Tag Archive: Japanese yen

FX Daily, June 14: Capital Markets Remain at UK Referendum’s Mercy

2016-06-14

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2016-06-14

"The Swiss Franc was the strongest performer, EUR/CHF has fallen to 1.08 by 0.8%". A spate of opinion polls showing a tilt toward Brexit, and the leading UK newspaper urging the Leave vote on the front page, keep the global capital markets on edge. Equities are lower, though of note ahead of the MSCI decision first thing Wednesday in Asia, Chinese shares eked out a small gain.

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FX Daily, June 13: Brexit Dominates

2016-06-13

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2016-06-13

  Swiss Franc Chandler is a bit puzzled about the Swiss Franc, that got stronger despite speculators being short CHF. We see weaker oil prices and weaker China as major reason, why sight deposits are falling and speculators are long the dollar. FX Rates The risk that the UK votes to leave the EU next … Continue reading »

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FX Daily, June 10: Yen and Swiss Franc maybe Drawing Support from Brexit Fears

2016-06-10

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2016-06-10

20160610 Movers and Shakers FX Market
Once again, CHF was one of the strongest performers on the FX market. Next Monday we will report how much the Swiss National Bank had to intervene in our regular "Weekly SNB sight deposits" report. For the week, it is the dollar-bloc and franc that have maintained weekly gains. The US dollar weakened in the first half of the week as participants continued to react to the shockingly poor jobs report and shift in Fed...

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Chart up-date: Stocks, Bonds, Copper, Gold

2016-06-10

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2016-06-10

Well that escalated quickly...All-time highs within reach... everything is awesome...wait what... Quite a week: Gold +5.25% in last 2 weeks - best run in 4 months Silver +5.65% this week - best week since May 2015 Copper -4% this week to lowest week...

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FX Daily, June 9: Greenback is Mostly Firmer, but Yen is Firmer Still

2016-06-10

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2016-06-10

The euro continues to weaken against the franc at 1.0922. But the speed of the descent has slowed. The dollar is stronger, in particular against EUR, CHF and AUD. The US dollar is posting modest upticks against most of the European currencies and the Canadian and Australian dollars.ย However, it has fallen against the yen and taken out the recent low, leaving little between it and the May 3 l...

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FX Daily, June 8: Currencies Broadly Stable, but Greenback is Vulnerable

2016-06-09

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2016-06-09

Once again the Swiss Franc appreciates both against EUR and USD. The euro topped at 1.1095 shortly before the US payroll data and has fallen to 1.0932. The dollar has fallen from 0.9947 to 0.9596. The foreign exchange market is quiet.ย ย The euro remains confined to the narrow range seen on Monday between $1.1325 and $1.1395. ย We continue to look for higher levels near-term as the drop from May 3 (~$1.1615) to May 30 (just be...

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FX Daily, June7: Another Breakdown of EUR/CHF

2016-06-07

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2016-06-07

Once again both EUR and USD broke down against the franc. The adverse effect of the Friday US jobs reports is visible again. Moreover, CHF appreciated with the Asian block, with AUD and NZD and with the oil price.

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FX Daily, June 6: Shallow Bounce in Dollar, though Sterling Pressured by Brexit Polls

2016-06-06

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2016-06-06

With the dismal jobs reports, ย speculators had to buy euro to cover their shorts (mostly against USD, but also against CHF). This led to a rising EUR/CHF on Friday. Today fundamental rules were valid again: In times of slow growth, the Swiss franc appreciates. Hence EUR/CHF was down by 49 bips.     After the …

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FX Weekly Preview: Macro Developments Will Not Stand in Way of Dollar Move Lower

2016-06-05

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2016-06-05

Through the first part of the year, the swinging pendulum of expectations for the trajectory of Fed policy has been a major driver in the foreign exchange market.ย ย This is true even though the ECB and BOJ continue to ease monetary policy aggressively. ย  The Australian and New Zealand dollars appear to influenced more by the … Continue...

