Tag Archive: FX Daily

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 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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FX Daily, October 19: FX After China GDP

2016-10-19

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2016-10-19

FX Performance, October 19 2016 Movers and Shakers
The Swiss Franc has strengthened against the pound as global uncertainty persists in the form of the UK’s Brexit vote and the US Presidential Election. Looking ahead it seems the CHF may soften a little as we learn of the new President, I found it very interesting that yesterday Paddy Power paid out on any bets for Hilary Clinton to become President in the United States.

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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 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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FX Daily, October 07: Sterling Stabilizes After Harrowing Drop, Now Jobs

2016-10-07

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2016-10-07

FX Performance, September 7, 2016
Sterling again steals the limelight. In early Asia, sterling inexplicably dropped nearly eight cents in minutes (to ~$1840), and on some platforms, may have traded below $1.1380. It almost immediately rebounded but has not resurfaced above $1.2480.

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FX Daily, October 06: The Dollar is Firm in Quiet Market

2016-10-06

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2016-10-06

FX Performance, October 06 2016 Movers and Shakers
The US dollar is advancing against the major and most emerging market currencies. Activity is subdued and ranges are narrow. We share four observations about the price action. First, the euro has been unable to sustain upticks even after Germany reported a jump in industrial orders three-times more than the median estimate (1.0% vs. 0.3%).

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FX Daily, October 05: Euro Remains Firm Despite Dubious Tapering Story

2016-10-05

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2016-10-05

FX Performance, October 05 2016 Movers and Shakers
After the sudden rise to 1.0973 the EUR/CHF is falling again. The volatiliy is related to the CHF speculative postion, that suddenly was Short CHF. Traders that moved with the SNB Window Dressing for Q3 are closing their shorts again.

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FX Daily, October 04: Sterling’s Slide Continues, EUR/CHF Soars Again

2016-10-04

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2016-10-04

FX Performance, October 4, 2016
UK Prime Minister May's comments at the Tory Party Conference over the weekend played up the risk of what has been dubbed a hard Brexit and triggered a slide in sterling saw it fall to new 30-year+ low against the dollar just below $1.2760. The EUR/CHF has soared again. Later during the day, it has even achieved 1.0970.

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FX Daily, October 03: May’s Confirmation Sends Sterling Lower

2016-10-03

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2016-10-03

FX Performance, October 03 2016 Movers and Shakers
Sterling has a bad case of the Monday blues. Even the moon looks distraught. Prime Minister May has confirmed earlier suggestions that she will trigger Article 50 to formally begin its divorce proceedings from the EU at the end of Q1 17. Several officials have already hinted this time frame, though many have been skeptical that Article 50 would be triggered at all, given the complexities of the issues.

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FX Daily, September 30: SNB Intervenes to Polish Q3 Results

2016-09-30

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2016-09-30

FX Performance, September 30 2016 Movers and Shakers
True to its recent habit, the US dollar is finishing the week on a firm note. On the month, though, the greenback has fallen against most of the majors, but sterling, the Canadian dollar, and the Swedish krona. Global equities are trading heavily, and investors' angst is lending support to bond markets.

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FX Daily, September 29: Dollar Quietly Bid, while Market is Skeptical of OPEC Deal

2016-09-29

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2016-09-29

FX performance, September 29 Movers and Shakers
The US dollar has firmer against most major and emerging market currencies. It remains well within its well-worn ranges, which continue to be narrow. A notable exception today is the yen's weakness. While the majors are mostly off marginally and now more than 0.3%, the yen is 0.75% lower. That puts the greenback at a six-day high (~JPY101.75) at its best.

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FX Daily, September 28: Dollar Mostly Firmer, but Going Nowhere Quickly

2016-09-28

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2016-09-28

FX Performance 2016, September 28 Movers and Shakers
The US dollar is enjoying a firmer bias today, but it remains narrowly mixed on the week. It is within well-worn ranges. Of the several themes that investors are focused on, there have not significant fresh developments. In terms of monetary policy, both Draghi and Yellen speak today. The former is behind closed doors with a Germany parliamentary committee.

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FX Daily, September 27: US Debate Lifts Peso, but Leaves the Dollar Non-Plussed

2016-09-27

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2016-09-27

FX Performance September 27, 2016
Since the monetary assessment meeting, the EUR/CHF is trending downwards. Sight deposits indicate that the SNB is intervening 0.9 bn per week. We emphasized that the preferred intervention corridor is between 1.08 and 1.0850. The first US Presidential debate may not sway many voters but has lifted the Mexican peso. The peso, which has fallen by about 1.3% over the past two sessions, has stormed by 1.5% today as the seemingly biggest winner of the...

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