Daily Market Recaps Articles

June 26th, 2012 - Spain was forced to pay nearly 200bp more than last month to finance its short term debt at its latest auction today. Spanish 6-month T-Bill maximum Yield rose to 3.369% vs 1.793% on May 22 while Spanish 3-month T-Bill maximum yield increased to 2.500% vs 0.879%. The bid to cover ratios were lower as well with three month diving to 2.6 from 3.95 the month prior while...

June 25th, 2012 - Daily FX Market Roundup / Asia Preview 06-25-12 FX: Dangerous Mix of Policy and Data Alignment USD: Stronger New Home Sales Fail to Lend Support to Risk GBP: Lack of Data Equals Quiet Trading AUD: Potential Problems in China’s Demand for Coal CAD: Oil Prices Decline, Gold Prices Increase NZD: Hit by Risk Aversion JPY: Debate Over Consumption Tax FX...

June 25th, 2012 - The U.S. dollar is starting the week higher against all of the major currencies, which tell us that investors are nervous about the EU Summit and the ability of EU leaders to send a convincing message to the market that a fiscal union is in the works. This skepticism is not misplaced considering that German Chancellor Merkel continues to oppose sharing sovereign cred...

June 25th, 2012 - Market Movers June 25, 2012 Markets jittery at start of week as EU summit looms USD/JPY gives up its gains dropping below 80.00 as US Treasury yields slide Nikkei off -0.72% Europe -1.96% Oil below $79/bbl Gold $1568/oz. Asia and Europe No Data North America USD Chicago Fed Nat Activity Index 8:30 USD New Home Sales 10:00 A very quiet opening t...

June 25th, 2012 - Key Takeaway Risk FX at critical juncture with dollar poised to make further gains if major support gives way as the week progresses. EURUSD (click for larger view) USDJPY (click for larger view) AUDUSD (click for larger view) ...

June 22nd, 2012 - Daily FX Market Roundup / Asia Preview 06-22-12 EUR: Unimpressed by Growth Package & ECB Collateral Changes USD: Next Week’s Data Should Reinforce Need for QE3 GBP: Stronger Data Does Not Remove Risk of QE CAD: Decline in CPI Makes it Hard to Justify BoC Rate Hike Plans NZD: Stronger Spending Data Spurs Gains AUD: Worst Performing Comm Dollar Currency ...

June 22nd, 2012 - The lack of U.S. economic data has meant a quieter morning in the foreign exchange market. Most of the major currencies, the euro included are trading unchanged or lower against the U.S. dollar. As Eurozone finance ministers continue to meet and the leaders of Germany, France, Italy and Spain get ready for their four-way summit in Rome, currencies will most likely tr...

June 22nd, 2012 - Market Drivers Risk remains under pressure after Moody downgrade IFO weaker than forecast but EUR/USD sees little reaction Nikkei down -0.29% Europe -0.79% Oil at $78/bbl Gold at $1568/oz. Asia/Europe Eco Data: JPY Supermarket Sales -1.7% vs. -1.9% NZD Credit Card Spending 3.9% vs. 3.7% EUR German IFO Business Climate 105.3 vs. 105.6 EUR German IFO Curre...

June 22nd, 2012 - German IFO survey of business confidence printed lower than forecast at 105.3 versus 105.6 eyed dropping to its lowest level in two years as credit crisis conditions in Europe weighed on corporate sentiment. The latest economic data from the region suggests a material slowdown in economic activity and today’s IFO results reflected the pessimism that has settled...

June 21st, 2012 - Daily FX Market Roundup / Asia Preview 06-21-12 By Kathy Lien, Managing Director of FX Strategy for BK Asset Management USD: Rising on Weak Data EUR: German Growth Concerns Overshadow Potential Progress on Economic Union GBP: Stronger Data Does Not Remove Risk of QE CAD: Major Disappointment in Retail Sales AUD: Hit by Weaker Chinese Manufacturing Data NZD:...

Hide me
Receive Thought Provoking Forex Commentary Directly to Your Inbox
Show me