Posts Tagged ‘FX’

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…)

Chinese trade data boosts Aussie $ as markets await European rate decisions

Thursday, January 10th, 2013

Mike Paterson’s Daily Forex Brief

Main news out came in Asia with the surprisingly good trade data from China who announced a whopping +$31.60 billion versus $20 billion expected, with exports up 14% versus 5% forecast. Imports also rose to 6% v 3.5%. (more…)

Traders pause again ahead of tomorrow’s BOE and ECB decisions

Wednesday, January 9th, 2013

Mike Paterson’s Daily Forex Brief

We’ve seen another day of consolidation as traders reflect on the possible outcomes of tomorrow’s interest rate and QE decisions from the BOE and ECB plus factoring in talk of a further French debt downgrade. (more…)

Euro rallies as talk of ECB rate cut recedes

Tuesday, January 8th, 2013

Mike Paterson’s Daily Forex Brief

We’ve seen a rally in EURUSD and EURGBP as traders appear to rule out any chance of an interest rate cut this Thursday by the ECB. (more…)

Consolidation time again as US jobs report fails to live up to expectations

Monday, January 7th, 2013

Mike Paterson’s Daily Forex Brief

Just prior to Friday’s US Non Farm Payrolls data EURUSD had dipped below 1.3000 and was looking to test the big 1.2980 level but an NFP number of +155k failed to live up to expectations and we saw a sharp reversal. (more…)

USD surges after FOMC Minutes suggest an earlier end to QE

Friday, January 4th, 2013

Mike Paterson’s Daily Forex Brief

The US dollar was already showing signs of benefitting from the turnaround in risk sentiment that I reported yesterday but last night in NY the release of the last FOMC Minutes really set the cat amongst the complacent pigeons. (more…)

All change as traders are quick to book profits

Thursday, January 3rd, 2013

Mike Paterson’s Daily Forex Brief

After the initial knee-jerk reaction following the temporary fiscal cliff avoidance we’ve seen a sharp reversal as traders were quick to book profits on short-USD positions given the lack of follow-through and the uncertainties out there that I’ve been highlighting. (more…)

Markets welcome US fiscal cliff deal but fears remain

Wednesday, January 2nd, 2013

Mike Paterson’s Daily Forex Brief

Last night in Washington the House of Representatives passed a Senate-backed bill to avert the “fiscal cliff” by 257 votes to 167 and the markets breathed a big sigh of relief. (more…)