US Session: Orders and Options Watch
GBP: The dovish BOE MPC vote outcome, 2 members voted for more QE, hammered the British pound, stops below 1.5750-60 and 1.5700 were triggered and more stops below 1.5650 and 1.5640 are now in focus, however, fresh bids are likely to emerge further out at 1.5590-00 and 1.5550. On the
Mid-Day Report: Sterling Tumbles after BoE Minutes, Euro Directionless
Sterling was sold off sharply earlier today after BoE minutes unexpectedly revealed that two policy makers favored more expansion in the asset purchase program. GBP/USD is back pressing 1.57 level while EUR/GBP jumped through 0.84. Elsewhere, Euro is generally soft as Eurozone PMIs disappointed. Weakness in European equities also exerted
Daily Report: Yen Selloff Continues as Crude Oil Extends Rally
Market's focus is turning back to yen selling today as USD/JPY breaches 80 psychological level. BoJ's ultra easing monetary policy is factor that contributes recent weakness in the Japanese yen and is there to stay. Another yen selling reason emerged earlier this week after Japan posted record trade deficit in
European Session: Orders and Options Watch
EUR: The single currency remained confined within a relatively narrow range in part due to cross-trading against both yen and sterling, profit-taking activities after the 130 billion euro Greek bailout package put pressure on euro and bids at 1.3210-20 were filled, however, buying interests are still noted at 1.3190-00 with
US Session: Orders and Options Watch
EUR: Although the single currency resumed recent rise earlier today on buying by Russian names, euro ran into heavy offers there and has retreated throughout European session, bids at 1.3230-35 were cleared but more buying interests from European corporate are expected from 1.3200 down to 1.3180 with stops building up
Mid-Day Report: Euro Rally Lost Steam as Greek Bailout Boost Faded
The boost from Greece bailout deal to Euro was relatively brief as the common currency fails to take out recent high of 1.3321 against dollar and retreated. EUR/JPY also dips mildly after jumping to 105.98 earlier today. Major European indices are in red at the time of writing but down
European Session: Orders and Options Watch
EUR: The single currency found renewed buying interest just below 1.3200 level and has risen again from 1.3186 to 1.3293 on news that EU finance minister reached deal on Greek bailout plan worth 130 billion euro (stops above 1.3285-90 were triggered), however, offers are still noted at 1.3300 with mixture
Daily Report: Euro Firm after Greek Bailout Approval
Euro remains firms today as Greece finally secured the long awaited EUR 130b bailout from EU finance ministers. The deal, which provides short term relief for Greece and aim to cut debt to GDP ratio from current 160% to 121% in 2020, was confirmed in a press conference in Brussels
Daily Report: Dollar Mildly Lower as China Easing Lifts Sentiments
Dollar is broadly lower as the week started with strong risk appetite as lifted by China's easing measure. Though, the loss is so far limited with EUR/USD held below 1.3321 resistance, GBP/USD below 1.5928 resistance and USD/CHF above 0.9098 support. AUD/USD is also held below recent high of 1.0844 even
Weekly Review and Outlook: Yen Broadly Lower in Mixed Markets, Greek Bailout Approval ...
The Japanese yen was overwhelmingly weak in an otherwise rather mixed week. Greece continued to dominate headlines as the approval of the second bailout was once again delayed. The common currency was notably weak against other major currencies except versus yen. Meanwhile, risk markets ignored the situation in Greece and
Mid-Day Report: Sentiments Firm Greek Optimism, Yen Lower on Shirakawa
Market sentiments are generally firm on optimism that Greek's EUR 130b second bailout would be concluded next Monday. Italian prime ministers Monti's office said in a statement that Monti himself, German Merkel and Greek Papademos shared such optimism. Regarding the role of ECB, markets are speculating that the bank would
Daily Report: Yen Crosses Extend Rally on Risk Appetite
The Japanese yen continues to be the biggest loser this week, in particular to commodity currencies, on risk appetite as well as the aftermath of BoJ's surprised additional easing. Yen crosses are hitting multi-month highs and maintaining solid upside momentum. Asian equities are broadly higher following the 123 pts rally
Mid-Day Report: Sentiments Recovered as US Jobless Claims Dropped to 4 Years Low
Markets sentiments recovered in early US session as initial jobless claims unexpectedly dropped to 4 years low of 348k in the week ended February 11, lower than expectation of 364k. Continuing claims dropped another 100k in the week ended February 4 to 3.43m, lowest since August 2008. Housing starts improved
Daily Report: Sentiments Weigh Down by Greece, Moody's, Dollar Firmer
Markets sentiments are weighed down by the delay in Greek bailout approval and moody's warning on downgrade of some global banks. Asian equities are broadly lower following -97 pts fall in DOW. EUR/USD remains soft and is back pressing 1.3 psychological level. Commodity currencies are also generally lower following mild
Mid-Day Report: Euro Dips As Greece Bailout Approval to be Delayed Again
Euro dips again today on talk that approval of Greece's bailout would be postponed to February 20 at earliest and could even but postponed to April after election. Greek Finance Minister Venizelos is working on meeting the requirements before EU finance minister's conference call and is hope to wrap up
Daily Report: Euro Flip-Flops on Greece, Sentiments Boosted by China Elsewhere
Euro continues to flip flop against dollar with a soft tone on news from Greece. On the one hand, it's reported that the EU group meeting will be replaced by a conference call as final details regarding the Greek bailout plan are not yet ready. According to Jean-Claude Juncker, the
Mid-Day Report: Yen Weakness Continues, Euro Supported by Bond Auctions and German ZEW
Yen's sell remains the major theme today in otherwise rather dull markets. Euro was somewhat weighed down mildly by Moody's downgrade and Greece concerns. However, the common currency is also supported by sold bond auction in Italy and Spain, as well as solid German ZEW investor confidence readings. Dollar is
Daily Report: Yen Sold off as BoJ Expands QE, European Lower after Moody's Downgrade
The Japanese yen is sharply lower after BoJ unexpectedly expanded it's quantitative easing program today. BoJ left rates unchanged at 0-0.1% as widely expected. But, the bank unexpectedly expanded the quantitative easing problem from JPY 55T to JPY 65T. Under the program, the bank will buy government and private debt
Mid-Day Report: Euro Lacks Follow Through Buying as Markets Remain Cautious on Greece
The boost from Greek's passing of the parliamentary vote to Euro was rather weak so far as EUR/USD continues stay below 1.33 level in spite of today's recovery. EUR/JPY is also held below last week's high of 103.28. Greece is set to present the whole package to EU finance ministers
Daily Report: Sentiments Lifted Mildly by Greek Parliamentary Approval
Asian markets are lifted mildly as Greek parliament approved the austerity package, clearing an important hurdle to secure the EUR 130b second bailout from EU/IMF. Out of 300 lawmakers, a total of 199 voted in favor of the bill and 74 against. One important thing to note that 22 PASOK
