Tag Archive: $EUR

FX Daily, November 03: Political Angst Drives Markets

2016-11-03

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2016-11-03

FX Performance, November 03 2016 Movers and Shakers
GBP/CHF rates are trading below 1.20 on the exchange, providing those clients holding CHF with some of the best rates they’ve seen in the past six years. The Pounds woes have been well documented but with a key day of economic data releases ahead, is it all about to change?

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FX Daily, November 02: Standpat FOMC Trumped by US Political Jitters

2016-11-02

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2016-11-02

FX Performance, November 02 2016 Movers and Shakers
The single biggest driver in the capital markets is the continued narrowing of the US election polls. The prospect of a Trump presidency and the dramatic changes that could entail is rattling investors and spurring position squaring.The dollar is broadly lower as are stocks. The surge in global yields has been arrested.

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FX Daily, November 01: Dollar and Yen Slip in Quiet even if Eventful Turnover

2016-11-01

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2016-11-01

FX Performance, November 01 2016 Movers and Shakers
The US dollar is posting minor losses against most of the major currencies today.The Japanese yen is the exception, as the greenback continues to straddle JPY105. There have been several developments today, and the US also has a full economic calendar today. The most important of the developments was the upbeat message from the Reserve Bank of Australia.

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FX Daily, October 31: Respite for Market Nerves Lifts Peso, Rand, and US Dollar

2016-10-31

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2016-10-31

FX Performance, October 31 2016 Movers and Shakers
he latest US political news before roiled thin pre-weekend markets, but cooler heads and more of them are prevailing today. Trump's fortune in the polls had bottomed prior to the re-opening of the investigation into Clinton's emails and the national polls have narrowed.

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FX Daily, October 28: Dollar Sidelined, Krona Stabilizes, Rates Firm

2016-10-28

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2016-10-28

FX Performance, October 28
The main development here in the last full week of October is the sharp rise in bond yields. US 10-year yields rose nine bp this week coming into today's session, which features the first look at Q3 GDP. The two-year yield is up four bp. European 10-year benchmark yields mostly rose 11-17 bp. UK Gilts were are the upper end of that range. Two-year yields are 3-5 bp higher.

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FX Daily, October 27: Rising Yields Continue to be the Main Driver

2016-10-27

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2016-10-27

FX Performance, October 27 2016 Movers and Shakers
The euro remains pinned near the seven-month low it recorded two days ago near $1.0850. It approached $1.0950 yesterday and has been confined to about a 15-tick range on either side of $1.0905 today. Against the yen, the dollar remains near the three-month high (~JPY104.85) also seen two days ago. New dollar buying emerged yesterday near JPY104.

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FX Daily, October 26: Euro and Yen Extend Recovery

2016-10-26

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2016-10-26

FX Performance, October 26, Movers and Shakers
After touching 1.08, which apparently the "new floor", the SNB moved the EUR/CHF upwards yesterday and Monday. Today's EUR recovery against USD, let also the EUR/CHF rise. The US dollar's upside momentum reversed in North America yesterday and has been sold in Asia and Europe. This seems like mostly position adjustments ahead of next week's FOMC, BOE and RBA meetings, in an otherwise subdued news period. The euro has at three-day highs. It has...

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FX Daily, October 25: Germany IFO, Dollar Going Nowhere

2016-10-25

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2016-10-25

FX Performance, October 25 2016 Movers and Shakers
The US dollar has been confined to extremely narrow ranges against the euro, yen, and sterling. To the extent that there is much action in the foreign exchange market, it is with the dollar-bloc and emerging market currencies.The Canadian dollar was whipsawed by comments from the Bank of Canada.

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FX Daily, October 24: Dollar Begins Mostly Slightly Lower, and Risk is On to Start the Week

2016-10-24

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2016-10-24

FX Performance, October 24 2016 Movers and Shakers
Sterling vs the Swiss Franc has remained close to its lowest level in history caused by the aftermath of the Brexit vote back in June and more recently the announcement that Article 50 will be triggered by March 2017. Confidence in Sterling exchange rates has plummeted recently and until we get some form of assurances as to how the talks may go with the European Union we could see Sterling fall even further against the Swiss Franc than its current...