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FX Weekly Review May 30 to June 3: Dollar’s Rally Ends with a Bang

2016-06-05

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2016-06-05

The dollar peaked on May 30, but it was not clear until the poor US jobs report sent the greenback reeling on June 3. The EUR/CHF surprisingly increased, despite weak US data. No wonder, speculators had to cover their short EUR positions.

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FX Daily, June 2: Greenback Mostly Softer Ahead of ECB and ADP

2016-06-02

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2016-06-02

The US dollar remains under pressure.ย ย It is off for the third day against the yen and slipped below JPY109 for the first time in a little more than two weeks. ย The Nikkei struggled to cope with the foreign exchange developments, lost 2.3%, the most in a month, after gapping lower. ย At JPY108.50, the dollar would … Continue reading...

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FX Daily, June 1: Swiss SVME PMI strongest PMI

2016-06-01

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2016-06-01

The Swiss SVME PMI was the strongest PMI in this data release. It is driven by machinery and electronics industry. They strongly compete with the Germans, and got shocked by the end of the peg. Surprisingly they have outperformed in recent months.

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FX Daily, May 31: Sterling Slips and Aussie Pops as Investors Await Fresh Insight into Fed Trajectory

2016-06-01

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2016-06-01

The US dollar is broadly mixed.ย ย The main narrative of increased prospects for a Fed hike in June or July has been pushed off center stage as the market reacts to local developments as investors await from US economic data. ย Ostensibly the data...

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FX Review May23 to May28: Dollar Set to Snap Three-Month Decline

2016-05-28

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2016-05-28

Many linked sterling's outperformance (+0.8%) to a growing sense that the UK will vote to remain in the EU, despite angst reflected in the elevated cost of insurance (one-month options).ย  The Canadian dollar (+0.7%)ย was helped by oil's flirtation wit...

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Great Graphic: Gold and the Dollar

2016-05-27

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2016-05-27

Many investors still think about gold as if it were money.ย  Economists identify three functions of money: store of value, means of exchange, and a unit of account.ย ย  It can be a store of value, but the price fluctuates compared with other form...

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Great Graphic: Dollar Pushes Back Below JPY110

2016-05-23

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2016-05-23

The yen is the strongest of the major currencies.ย  It has gained about 0.65% against the dollar.ย  It has been grinding lower throughout the Asian and European session and has remained in narrow ranges near its highs in the US morning. Japan still seems isolated in terms of it desire to intervene.ย  Ahead of the … Continue reading...

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FX Daily May 23

2016-05-23

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2016-05-23

The capital markets are off to a mixed start to start the last week of the month.ย ย Asian shares were mostly higher, though the Nikkei shed 0.5%. ย European shares are also higher, extending the three-week high seen last week.ย  The US dollar is...

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Daily FX, May 20: Divergence Reasserted, Extends Greenback’s Recovery

2016-05-21

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2016-05-21

The combination of stronger US economic data and signals from the Federal Reserve that it is looking to continue the normalization process helped the dollar extended its recovery.ย ย The dollar posted a significant technical reversal against many of the major currencies on May 3. ย The Dollar Index rose for its third week, as the greenback climbed …

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FX Daily, May 19: FOMC Minutes Extend Dollar Gains

2016-05-19

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2016-05-19

We felt strongly that the FOMC minutes would be more hawkish than the statement that followed the meeting, and we were not disappointed.ย ย However, our caveat remains: ย the minutes dilute the signal that emanates from the Fed’s leadership, Yellen, Fischer, and Dudley.ย  The latter two speak in the NY morning.ย ย Fischer and Dudley’s comment will be scrutinized …

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FX Daily, May 18: Greenback Recovers as Rate Support is Enhanced

2016-05-18

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2016-05-18

Apart from GBP, the US dollar is rising against all the major currencies today.ย ย The Australian dollar is retracing a sufficient part of its recent gains to suggest that the current phase of the US dollar’s recovery is not over. Given that the Aussie topped out a week before the other major currencies, it is reasonable …

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