" EURUSD rallied in the wake of the ECB policy meeting yesterday which left expectations of some sort of policy action in tatters; no rate cut, not SMP suspension and no strong indication from…Continue
Added by Daologic on March 7, 2014 at 1:10pm — No Comments
"USD – can it recover?
ECB President Draghi was a little more forthcoming than usual in talking about the EUR at yesterday’s post policy meeting press conference. He highlighted the ECB’s rule of thumb…Continue
Added by Daologic on March 7, 2014 at 10:26am — No Comments
"EUR/USD – new influences
Since the end of last year investors have had to contend with a whole host of extraordinary events. The Fed has started to taper its monthly asset purchases, emerging markets have…Continue
Added by Daologic on March 6, 2014 at 10:30am — No Comments
"The euro is a dog. Instead of deriving support from the easing of tensions in Ukraine/Crimea and the best euro zone service PMI since June 2011, as well as a surge in January retail sales (1.6%, reversing the revised 1.3% decline in December), the euro has been sold to new lows for the week and nearing the low seen before last week's February inflation report…Continue
Added by Daologic on March 5, 2014 at 12:39pm — No Comments
"Big Week Ahead
(In thin pre-Asian activity, the dollar and yen are gaining against the other major currencies in the immediate reaction to weekend…Continue
Added by Daologic on March 3, 2014 at 6:47am — No Comments
"Developments in Russia and Ukraine are continuing to drive risk aversion today, with European equities down around –1.0% across the board, and the USD and JPY outperforming in G10 FX markets. On the other end of the spectrum, AUD has continued to struggle on the back of softer CapEx data overnight, while EURUSD has slipped down to the…Continue
Added by Daologic on February 27, 2014 at 11:31am — No Comments
"The US dollar has been confined to narrow ranges against the major currencies. The euro, yen, and sterling have traded well within yesterday's ranges. The dollar bloc was a bit heavier, but the Canadian dollar has fully recovery and the Aussie, nearly so, after disappointing (but dated) Q4 construction figures (-1.0% vs. +0.7% consensus). …Continue
Added by Daologic on February 26, 2014 at 12:11pm — No Comments
CAD downward pressure was one main theme again in the London morning. However, the combo of the Fed taper, solid US GDP data and position trimming related to EM distress kept the EUR and GBP fairly well offered too. This limited the extent of CAD weakness on the crosses,…Continue
Added by Daologic on January 31, 2014 at 11:52am — No Comments
"-IMM positioning data reflect investors warming to the USD a little more overall. The net long USD position rose to an aggregated total equal to USD 21.3bn in the week through January 14th, today’s CFTC data showed. That’s the biggest net long exposure to the USD since July last year.
Added by Daologic on January 20, 2014 at 7:38am — No Comments
"Focus: America's shale oil boom is only half way to reaching its peak.
The Federal Reserve's policies will remain the focus for currency markets in 2014. But the dollar is also set to be supported by America's surging shale oil boom. The US trade deficit fell to a four year low in November of $34.3bn as imports of crude oil and other petroleum products declined to $15.2bn, half their monthly level of two years ago. The US Energy…
Added by Daologic on January 13, 2014 at 6:30am — No Comments
BULLISH ABOVE 1.3685
BEARISH BELOW 1.3650…Continue
Added by Futuristic on January 12, 2014 at 6:45pm — No Comments
"Key Morning Themes
Added by Daologic on January 3, 2014 at 12:57pm — No Comments
Happy New Year! Markets will slowly get back to normal over the next few data (Japanese markets are closed until next week and many desks may not be fully staffed until Monday either) so trading is likely to remain on the quiet side through Friday. Note US 10-y yields nudged to a marginal new cycle high of 3.05% earlier. …Continue
Added by Daologic on January 2, 2014 at 12:48pm — No Comments
Added by Daologic on December 16, 2013 at 1:37pm — No Comments
FX Set-up: EUR Stays Bid For Now
EUR/USD and USD/JPY are both edging towards their respective, recent market peaks, propelling EUR/JPY through 141. The EUR bid tone reflects some ongoing…Continue
Added by Daologic on December 10, 2013 at 12:50pm — No Comments
"EUR/CAD’s pop higher above 1.42 seems to have stalled today. Intraday patterns of trade look soft, with the 6-hour charts suggesting a minor high is in for the session. That may see the market gravitate towards the mid/upper 1.41 area in the next few days—where the 40-day MA currently resides (1.4167). The pivot point for a lot of the chop seen in the market in the past few sessions at 1.4125 is not under immediate threat and, given the swings in the market over the past few days, we would…Continue
Added by Daologic on November 25, 2013 at 5:04pm — No Comments
"FX Set-up: USD Mixed, Focus on Commodity FX
EUR/USD has taken back more than 3/4 of the sell-off seen earlier in the week on the back of the negative depo rate…Continue
Added by Daologic on November 22, 2013 at 1:25pm — No Comments
"EUR/CAD continues to chop narrowly around the 1.41 area where the 28– and 40-day MAs are converging. The near-term direction for this cross remains somewhat uncertain. The weekly reversal from the mid 1.44s around the turn of the month suggests an important top is in place. The break below 1.4125 support also suggests that downside risks are mounting. But the sell off seems to have generated little follow through interest so far and the EUR has found good support on dips, with the base of…Continue
Added by Daologic on November 19, 2013 at 7:33am — No Comments
"EURUSD BEARISH As long as resistance holds on closing basis at 1.3501, there's scope for resumption of weakness to test the support at 1.3293 and then 1.3166. Only a close above 1.3501 would prolong the recovery to 1.3564.
USDJPY BULLISH The pair extends its strength approaching resistance at 100.61, a break above which would open 101.53. Support is at 99.11 ahead of 97.62.
GBPUSD NEUTRAL The next main resistance is at 1.6260. Support is at 1.5989.
USDCHF BULLISH While support…
§ The Commitments of Traders Report showed another week of surging demand for USD exposure as of Tuesday, November 12th. Overall activity among…Continue
Added by Daologic on November 18, 2013 at 7:36am — No Comments