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FX Weekly Preview: Forces of Movement in the Week Ahead

2016-10-24

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2016-10-24

opticalillusion
Fitch cut Italy's rating outlook to negative from stable, while DBRS left Portugal's rating and outlook unchanged. Europe and Canada's free trade negotiations broke down, but many seem to be making exaggerating the significance of the drama. Japan and Australia report inflation figures, and both are exceptions to the generalization that price pressures are rising in (most) high income countries.

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FX Daily, October 21: Greenback Ending Week on Firm Note

2016-10-21

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2016-10-21

FX Performance, October 21 2016 Movers and Shakers
The US dollar is firm especially against the European complex and emerging market currencies. The yen continues to be resilient, and exporters are thought be capping the dollar above JPY104. The dollar is lower against the yen for the fourth consecutive session and set to snap a three-week advancing streak.

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Cool Video: Double Bloomberg Feature–ECB and US Baby Boomers

2016-10-21

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2016-10-21

Double Feature
This afternoon I had the privilege of being on Bloomberg TV, with anchors Scarlet Fu and Matt Miller. I was joined by an old market friend Bob Sinche. We had a lively discussion (what did you expect?) on two issues. The first was on the ECB. At his press conference earlier today, Draghi indicated that the question of extending QE and tapering was not discussed.

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Draghi Says Nothing to Undermine Expectations of New Action in December

2016-10-20

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2016-10-20

Euro storm
Extending or tapering QE was not discussed, but means little in terms of what the ECB decides in Sept. Draghi said growth risks are on the downside and inflation has yet to enter a meaningful uptrend. Reiterates that abrupt end of purchases is unlikely.

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ECB: Dovish Hold

2016-10-19

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2016-10-19

Draghi will like emphasis inflation is the key to policy and ECB is committed using allow for its technical tools to achieve its legal mandate. Key decisions will be made in December. The more the euro rises against sterling, the greater the pressure for the euro to fall against the dollar.

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FX Daily, October 18: Dollar Slips Broadly but not Deeply

2016-10-18

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2016-10-18

FX Performance, October 18 2016 Movers and Shakers
According to Bank of England deputy governor Ben Broadbent the drop in the value of Sterling has helped to stop the UK economy from falling further since the shock of the Brexit vote. He went on to say ‘in the shape of the referendum, we’ve had exactly one of those shocks’ and added that the Bank of England would not interfere with monetary policy to boost the Pound’s value.

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FX Daily Rates, October 17: Dollar Starts Week Narrowly Mixed, while Bonds and Stocks Retreat

2016-10-17

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2016-10-17

FX Performance, October 17 2016 Movers and Shakers
The US dollar is consolidating in relatively narrow trading ranges. Participants appear to be waiting for fresh incentives, while the recent rise yields continue and equities have begun the new week on a soft note. Yellen spoke before the weekend, and her explicit willingness to tolerate higher inflation pushed yields higher, while not deterring expectations for a hike in December.

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FX Weekly Preview: Four Key Events in the Week Ahead

2016-10-17

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2016-10-17

Escher Esque
Of the forces driving prices in the week ahead, events appear more important than economic reports.There are four such events that investors must navigate.The Bank of Canada and the European Central Bank meet. The UK High Court will deliver its ruling on the role of Parliament in Brexit.The rating agency DBRS updates its credit rating for Portugal.

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Weekly Speculative Positions: More Bearish Euros and CHF, Less Bullish the Yen

2016-10-16

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2016-10-16

Speculators turned more bearish the euro and Swiss Franc and less bullish the Japanese yen in the Commitment of Traders week ending October 11.  

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FX Daily, October 14: Firm Dollar Consolidating, Awaiting US Retail Sales

2016-10-14

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2016-10-14

FX Performance, October 14 2016 Movers and Shakers
The US dollar is firm against most of the major currencies, but within yesterday's ranges, which seems somewhat fitting amid the light new stream. The high-yielding Australian and New Zealand dollars are resisting the stronger greenback, while on the week the Aussie and the Canadian dollar are the only majors to gain.

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