Posts Tagged ‘forex’

Euro gives up gains as traders trim some Yen positions

Friday, December 28th, 2012

Mike Paterson’s Daily Forex Brief

I said yesterday that these are thin and scrappy markets with little substance, and so it’s proved with EURUSD giving up much of its post-Xmas gains and the USD overall finding some support whilst budget talks continue. (more…)

Euro buyers prevail and the Yen weakens further in major sell-off

Thursday, December 27th, 2012

Mike Paterson’s Daily Forex Brief

As new Japanese PM Abe is sworn in so his desire to weaken the Yen kicks in and we’ve seen a major sell-off across the board as investors continue to factor in further monetary easing. (more…)

The fiscal cliff looms larger than Santa

Monday, December 24th, 2012

Mike Paterson’s Daily Forex Brief

He knows if you’ve been bad or good but it’s not just Santa who’s on his way as any apparent budget agreement seems further and further away. (more…)

US budget talks suffer major blow and traders run scared

Friday, December 21st, 2012

Mike Paterson’s Daily Forex Brief

The so called “Plan B” from US House Speaker, John Boehner, has been rejected with an intended vote last night being cancelled through lack of support. (more…)

Reality check time again as traders trim positions

Thursday, December 20th, 2012

Mike Paterson’s Daily Forex Brief

We’ve seen a small reversal in prices since late NY as traders book a few profits on the back of renewed Greek uncertainties and the US budget talks making little headway. (more…)

USD selling continues but the jury is still out

Wednesday, December 19th, 2012

Mike Paterson’s Daily Forex Brief

We’ve seen some further US budget talks but also some further bickering, and the USD has come under fire again in what are thin pre-Xmas markets that offer little real fundamental explanation. (more…)

Markets pause for breath ahead of expected US budget deal

Tuesday, December 18th, 2012

Mike Paterson’s Daily Forex Brief

After the ups ‘n downs of the past few sessions we’ve seen a little pause for thought as traders await the now imminently expected US budget deal to avoid the so called ‘fiscal cliff’. (more…)

Risk-appetite returns and LDP comfortably wins Japanese elections

Monday, December 17th, 2012

Mike Paterson’s Daily Forex Brief

Friday saw a continuing appetite for risk in thin markets and we’ve seen the Euro make extended gains while the Yen remains undermined as the LDP win a convincing election victory. (more…)

Euro seeing good two-way action and Yen slumps again

Friday, December 14th, 2012

Mike Paterson’s Daily Forex Brief

Plenty going on out there right now what with EU summits, US budget talks and the Japanese elections this weekend, and traders are rightly cautious as markets get thinner as we approach year-end. (more…)

Fed adds more money and EU appears agreed on banking union supervision

Thursday, December 13th, 2012

Mike Paterson's Daily Forex Brief

Last night the Fed delivered more monetary easing as expected to the tune of a further $45 billion per month making it $85 billion in total, and it appears that the EU has agreed in principle on the supervision of Eurozone banks ahead of another EU summit today. (more…)

USD selling continues ahead of FOMC announcement

Wednesday, December 12th, 2012

Mike Paterson’s Daily Forex Brief

There’s been a few more USD sellers emerging as traders price in some further monetary easing later from the US Federal Reserve. The risk now undoubtedly is that Mr Bernanke sits on his hands and we’ll see some sharp reversals. (more…)

Consolidation time ahead of US interest rate/QE decision tomorrow

Tuesday, December 11th, 2012

Mike Paterson’s Daily Forex Brief

The last 24 hours have seen a quiet period of consolidation as traders look to reduce risk ahead of tomorrow’s FOMC meeting where there’s a growing feeling that that the Fed may add more QE. (more…)