FX Daily Outlook| 11-03-2016
Posted on March 11, 2016 at 9:42 am GMT[..]
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Asian session – euro searching for equilibrium post-ECB, yen down as oil helps risk-on
Posted on March 11, 2016 at 8:49 am GMTThe euro was still searching for new equilibrium levels following the ECB action the previous day, as it backed off the 1.12 level it crossed during the previous day’s US session to trade around 1.1130. The low registered after the announcement of the ECB stimulus measures was 1.0820. Although the measures announced by Draghi were much more than what the market anticipated –especially the increase in the monthly QE purchases and the expansion of the program to cover non-bank corporate [..]
Asian Session – Dollar and oil stage a late rebound; aussie soars above 0.73
Posted on March 3, 2016 at 9:44 am GMTMarket sentiment remained broadly positive on Thursday as the US dollar bounced off yesterday’s lows and oil reversed a sharp slide to end the day higher. The dominating data in today’s Asian session were the services PMI for China and Japan. Services activity slowed in both China and Japan in February according to the latest PMI readings. Market reaction was muted though as traders were more focused on signs of a rebound in commodity prices. Oil prices posted a late [..]
European Session – Euro falls to fresh 1-month low, oil crashes below $34 on rising inventories
Posted on March 2, 2016 at 3:51 pm GMTThe euro weakened further against the dollar today to touch a fresh one-month low of 1.0828. Eurozone PPI data (producer price index) released today highlighted the effects of falling oil prices on inflation. The monthly PPI reading fell in January to come in at -1%. Comments from Bank of France Governor Francois Villeroy de Galhau today, who is on the ECB’s Governing Council, said that it has tools that it is ready to use. He was testifying at the French [..]
Pound stabilizes after sell-off, stocks rise on policy hopes, oil
Posted on February 26, 2016 at 2:37 pm GMTCable finds some support after Johnson-shock After some vicious selling at the beginning of the week, the pound found some support just below 1.40 versus the US dollar. True the pair dipped to as low as 1.3878 – a new 7-year low- in the aftermath of London Mayor Boris Johnson’s announcement that he was backing the ‘Leave’ campaign. The pound subsequently emerged back above 1.40 by Friday after spending Wednesday and Thursday below that key psychological level. The issue of [..]
Asian Session – Oil rebound helps dollar back above 112 yen
Posted on February 25, 2016 at 9:11 am GMTThe US dollar rebounded from yesterday’s lows following some weak economic data. A late rally in oil prices helped the greenback and US stocks to move higher. US crude futures jumped 5% after the latest US inventory data showed gasoline and distillate stocks declined more than expected even though crude oil inventories increased. However, on Thursday, prices moved back down again on lingering oversupply concerns. WTI futures were last trading 1.2% lower at $31.77 a barrel. The dollar fell below [..]
European Session – Sterling hits fresh 7-year lows, gold rises on risk aversion
Posted on February 24, 2016 at 3:57 pm GMTRisk aversion dominated today’s European session, helping gold prices advance by over $30 to rise above $1250. The yen outperformed due to safe haven flows as equity markets tumbled in response to a further decline in oil prices today. Oil prices extended Tuesday’s more-than 4% decline and this impacted market sentiment. Crude prices dropped below $31 a barrel today after falling on comments by Saudi Arabia’s oil minister Al Naimi yesterday. He ruled out any reduction in output any time [..]
FX Daily Outlook| 24-02-16
Posted on February 24, 2016 at 9:49 am GMT[..]
Asian Session – Yen eases as oil stabilizes; Pound falls below 1.40 dollars
Posted on February 24, 2016 at 9:28 am GMTThe Japanese yen pulled back from intra-day highs in late Asian trading on Wednesday after oil prices attempted to move higher again. Oil futures fell sharply on Tuesday after Saudi Arabia ruled out output cuts anytime soon. US crude futures fell back below $32 a barrel and were last trading at $31.34 a barrel, slightly up on yesterday’s close. The US dollar rebounded from an intra-day low of 111.63 yen to jump to 112.21 yen in late Asian session. The [..]
European Session – Oil drops on Iran minister comments, pound below $1.41
Posted on February 23, 2016 at 3:36 pm GMTThe safe haven yen was the top performing major currency in today’s European Session due to a souring in risk appetite. The 112 yen level was being tested by the dollar at more than one-week lows. The pound remained under pressure from ongoing Brexit concerns, taking down the euro with it since the risk of the UK leaving the EU is not just a threat to the British currency but also to the single currency. Both political as well as [..]
