May 24th, 2013 - Daily FX Market Roundup 05-24-13 Breathing Life into the Euro Dollar Likely to be at the Whim of Stocks Next Week JPY – Victim of Equity Market Volatility GBP – Reality Check for Sterling AUD – Deep Losses in Commodity Currencies This Past Week NZD – Larger than Expected drop in Trade Surplus CAD – Bank of Canada Meets Next Week Breathing Life i...
May 24th, 2013 - Based on the price action of the currency and equity markets, risk aversion is driving investment flows. The U.S. dollar is trading higher against all of the major currencies with the exception of the Japanese Yen and Swiss Franc. This performance is finally consistent with what we would expect when equities are selling off. USD/JPY tested 101 in the early North A...
May 24th, 2013 - Market Drivers May 24, 2013 IFO beats handily driving EUR/USD towards 1.3000 Nikkei seesaw putting USD/JPY on roller-coaster Nikkei 0.89% Europe 0.56% Oil $94/bbl Gold $1387/oz. Europe and Asia: NZD Balance 157M vs. 475M EUR German GDP -1.4% vs. -1.4% EUR German GfK Consumer Confidence Survey 6.5 vs. 6.2 EUR German IFO - Business Climate 105.7 vs. 104.5 ...
May 23rd, 2013 - Daily FX Market Roundup 05-23-13 Dollar and the Lack of Safe Haven Demand EUR - Lifted by Stronger PMIs Is the USD/JPY Rally Over? GBP – To Remain Weak and Sensitive to Risk Appetite AUD – Bounces Off 11 Month Lows Despite Weak Chinese Data NZD – Trade Report Expected this Evening CAD – Oil Prices Remain Unchanged but Gold Rebounds Nicely Dollar an...
May 23rd, 2013 - The biggest move in the FX markets today is in the Japanese Yen. The 7% decline in the Nikkei overnight kicked off a wave of deleveraging in the financial markets as investors around the world hit the panic button. What is interesting about the move is that no one is buying U.S. dollars, a currency that generally performs well during risk aversion. The reason is be...
May 23rd, 2013 - Market Drivers for May 23 2013 Nikkei plunges by 7% taking USD/JPY to 101.00 EZ PMi data stabilizes Nikkei -7.26% Europe -2.56% Oil $92.80/bbl Gold $1377/oz. Europe and Asia: AUD Consumer Inflation Expectations 2.3% vs. 2.2% JPY Japan Buying Foreign Bonds -804 vs. 185 JPY BOJ Monthly Economic Report for May EUR German PMI Manufacturing 49 vs. 48.5 EUR Ger...
May 22nd, 2013 - Daily FX Market Roundup 05-22-13 FX U-Turn, Why USDJPY Pullback Should be Temporary Will PMIs and Draghi Drive EUR Below 1.28? GBP – Crushed by Retail Sales and BoE Minutes AUD Hits Fresh 10 Month Lows NZD – Chinese PMI Numbers Could Extend Losses CAD – Flat Retail Sales Growth JPY – All Eyes on Weekly MoF Data FX U-Turn, Why USDJPY Pullback Shoul...
May 22nd, 2013 - There you go folks – Fed Chairman Ben Bernanke confirmed this morning that the central bank could reduce its pace of asset purchases “in the next few meetings.” It took a while for Bernanke to make his point and the dollar endured a rollercoaster ride as a result but the takeaway from his speech is clear which is that the Fed is serious about winding down QE an...
May 22nd, 2013 - Market Drivers for May 22, 2013 BOJ would decide on further JGB purchases sends USD/JPY towards 103.00 UK Retail Sales worst since April 2012 Cable below 1.5100 Nikkei 1.60% Europe 0.06% Oil $95.81 Gold $1381/oz. Europe and Asia: AUD Westpac Consumer Confidence -7.0% vs. =5.1% JPY Merchandise Trade Balance Yen -.76T vs. -.63T JPY BOJ Monetary Policy Statem...
May 21st, 2013 - Daily FX Market Roundup 05-21-13 USD – Cue in Bernanke GBP – Time for BoE Minutes and Retail Sales EUR - Consolidating Above 1.28 AUD – Main Takeaway from RBA Minutes CAD – Retail Sales Growth Expected to Slow NZD – Shrugs Off Stronger Credit Card Spending JPY – What Amari’s Conflicting Views Say About Yen Sentiment USD – Cue in Bernanke ...
