in line with S&P and Fitch – US stock markets to close as Hurricane Sandy approaches – Italy to sell six-month bills today
Americas FX Daily
All eyes on Jackson Hole What happened overnight * Japan’s industrial production sharply weaker than expected in July * German retail sales surprise weak in July
Asia today: Oz Q2 capital expenditure firm, but AUD stuck at lows
Once again, Asia started today’s session in a positive mood with the spillover from better US data encouraging risk appetite. It didn’t last, however, and currency pairs were slumped at the bottom of the day’s (albeit narrow) range by lunch.
A slow day so far in FX land for non-NOK currencies
The NOK was all over the place today and sterling perked up a bit against the Euro, but it was a slow day today in FX land as the market awaits the rigours of the end of summer.
European FX Daily
* Majors pared gains, Asian markets mixed * Korea’s current account surplus hit record in July * Norges bank likely on hold, Brazil central bank likely to deliver rate cuts
European FX Daily
*Fed minutes drive equities stronger and the USD weaker * China flash PMI weakened in August
Americas FX Daily
Risky assets open the week on a light bid What happened overnight * Spiegel reports ECB is considering imposing cap on Spanish yields * WSJ reports Spain seeks ECB commitment to unlimited bond purchases
European FX Daily
* Asia FX in tight ranges * Flash PMIs key on the calendar in the euro zone this week * In the US, durable goods orders and FOMC minutes in focus
FX Daily Strategist: Europe
The USD comeback likely to short-lived We expect Thursday’s trend of USD strength, triggered at first by slightly softer China data, to be a reflection of profit taking in quiet markets, rather than a perception that the USD is becoming a more highly favoured currency.
FX Daily: Fundamental and technical support for carry
* On a technical level carry looks attractive as our Style Allocation Model (SAM) indentifies a “risk on” environment and carry needs to catch up with the equity market.
Waiting for German Constitutional court and the FOMC minutes
No fireworks again today as the market eyed whether the German constitutional court would thrown the entire ESM ratification process into chaos. US FOMC minutes are up tomorrow.
Speculative Positions
Normalization of previous risk-off positioning the major theme Summary of the non-commercial (“speculative”) accounts in the CoT report (June 27 – July 3)