Tag Archives: NOK
FX Daily Strategist: US
FX markets lacking direction, correlation between yields USD looser than many supposed FX markets continue to trade with a lack of clear direction, characterised by quick reversals and a range of mostly unconvincing explanations being wheeled out for the moves. A slow grind higher in equities in the US session, after sharp opening losses suggested […]
FX Daily Strategist: Europe
USD loses most of its earlier-week gains; soft US core a factor A quick look-back shows the USD was actually weaker on the week (in DXY terms at least) and within G10 was only stronger versus CAD, NOK and JPY. USD gains earlier in the week followed the break higher in Treasury yields, the latter […]
NOK Views
Neutral NOK positions despite recent rally Norwegian investors have not acquired any major NOK positions during the past six months despite the recent strong performance of the NOK, suggesting the rally has been driven by foreign investors.
Daily FX Technical Strategy: NOK shadows oil
The spike in crude oil prices to new 2012 highs overnight is lending support to the NOK. EUR/NOK is being driven relentlessly lower and following a weeekly close below 7.4190, we would be encouraged to target the 2003 low at 7.2175.
Euro-outlook stabilized but still vulnerable
The Greek debt negotiations to reduce Greek debt/GDP to 120% by 2020 have been accepted as Euro zone finance ministers this morning approved the €130bn second Greek bail-out package. ECB will participate by contributing approx.
Currency Strategy
Small and sound supersede size For the past two years, our long-term outlook has been focused on fundamentals as being the most important driver for currencies. The intensification of the euro crisis last summer made undervalued (fundamentally weak) currencies appreciate temporarily.
FX Strategist – Weekly update: cross signals
· The euro has weakened on net against all G10 and major EM currencies in the first weeks of the new year. This broad weakening has been a function of ECB easing, which has weighed on the euro, and stronger global data, which have boosted risk-sensitive currencies broadly. The key question for currency market participants […]
UBS Morning Adviser America
Euro Tests 1.27 After a subdued opening, the euro and other risk assets came under pressure. While the move was largely stop-loss driven, comments by David Riley, the head of sovereign ratings sparked some selling. Riley said that the ECB must step in to prevent a ‘cataclysmic’ collapse of the euro.
UBS Morning Adviser
The euro gave back most of yesterday’s gains during an otherwise quiet Asia session. EURUSD traded 1.2729-1.2793 and USDJPY 76.80-76.94. The recent barrage of Fed commentary continues. On Tuesday, officials sounded cautious on their overall views on the US economy, though there seemed to be diverging opinions on just how to proceed in the immediate […]
UBS Morning Adviser Europe
Risk appetite nudged higher in Asia after China’s December trade surplus came in well above consensus. AUD and NZD advanced throughout the session and even the euro staged a modest comeback. Surprisingly, AUD was not held back by the very weak China import numbers which were the root cause of the wider trade surplus.
Big G10 FX charts show Euro and Aussie at new opposite extremes
USD The USD/G10 basket has yet to extend beyond its recent tops as the pro-risk currencies have held their own against the greenback even as the Euro has suffered of late. The relative strength of the greenback in an environment of still elevated risk appetite is significant relative to previous behaviour.
FX Daily Strategist: Europe
New Year rally fades; range trading likely ahead of Friday’s NFP The risk-on momentum that rang in the New Year dissipated on Wednesday despite the higher revision of the Eurozone Services PMI. In fact, EUR remains weighed down on the crosses with EURAUD falling to new record lows and EURJPY nearing 12-year lows as consolidates […]