Tag Archives: NZD
Technical Analysis
NZD, EM’s under pressure, GBP in demand… EUR/USD Congestion… GBP/USD 1.6063 key to development… NZD/USD Soon to exit the bear flag… EUR/SEK Closed below the 8.87 supp… USD/SEK Still bids in the 6.72/74-area… EUR/NOK Correction target met… NOK/SEK A bearish key day reversal.
FX Daily Strategist: Europe
USD reverses course during the NY trading day The New York trading session saw the USD fall against all G10 currencies except the NZD (undermined by comments from PM Key), but the S&P 500 barely budged to close flat. The EUR dipped briefly below 1.30, but surged back above 1.31 with leveraged stops cited as […]
Americas FX Daily – EURUSD dips back below 1.30
EURUSD dips back below 1.30 What happened overnight – China widens USDCNY trading band to +/- 1% from +/-0.5% previously – WSJ reports Moody’s might cuts ratings on 114 European institutions
FX Daily Strategist: Europe
No FX follow-through from Friday’s payrolls report – yet With most European centres closed on Monday, the follow-through in currency markets from Friday’s weaker payrolls report has been limited. US stocks ended the day down, and Treasuries have held Friday’s post-payrolls bid, with 10yr and 30yr bond yields -2bp and -3bp respectively; 2s are unchanged […]
FX Daily Strategist: US
Better IFO followed by profit taking on EUR-crosses Markets have been trading without any clear sense of conviction, however the mood in FX and equities has been more riskoff. The concern appears centred on Spain with the IBEX down 1.60%, while other bourses are only about 0.20% lower- this however is at odds with price […]
Small comfort for the NZD as trade data improves in February
The Asian session kicked off with the release of New Zealand’s trade data for February, which showed a welcome rebound from January’s disappointment. The balance reverted back into surplus with +NZ$161 mln print, slightly better than the consensus +NZ$153 mln, compounded by an upward revision to January’s deficit to –NZ$159 mln, which gave the NZD […]
FX CFTC: Dollar longs pared as EUR, JPY and GBP are bought
Currency speculators had a busy time in the week to last Tuesday with many position adjustments occuring all resulting in a net reduction of long dollar positions to the lowest level in a month, according to the latest data from the US Commodity Futures and Trading Commission. The net long dollar position versus eight IMM […]
FX Daily Strategist: Europe
FX Facts Fit The Figures Thursday was something of a rarity in FX markets in that there was no need for journalistic licence in fitting facts to figures. Moves in most of the G10 currencies could credibly be attributed to idiosyncratic economic news.
AUD pushed lower as China flash PMI data slides further
Signs of weakening global growth were reflected in today’s flash estimate of China’s manufacturing PMI data for March, which slid to 48.1 from 49.6 last time. Note this is the first “real month” of data this year now that the Lunar New Year distortions are out of the way and is not suggesting a rosy […]
Fears of China slowdown retreat; risk currencies regain ground
In contrast to BHP Billiton’s gloomy outlook for China demand for iron ore announced yesterday, Australia’s Bureau of Resources and Energy Economics (BREE) issued its latest forecasts – and it was certainly upbeat. The agency expects iron ore exports to rise by more than 50 percent by 2016/17 compared with last year on the back […]
Risk appetite index is back in the risk-neutral zone
The SEB Risk appetite index (RAI) * RAI moved back into it’s the risk-neutral zone after being in the risk-aversion zone almost all the time since Aug 2011. Since RAI have been correlated with the OECD leading indicator (which is lagging two months) this is a positive sign for the economic recovery going forward.
FX Daily Strategist: US
US yields still in the driver seat pushing USD higher US Treasury yields remain the primary driver in FX, and yesterday’s fall back in yields saw a partial reversal of most of the moves witnessed in the prior three days, with the USD softening particularly vs. NZD (helped by very strong PMI) but also AUD.