Analitics
The Aussie hasn’t hit the bottom of the cliff yet
The lack of market moving announcements in Asia kept FX price action fairly range bound. Fears about a prolonged slowdown in China and Europe have created a ceiling for risk assets, especially commodity currencies like the Aussie and Kiwi.
Source: Forex.com
23.03.2012
Global growth concerns weigh on sentiment, boost havens
The Japanese yen outperformed against G10 currencies and the U.S. dollar was much firmer as the perceived safe havens strengthened on concerns of a global growth slowdown as well as positive economic data out of Japan and the U.S. US stock markets extended losses amid fears that growth may slow more sharply than previously anticipated with unexpected declines in many European PMI’s into contractionary territory in March while China’s unofficial flash manufacturing PMI dropped to 48.1 from 49.6 fueling concerns of a hard landing – which may be overdone in our view.
Source: Forex.com
22.03.2012
No Robin Hood Budget from Osborne
Today’s Budget in the UK was fairly typical–a media frenzy in the build-up, the Commons getting boisterous as the Chancellor announced his tax and spend plans for the next fiscal year and the market reaction was pretty much negligible.
Source: Forex.com
21.03.2012
UK inflation could be stickier than the BOE forecasts
The latest price data out of the UK was somewhat contradictory. The annual headline rate of price gains fell to its lowest level since November 2010 at 3.4% in February, however the monthly rate jumped by 0.6% and both the monthly and annual rate were above expectations. This suggests that the Bank of England can’t get complacent about price pressures in the UK as inflation may prove to be stickier than expected.
Source: Forex.com
20.03.2012
The dollar finds its feet
It’s been a fairly directionless morning and tight ranges seem to prevail. After the data onslaught from last week and the FOMC meeting, this week seems much quieter with little to spur price action. After Friday’s rout in the dollar that saw EURUSD jump to 1.3190 and USDJPY to back away from 84.00, the greenback has staged a recovery today with most of the majors stuck in a range as a result.
We noted last week that the dollar rally had not been broad-based and instead had been fairly concentrated against the Aussie and the yen in particular. Yen weakness is the key theme in FX right now, with yen weakness spreading beyond USDJPY. GBPJPY broke above its weekly cloud at 128.45, which now opens the way to 140.
Source: Forex.com
19.03.2012
Why has EURUSD gone nowhere this week?
It’s been an important week after the FOMC suggested that the Bank sees the US economy as being on a “self-sustaining” recovery and US initial jobless claims fell to their lowest level since 2008. This has caused US Treasury yields to surge more than 20 basis points, which has boosted USDJPY to multi-month highs. However, as we end the week the dollar has started to come off and we could be in for a quiet session.
The interesting thing about this “shift” in Treasury yields is that EURUSD has been remarkably resilient. The Fed’s optimism coupled with the improved tone to US economic data is being felt in equity markets across the world, but not in EURUSD, which has moved in a 200-pip range so far this week, hardly the type of move you associate with a serious change in the market’s mind-set.
Source: Forex.com
16.03.2012
Another jumpy session for investors in Asia
It was choppy season in Asia, with investors driving commodity currencies to multi-month lows against the dollar. Yesterday, Chinese premier Wen didn’t paint a pretty picture of China’s future if things don’t change in Beijing. His warnings led investors to the conclusion that the government’s crackdown on real-estate speculation will keep officials from relaxing current restrictions to Chinese growth, and given China’s accounts for a large percentage of global commodity demand, when combined with the Fed apparently taking QE3 off the table in the near-term the news didn’t bode well for commodity prices.
Source: Forex.com
15.03.2012
Europe acts on debt crisis, but risks lie ahead
It seems like it could be a quiet close to the week (famous last words). It is Veterans Day in the US; although the S&P is open volumes could be patchy.
Source: Forex.com
11.11.2011
The BOE is expected to move to the sidelines
The BOE surprised markets last month when it announced an additional £75bn of quantitative easing through its Asset Purchase Program, bringing the total amount to £275bn. However,
Source: Forex.com
10.11.2011
Chinese inflation data
Consumer prices in China came in as expected at 5.5%y/y increase, which is the lowest level since May of this year. PPI numbers out at the same time showed a 5.0% rise in producer prices over the last year, this was lower than the 5.7% expected increase.
Source: Forex.com
09.11.2011
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