FX Daily Outlook| 06-01-16
Posted on January 6, 2016 at 8:16 am GMT[..]
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FX Daily Outlook| 04-01-16
Posted on January 4, 2016 at 9:03 am GMT[..]
Asian Session – Yen gains on geopolitics; aussie drops on Chinese news
Posted on January 4, 2016 at 8:44 am GMT2016 started in a challenging way for financial markets, as Chinese stocks dropped by 7%, the Chinese currency’s mid-point was set at a fresh low by the People’s Bank and an index of manufacturing activity in the country showed contraction and was well below expectations during December. This of course had a negative effect on the Australian dollar, which fell by 1% against its US counterpart at 0.7216. China is the top destination for Australian exports. The US dollar itself [..]
European Session – Canadian dollar and Norwegian crown weaken on renewed drop in oil prices
Posted on December 30, 2015 at 3:22 pm GMTThe European session was uneventful due to light trading volumes ahead of the New Year holiday. Most major currency pairs were stuck in ranges but the main underlying theme to market movement was the renewed drop in crude oil prices and pressure on the commodity currencies, such as the Canadian dollar and the Norwegian crown. The euro was confined to range between 1.0906 and 1.0943 against the dollar, consolidating losses after yesterday’s sharp drop to 1.0898 from 1.0990. Sterling also [..]
Asian Session – Dollar drifts lower as oil prices head back down again
Posted on December 30, 2015 at 8:45 am GMTThe US dollar started the day mostly flat but off yesterday’s highs as trading volumes remained light in Wednesday’s Asian session. A rise in US treasury yields helped the dollar make gains yesterday. Two-year US treasury yields rose to the highest since April 2010 on Tuesday but were down from their peak today. The greenback started the session stronger against the yen, reaching a high of 120.57 yen but was down at 120.40 yen in late Asian trading. The euro [..]
European Session – Euro under pressure, sterling dips to 8-month low, oil back above $37
Posted on December 29, 2015 at 3:20 pm GMTThe currency market was subdued in thin trading during the European session, in the absence of major data releases. There was more movement in early US session trading, which saw the dollar index move off a two-week low to rise to a high of 98.19. The euro fell sharply against the dollar to 1.0908 as the New York trading session started, falling from a high of 1.0990. The euro/dollar pair had mostly been stuck in a range since Monday until [..]
Asian Session – Oil prices stabilize; major currencies stuck in tight ranges in light holiday trading
Posted on December 29, 2015 at 8:17 am GMTOil prices stabilized on Tuesday following yesterday’s 3.6% slump. US oil futures were up 0.7% at $36.92 a barrel in late Asian session. Oil’s rebound helped Asian equities move higher and China’s main indices were up almost 1% in late Asian trading after starting the session in negative territory. Chinese shares fell by around 2.5% yesterday after weak industrial profits data renewed concerns about China’s economy. However, equities were supported today after the country’s central bank pledged on Monday to [..]
European Session – Euro rises against major counterparts in quiet session
Posted on December 28, 2015 at 2:13 pm GMTThe European session was quiet as trading volumes were much lower than average in the absence of economic data. Also the London market, which is key for currency trading, was closed for local holidays today, which added to thin trading. Liquidity is expected to remain low in the run-up to the New Year. The euro was up against most of its major counterparts today. It gained about 0.3% against the yen to 132.02, after hitting as high as 132.45 during [..]
European Session – Oil benefits from upbeat sentiment as equity markets rally pre-holiday
Posted on December 24, 2015 at 11:35 am GMTCurrency markets have been subdued this week due to the holiday-shortened trading week but most of the focus was on the commodity markets and equities. An improvement in sentiment this week particularly helped oil process move higher. Brent crude oil, the international benchmark, and US West Texas Intermediate (WTI oil), both rose above $37 a barrel on Wednesday and consolidated these gains on Thursday. Meanwhile, China’s plans – announced on Monday – to unveil further stimulus to boost its sluggish [..]
Forex Markets 2015/16: Annual Review & Outlook
Posted on December 24, 2015 at 9:52 am GMTBy all accounts, 2015 was the year of the dollar as the greenback surged against its major counterparts. The dollar was up around 10% versus a basket of trade-weighted currencies, with some of its strongest gains registered versus commodity currencies such as the Canadian dollar and the Australian dollar, while it also gained around 10% versus the euro on policy divergence. Interestingly, the dollar’s gains were not evenly distributed throughout the year as the dollar index surged to a fresh [..]
