In our world of FX Mondays are more often than not quiet days on the market with little in the way of major news events impacting on the price of our favored currency pairs. However, despite the lack of scheduled high impact data releases, the day was anything but quiet. As predicted in our post […]
Between The Lines, Central Banks Are Not Singing From The Same Hymn Sheets Read More »
Today, the market calendar remains unexciting. All the market excitement was in the Asian markets early this morning, with Chinese GDP and Industrial Production all in line with forecast except for a high print on retails sales. The surprise was a drop in Japanese industrial production reporting well under forecast. The rest of the day
After the Chinese GDP what is left of Interest Read More »
Yesterday, the EUR/USD traded right below the 1.23 mark. As the pair continued to fight an uphill battle. The negative global sentiment on risk and the publication of the Fed minutes were a good enough to weigh on the pair. The euro changed hands in the 1.2265 range at the start of trading in Europe.
An Uphill Battle for the Euro Read More »
Gold futures closed higher, mostly on some safe haven and bargain buying at lower levels. Prices also found support from investor’s ahead of the European Union Summit meet later this week. Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, increased to 1,281.62 tons, as on June 18. Silver holdings
The surprise of the morning, newly elected Greek Prime Minister and the new appointed Greek Finance Minister, have both become too ill to attend the EU Summit this week. At this time Greece will not be represented. New flow today will be centered on the EU meetings and Spain’s official request for financial assistance. Otherwise
The Surprise of the Morning Read More »
Equities showed some volatility surrounding the decision, but closed nearly unchanged. US Treasuries were down ahead of the decision and some curve plays occurred, according to the twist script, which led to an outperformance of the long end and a bear flattening in the 5 to-30-year segments. EUR/USD fell first lower, then spiked higher, before
Deciphering Fed Speak Read More »
The Greek election results make a near-term exit of Greece unlikely, but the longer term outlook regarding euro participation is still uncertain. No party won an absolute majority, but the New Democracy came out first with about 30% of the popular vote and 129 seats (including the 50 seats extra the winner secures according to
The Battle Might Have Ended in Greece but the War Continues Read More »
After a flurry of gains, we are set to see some easing on the Street. Not the quantitative kind from central banks. Big Ben (Bernanke) refused to play ball with the markets on another round of quantitative easing (QE). Markets are already showing their displeasure over the Federal Reserve chairman’s ‘disappointing’ remarks. Asian indices are
The Markets After Big Ben (Bernanke) Read More »
Treasury yields hit their lowest in hundreds of years and global stocks dropped towards 2012 lows on Friday, as investors scrambled for lifelines on worries about Spain’s parlous finances and China’s growth outlook. US stock index futures fell sharply as job growth in May was the weakest in a year and employers added far fewer
Monday Morning Around the Globe Read More »
Yesterday, trading in the EUR/GBP pair was confined to a very tight sideways trading range in the low 0.8000 area. This relative calm occurred even as there were quite some headlines both from EU and the UK. The euro was under slight pressure at the start of trading in Europe as investors were disappointed on
Today's View Of The EUR/GBP Read More »
