Finance News Network

Foreign Exchange

ECB, BOE, PBOC all cut to make for a volatile session

06 Jul 2012 - Rate cuts by the ECB, BOE and PBOC and improved, US ADP employment data, ahead of todays NFP numbers, combined to make for a volatile session that ended up sending th…

Thin holiday markets exist ahead of the ECB, BOE meetings. NFP tomorrow

05 July 2012 - Quiet conditions exist given the US holiday. Both the Euro and Cable are slightly lower ahead of today's ECB/BOE meeting. Aud, Kiwi and Yen are pretty much unchanged…

Market waiting for Central Banks to act. Quiet ahead of US holiday

04 July 2012 - Markets in quiet mode ahead of US holiday, but equities are a bit higher in the hope of Central Bank (ECB, BOE) action in coming days to stimulate the economies in E…

Euro slightly lower in mixed but mostly rangebound session..

03 July 2012 - Markets are rangebound to slightly softer following last weeks move after the EU summit. Holland/Finland have taken some steam out of the enthusiasm for buying the E…

Currencies, commodities, bonds rally on EU deal. US$ and Jpy suffer..

02 July 2012 - An overwhelmingly positive reaction to the EU summit has seen all markets rally strongly. Whether the enthusiasm can be maintained, before reality sets in that the c…

US$ a little higher, currencies lower ahead of EU meeting announcement

29 Jun 2012 - Choppy session as we await the outcome of the EU Leaders Summit. Euro looks heavy, but any positive announcement would see a sharp short squeeze. Things aren't lookin…

Currencies drift sideways, ahead of the EU Leaders Summit

28 Jun 2012 - Currencies have generally meandered ahead of the EU leaders summit commencing later on today. With little optimism of a positive outcome, it would appear that the Eur…

Euro held up well, despite more bad news. Yen strengthened.

26 Jun 2012 - A bad news day for the EU. Cyprus asked for the expected bailout. The Greek Finance Minister resigned before he had been sworn in. Spain has asked for an undisclosed …

EU Leaders summit will dominate trade in the coming week

25 Jun 2012 - It looks like being a relatively quiet start to Mondays session. The major focus this week, with regards to the Euro and risk associated assets, will be on Monday, wh…

US$ heads higher as investors flee risk associated assets

22 Jun 2012 - Generally poor data, suggesting further economic contraction pushed markets lower today, suggesting that we have seen a medium term top in risk associated markets. US…

Fed Acts on Twist but also downgrades growth outlook

21 Jun 2012 - The Fed duly extended operation Twist but at the same time downgraded Growth forecasts, dampening market enthusiasm in the process. Markets are largely where they wer…

Waiting for the Fed to do the Twist! Spain yields soar

20 Jun 2012 - Hopes of central bank intervention in monetary policy are increasing. The Fed are in a 2 day meeting, with the market hoping at least for extension of Operation Twist…

Markets turn lower following Greek election result, as reality sets in

19 Jun 2012 - The positive feelings from the Greek election result have run into a brick wall and markets have headed lower. At the G20, Merkel has reiterated that Greece must stan…

Pro bailout party win the Greek election. Major event risk ahead

18 Jun 2012 - The pro bailout New Democracy Party has won the election which should ensure a positive start to the week. Elsewhere it is a big week coming up with plenty of news ev…

Pre w/e short covering sends the Euro mildly higher

15 Jun 2012 - The Euro is mildly higher, despite Spanish 10 year yields reaching 7%. We now head into the weekend Greek election. Most players are sidelined.

Mild Euro short covering continues ahead of the Greek election

14 Jun 2012 - Some short covering of Euro positions ahead of the weekend Greek election and a weaker US$ following softer US data helped the Euro a bit higher today. Overall though…

Spain, Greece remain firmly in focus. Markets nervous but largely rangebound

13 Jun 2012 - Spanish bond yields continue to head higher, ignoring the weekend bailout, dragging Italian yields with them. Dealers are reluctant to have positions ahead of the Gre…

Markets head lower as Spain loan details sink in. Greek election in focus

12 Jun 2012 - Euphoria over Spain did not last long as reality sets in and Spanish bond yields climbed to above 6.5%. Greek election now in focus and suspect more choppy and volati…

A mixed session, ultimately leaving currencies largely unchanged

08 Jun 2012 - Bernanke testified that the Fed stand by to act, but has made no changes with regard to QE. China cut rates for the first time since 2009; Spain held a reasonable bo…

Markets rally on hope of Central bank stimulus. Awaiting Bernanke

07 Jun 2012 - A strong session all round as markets perceive that Central Banks are preparing for some economic stimulus. Everything looks to be on hold now, waiting for Bernanke's…

EU: Another bad news day capped the Euro, Aud$. ECB I/R decision ahead

06 Jun 2012 - Spain has said that it is being shut out of credit markets due to high borrowing costs. The G7 conference call came to nothing, keeping the pressure on the Euro. MOF/…

US$ a little softer, but currencies running into resistance. RBA today

05 Jun 2012 - The Euro regained a little ground on promises of further integration in the EU, centralising control of the banking system. Overall a session of consolidation and thi…

Poor data globally, saw US$ endure a volatile session. Busy week ahead

04 Jun 2012 - US Unemployment and the NFP, along with the PMI's, took the EU off the front page on Friday, with the Euro & risk currencies making a decent come-back from new multi …

China/EU PMI's and US NFP & Unemployment are today's focus

01 Jun 2012 - Another tricky day for the Euro, hitting a new 2 year low, before soft US data allowed a mild bounce from the lows. Ahead today focus will be on China/EU PMIs and th…

Spanish, Italian yields head higher, pushing the Euro, risk assets, down

31 May 2012 - Another tough day for markets, with the only winners being the US$ and the Yen. Spain and Italy were front and centre again and little looks like changing. A lot of d…

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