Posts Tagged ‘ currencies ’

Euro Declines off the Highs on Fears of QE

High beta FX gave up some of its gains against the dollar in Asian and early European trade today as risk aversion flows returned to the market. With no meaningful economic data on the calendar risk currencies followed equities to the downside as Nikkei slipped -0.6% while European bourses were lower by -1.0% in mid [ READ MORE ]

USD: Quiet Trading Ahead

At first glance, it may appear that it has been a quiet pre-holiday trading session that has left the U.S. dollar virtually unchanged against the euro, Japanese Yen and British pound. However appearances can be deceiving because the non-farm payrolls report triggered a significant degree of intraday volatility in all 3 major currencies. [ READ MORE ]

Forex Traders Turn on Dollar After Payrolls Report

The non-farm payrolls report has lived up to its reputation of being the most market moving indicator for the U.S. dollar. On the heels of the labor market release, the dollar soared against the Japanese Yen but just as quickly as it had accumulated those gains, it lost them. Risk currencies such as the euro [ READ MORE ]

FOREX: Late Day Selling

Compared to the last 24 hours, it has been a relatively quiet day in the financial markets up until the last hour of trading. The Dow Jones Industrial Average oscillated in and out of negative territory for most of the U.S. session before plunging close to 100 pips in last 60 minutes of trade, putting [ READ MORE ]

USD: More Cause For Concern

Currencies and equities fell steeply today on renewed concerns about the global recovery. Predictably, the U.S. dollar, Japanese Yen and Swiss Franc were big winners in today’s move as investors fled into the safety of low yielding currencies. Although a number of reasons contributed to sell-off, the main concerns still rest in Europe [ READ MORE ]

Bracing For G-20

Ahead of this weekend’s G-20 meeting, dollar weakness was seen across the board with substantial gains being posted in the pound and the commodity currencies. However, the yen’s outperformance throughout the week signals that traders are still a little cautious going into the G-20 proceedings. [ READ MORE ]

Euro Unable to Rally Despite Better Data

Risk FX stabilized in Asian and early European trade today in the wake of the reversal staged yesterday during the North American session. However despite a positive tone to newsflow, high beta currencies were unable to muster much of a rally as traders remained wary throughout the session. The yuan continued to strengthen, hitting [ READ MORE ]

Assessing The Fed

With the Fed’s statement out of the way, we can now assess the damage. The FOMC’s more dovish tone sent the dollar into a tailspin, declining against all major currencies except for the loonie. The Canadian dollar was the major outlier of the day, hurt by a very disappointing report on Retail Sales. [ READ MORE ]

Can Euro Rally to 1.2500?

Chinese monetary authorities announced over the weekend that they will follow a more flexible yuan exchange rate regime, spurring a massive rally in risk FX with commodity dollars receiving the lion’s share of buying flows on the first trading day of the week. The PBOC stated that,” In a continuation of the foreign exchange reforms [ READ MORE ]

Pound Recovers on Strong Labor Data

After a very quiet Asian session during which currencies treaded water in a very tight 20 point range, risk FX saw a selloff as Europe opened up for trade on renewed fears over Spain’s fiscal deterioration. Earlier in the day Spanish business newspaper El Economista reported that officials from EU, IMF and [ READ MORE ]

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