Weekly Review and Outlook: Risk Markets to Stablize Briefly after Steep Selloff, But Vulnerable ...
Risk aversion dominated markets last week and wold stock markets turned negative for the year as MSCI world index erased all it's gains this year. We're talking about S&P 500 having the losing losing streak since last August. Major European indices fell last week with notable fall in FTSE by
US Session: Orders and Options Watch
GBP: The British pound also rebounded from 1.5732 low in part due to improved risk appetite (on back of recovery in Dow future), weekend profit-taking also helped lifting cable from lows, however, offers from various parties (including U.S. big names) are lined up from 1.5850 up to 1.5890 with some
Mid-Day Report: Euro Recovers Mildly, Consolidating Above 2012 Low
Euro recovers mildly as it's trying to consolidate ahead of 2012 low aginast dollar but strength is very weak so far. The never-ending debt crisis is still weighing on sentiments. EU trade commission Karel De Gucht was quoted saying there ECB and EC are working on "emergency scenarios if Greece
European Session: Orders and Options Watch
JPY: The pair tumbled yesterday on broad-based strength in Japanese yen due to risk aversion and stops at 79.60 and 79.40 were tripped and option barrier at 79.25 was also triggered. At the moment, some defensive bids are still noted above next barrier at 79.00 and buying interests from Japanese
Daily Report: Risk Aversion Continues as Moody's Downgraded Spanish Banks, Fitch Downgraded ...
Market sentiments were further hurt by worries on Spain, Greece and European banking sector as a whole. Moody's downgrade of 16 Spanish banks and the surging yield in bond auctions sent Spanish CDS to record high of 552 bps while benchmark 10 year yield continues to march towards 7% unsustainable
US Session: Orders and Options Watch
EUR: Although the single currency resumed recent decline to a low of 1.2667, option defensive bids (for protection of 1.2650 barrier) contained euro’s downside and the pair has rebounded from there, however, offers from Asian CBs are still noted at 1.2740-50 with some stops placed above 1.2760 but more selling
Mid-Day Report: Euro Selloff Resumed on Spain, Sterling Hit Harder
Euro's selloff resumed today after brief consolidation on negative news out of Spain. While markets are clearly still concerned with Greece situation, result of next election and whether Greece will exit euro eventually, investors are equally concerned, if not more, on the situation in Spain. The sharp jump in yield
European Session: Orders and Options Watch
EUR: Despite tripping option barrier at 1.2700 yesterday, bids to protect stops below 1.2675 lifted euro from low and price has rebounded again in New York and buying interests from Middle East names are still noted at 1.2700-10 and also at 1.2680-85 with stops remain below 1.2675 and 1.2650 (another
Daily Report: Euro Consolidates Loss But Remains Vulnerable
Euro stays in tight range in Asia today as markets continues to digest recent loss. But the recovery against dollar and yen is very weak and the corrective price actions suggests that the common currency is still vulnerable to deeper selloff. Greece situation and development will continue to weigh on
US Session: Orders and Options Watch
EUR: Despite falling to 1.2682 earlier today in European session, the pair has rebounded in part due to risk appetite on recovery in Dow Future and bids from Asian names (some are for profit-taking purposes) are still noted from 1.2690 down to 1.2670 and further out at 1.2630-40. On the
Mid-Day Report: Risks Recover Mildly after Selloff, Sterling Pressured after BoE Inflation Report
Greece triggered selloff in risk markets seems to have exhausted today as markets recovered in early US session on US housing data. The near term situation is somewhat cleared that Council of State president Panagiotis Pikramenos will lead the caretaker government till election, which is now set to be on
Daily Report: Dollar Surges as Risk Aversion Dominates on Greece
Risk aversion dominates global markets today as worsening Greece situation weigh on sentiments. After failing to form a coalition government following nine days of negotiations, political leaders will meet with Greek president Papoulias today again to organize another election in June, possibly on June 10 or 17, and put together
European Session: Orders and Options Watch
EUR: The single currency has continued to head south on renewed concerns over eurozone debt crisis and option barrier at 1.2700 was just breached, there were waves of foreign investors selling Italian and Spanish bond and the situation seemed worsened recently. After triggering series of barriers all the way from
US Session: Orders and Options Watch
EUR: The single currency dropped again in European session on fresh speculation of Greek euro exit, option barrier at 1.2800 was tripped and although some bids are reported above next barrier at 1.2750, stops below there are now in focus with next sizeable barrier located further out at 1.2700 (related
Mid-Day Report: Euro Recovery Short-Lived, Selloff Resumed as Greece Declare New Election
Euro's recovery was rather short-lived and the common currency is under tremendous selling pressing in early US session on news that Greece will hold a new election after multiple efforts to form a government. President Papoulias's spokesman said that declared new vote after failing to persuade political leaders to form
European Session: Orders and Options Watch
EUR: Although the single currency extended recent decline to 1.2814 this morning in Asia, euro has recovered after finding buying interests above indicated option barrier at 1.2800, some profit-taking activities were spotted after comments from euro-group officials and option defensive bids are still noted at 1.2810-20. On the upside, offers
Daily Report: Euro Recovers on Solid German GDP, But Vulnerable to Greece Development
Euro recovers mildly against dollar and yen today as risk market recover from recent selloff. Some support is obtained by German GDP data which showed 0.5% qoq growth in Q1 against expectation of 0.1% qoq. French GDP grew 0.0% qoq, meeting consensus. Some consolidations would possibly be seen in the
US Session: Orders and Options Watch
EUR: The single currency continued to head south in European session and New York morning and another barrier at 1.2850 was tripped, more barriers are located at 1.2825 and 1.2800 with some bids from Asian sovereign names reported above these levels with some buying interests likely to emerge around 1.2770-75.
Mid-Day Report: Euro Drops Further on Greece, Surging Spanish Yield
Euro extends it's broad based decline today as Greece political uncertainties continue to weigh. In additional, Benchmark Spanish 10 year yield jumped above 6.3% today as Moody's noted that the country's bank plan will increase the government's debt burden. Bill auctions in Spain saw weaker demand and higher yield and
European Session: Orders and Options Watch
EUR: The single currency dropped below 1.2900 this morning on continued worries over eurozone debt crisis and option barrier there was tripped, however, more option defensive bids are reported at 1.2860-70 with more stops placed below next barrier at 1.2850. On the upside, offers from various parties are lined up
