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- Well…….
- Euro zone February sentix index much weaker than expected
- Greek 5-year CDS falls to 397.8 bps from 407.6 at NYK close Friday
- Cable rallies back strongly; ACB sell interest noted
- EUR/USD extends rally
- USD/JPY touch firmer
- Sovereign buying seen in EUR/USD
- EUR/GBP extends rally
- Bk of France business sentiment index 104 in January
- Swiss January unemployment better than expected
- Cable starts week on backfoot
- EUR/USD opens little lower
- Asian FX market wrap: consolidation but market remains nervous
- More bearishness from AEP at the Telegraph
- Which stories are likely to influence the early European market?
- Around the markets: equities moderately lower, commodities recovering
- EUR/USD makes new session lows but momentum still lacking
- NZ home prices continue to rise
- More on the shemozzle that was SNB action last Friday
- Important levels for the Gold market
| Posted: We never did get to see whether ACB sell interest in cable up at 1.5630/40 would cap the rally as it topped out at 1.5625. Some stinky rotters popped in and front ran the interest. Talk has it a UK clearer was prominent among the stinky rotters. We're presently back down at ... |
| Euro zone February sentix index much weaker than expected Posted: Has come in at -8.2, down from -3.7 in January, lowest read since last October. It's a longways from the median forecast, which had called for an improved -2.3 read. |
| Greek 5-year CDS falls to 397.8 bps from 407.6 at NYK close Friday Posted: Spanish 5-year CDS falls to 161.1 bps from 166.5 Portuguese 5-year CDS however rises to 233.4 bps from 227, recent parliamentary defeat of government's austerity plan taking it's toll. Elsewhere, EUR/USD sits at 1.3705 having been as high as 1.3713. Well, stops through 10 must have been rather on the small size I guess. |
| Cable rallies back strongly; ACB sell interest noted Posted: Cable has rallied back strongly, presently at 1.5620 having earlier posted session low 1.5536. Talk now has Asian sovereign sell interest lining up at 1.5630/40. Will be interesting to see whether this interest can stymie the recent recovery. |
| Posted: EUR/USD extends rally, presently at 1.3700 having been as high as 1.3705. Talk has the stops through 1.3710. A major German name is said to have helped EUR/USD take out aforementioned sell orders in 80/00 area. |
| Posted: USD/JPY is a touch firmer on the day, with the yen seeing some general slippage against the backdrop of slightly improved risk sentiment. USD/JPY is up at 89.50 from an early 89.35, while EUR/JPY is up at 122.55 from around 121.90. European stocks are up on the day, oil up 3/4's of ... |
| Sovereign buying seen in EUR/USD Posted: EUR/USD up at 1.3670. Russia has been notable buyer this morning. Sell orders now tipped at 1.3680/00. Stops probably parked not far north of there, but no confirmation of specific level/s as yet. |
| Posted: EUR/GBP is extending it's early rally, presently at .8785. From here, next resistance comes at .8795/00. As mentioned earlier, comments from ex-IMF economist Simon Johnson, increasing spectre of hung parliament, and downbeat BCC survey are not helping sterling's cause. Elsewhere cable is all over the shop. Earlier tripped stops through 1.5550 before ... |
| Bk of France business sentiment index 104 in January Posted: Bk of France industry business sentiment index 104 in January vs revised 102 in December Services business sentiment index 89 from 88 Survey sees Q1 GDP at 0.5% Bk of France says industrial activity has rebounded across the board, order books improved. EUR/USD is ticking higher in early European trade, presently at 1.3665. |
| Swiss January unemployment better than expected Posted: Swiss January unemployment has come in at 4.5% , better than median forecast of 4.6%. Seasonally adjusted rate 4.1% compared to median forecast of 4.3%. EUR/CHF steady around 1.4665. Everyone now busy trying to second guess the Swiss National Bank. Same as it ever was. |
| Posted: Cable starts the week on the backfoot, presently down at 1.5590 from a North American close Friday up around 1.5655. Weekend developments haven't been very helpful to sterling. Ex-IMF chief economist Simon Johnson has told the BBC that the UK should be seen in the same category of countries as Greece ... |
| Posted: EUR/USD is opening a little lower this morning from where North America closed out last week, presently at 1.3640. Worries surrounding likes of Greece, Portugal and Spain continue to weigh. Later this week, on Thursday, there is a meeting of EU leaders in Brussels and it will be interesting to see whether they ... |
| Asian FX market wrap: consolidation but market remains nervous Posted: G7 fails to end Greece concern Prius recall and Toyota apology helps share price to steady Australian government withdrawing bank guarantee scheme NZ home prices continue to rise Regional sharemarkets fall by 0.5% on average Commodity prices rally by around 2% after big falls last week The first move of the week was up for the ... |
| More bearishness from AEP at the Telegraph Posted: Thanks Scott for the link to the latest AEP article in the UK Telegraph. No surprises here, you know what you're getting from AEP. |
| Which stories are likely to influence the early European market? Posted: Stories like this one that Gerry posted earlier will probably weigh on the GBP in early European trade G7: Trichet sounded optimistic on Greece meeting new targets- could be EUR positive but market is still sceptical Modest rally in the Toyota share price after apology and Prius recall news. Counter-intuitively, this might ... |
| Around the markets: equities moderately lower, commodities recovering Posted: The Nikkei is -0.5%, the Kospi is -0.4% but both HK and Shanghai exchanges are relatively flat. Gold has rallied 1.25%, copper is 2% higher after big falls last week and oil is also a little higher, 0.25%. |
| EUR/USD makes new session lows but momentum still lacking Posted: EUR/USD is being driven by cross flows with EUR/JPY selling the main driver. EUR/USD traded to a new session low at 1.3621 but momentum and interest is very low. At the risk of repeating myself, support is at the 1.3585 low from Friday and resistance is now at this mornings ... |
| NZ home prices continue to rise Posted: New Zealand continues to experience lots of mixed economic data. Last weeks employment data was very poor but much of that was put down to increased migration. House prices are still on the rise so obviously some people are still spending. |
| More on the shemozzle that was SNB action last Friday Posted: Great word, shemozzle, truely onomatopoeic. It well describes what went on in EUR/CHF last Friday during Asia. It was 4am in Zurich, EUR/CHF was trading around 1.4625 and somebody obviously didn't have their first cup of coffee. It was so long since the SNB appeared during the Asian session that many ... |
| Important levels for the Gold market Posted: The gold price has popped a bit this morning, currently back at $1065/oz after trading below $1050 on Friday afternoon in NY. Traders are watching the market closely to see if there are any signs of India or China buying at these levels. |
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