Posts Tagged ‘forex’

More of the same as a new week beckons

Monday, January 28th, 2013

Mike Paterson’s Daily Forex Brief

We’ve seen further weakening of the Pound after the dismal first reading of the Q4 GDP data on Friday and, as per printed programme, traders have duly sold GBP across the board once again. (more…)

Pound weaker again ahead of UK Q4 GDP

Friday, January 25th, 2013

Mike Paterson’s Daily Forex Brief

After the consolidation came another attack on the Pound ahead of today’s first reading of the key Q4 GDP but with expectations ranging from –0.5 to +0.2 the market awaits with bated breath. (more…)

Consolidation time again as Chinese data impresses once more

Thursday, January 24th, 2013

Mike Paterson’s Daily Forex Brief

We’ve seen little in the way of any major moves in the past 24 hours as traders consolidate recent trading activity waiting for more clues but decent Chinese Manufacturing PMI data has given some reason for cheer. (more…)

Markets unmoved by Cameron’s in/out EU referendum promise

Wednesday, January 23rd, 2013

Paterson’s Daily Forex Brief

Little to report from the last 24 hours after the Euro wobble that I reported turned out to be a damp squib based on false rumours that Bundesbank chief Weidemann was going to step down. (more…)

Pound lower again as concerns grow

Tuesday, January 22nd, 2013

Mike Paterson’s Daily Forex Brief

No sooner said than done they say, and after my further warning on the Pound yesterday we’ve seen further losses as concerns grow over the UK economy and PM Cameron’s delayed speech on Europe tomorrow. (more…)

Pound looking wobbly again as we enter a key week

Monday, January 21st, 2013

Mike Paterson’s Daily Forex Brief

As I’ve been saying for a while the Pound has been a mixed box of frogs, but I’ve also warned once again that the sentiment has turned somewhat bearish with GBPUSD looking vulnerable all of last week. (more…)

More of the same as Yen and Swiss hit key levels

Friday, January 18th, 2013

Mike Paterson’s Daily Forex Brief

We’ve seen further weakening in both the Yen and Swiss which is still keeping the Euro well supported in lively trading.

USDJPY has breached 90.00 for the first time since June 2010 while USDCHF has been up to 0.9390 and EURCHF has broken up through 1.2500, a level not seen since it collapsed in May last year. (more…)

Swiss Franc and Yen weaken again dragging Euro higher

Thursday, January 17th, 2013

Mike Paterson’s Daily Forex Brief

What doesn’t go down must, invariably, go back up and thus it’s proved yesterday and overnight after various comments and corrections.

ECB member Nowotny came out with a bullish Euro stance contrary to that of the Eurogroup’s Juncker (more…)

Risk appetite wanes after Juncker says Euro “dangerously high”

Wednesday, January 16th, 2013

Mike Paterson’s Daily Forex Brief

After the Eurogroup head Juncker yesterday said that the value of the Euro was “dangerously high” it seems like the market is returning to a more cautious mode and we’ve gone from good two-way business to seeing traders lose their appetite for risk, for the moment at least. (more…)

Plenty going on in good two-way business

Tuesday, January 15th, 2013

Mike Paterson’s Daily Forex Brief

We’ve seen a busy 24 hours with plenty going on out there as traders test key levels again but without the follow through as yet.

Adding to the generally buoyant mood over the past 48 hours has been decent data from China (more…)

Euro higher again after disappointing US trade data and renewed EU confidence

Monday, January 14th, 2013

Mike Paterson’s Daily Forex Brief

The Euro has continued its bullish run started toward the end of last week after Friday’s US Trade Balance data came in under expectations with the deficit widening to $48.7 billion and the highest level since April last year. (more…)

Euro surges after rate cuts dismissed, and Yen weakens further

Friday, January 11th, 2013

Mike Paterson’s Daily Forex Brief

The BOE and ECB yesterday left interest rates and QE unchanged as expected, but the ECB press conference delivered the bombs I always warn about, this time bringing the news that the decision was unanimous and effectively dismissing rate cuts any time soon, if ever. (more…)