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Sterling gains to 15 month high against Euro
January 6, 2012The euro remains under downward pressure as we head into the first weekend of the year, starting the day below the $1.28 level versus the dollar and well below Stg0.83p versus sterling. As well as seeing 15-month lows versus the USD, heavy losses were also seen versus the yen overnight as the single currency continues [...]
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Euro Sovereign debt risks remain
January 3, 2012Eurozone sovereign associated risk remains the dominant theme for forex markets as trading for 2012 gets underway. After falling to a 15-month low of close to $1.29 versus the dollar last week, the euro has regained some composure but remains vulnerable to fresh selling against both the US and GBP. Amid increasing concerns about the [...]
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Sentiment improves but sovereign risks remain
December 21, 2011Sentiment improved over yesterday, helped by a stronger than anticipated German Ifo survey for December, some upbeat US housing market data and a successful Spanish bond auction. US housing starts and permits surged to a one and a half year high in November, reinforcing the view that the US economy will continue to see moderate [...]
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Euro on the defensive as discussions continue
December 19, 2011The euro has started the week on the back foot versus other majors as it continues to be undermined by sovereign associated risks. EU discussions continue at intergovernmental level but markets remain concerned about the lack of near term progress in resolving the region’
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FOCUS ON EU SUMMIT AND ECB MEETING
December 5, 2011As the focus remains on trying to find a comprehensive solution to Europe’
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Euro under pressure as bond yields spread
November 24, 2011The euro fell sharply yesterday and overnight on the back of poor debt auction results from Germany, as well as talk that the French-Belgian bailout deal for Dexia bank is not viable under its original terms. France may have to carry a bigger share of the costs, putting even further pressure on its credit rating. [...]
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Euro gains following last weeks sell off
November 21, 2011The euro held steady around the $1.35 level in early morning trade, helped by a round of short covering going into the weekend. Reports of an EU paper on the issuance of common bonds also seemed to help the mood, as did news of an outright victory for the conservative party in Spanish elections. The [...]
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Euro-Zone in the spotlight – risk appetite gains momentum
October 13, 2011After reaching highs of $1.3833 versus the dollar yesterday, the euro dipped in early morning trade but remains well supported by the current wave of positive sentiment towards riskier assets. Despite its early morning consolidation, further gains could be seen near term, with the overnight news of a better than expected Australian jobs report f [...]
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Risk Appetite Improves following Non Farm Payrolls
October 10, 2011Risk appetite got a boost going into the weekend following the release of a better than expected US non-farm payrolls report. The data helped ease fears of a renewed recession in the world’
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Euro under pressure as sentiment shifts
October 3, 2011The euro hit eight month lows of $1.3314 versus the dollar in overnight trade, weighed down by the announcement from the Greek government that it will miss this year’
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STERLING GAINS TO 18 MONTH HIGH AGAINST S.AFRICAN RAND
September 21, 2011The rand declined for a fifth day versus the euro and bonds gained on speculation the central bank will signal further rate cuts this week after the International Monetary Fund lowered its global growth estimate. The rand weakened as much as 0.6 percent to 10.5892 per euro, the weakest since Aug. 9, and traded down [...]
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Eurozone Sovereign Debt Crisis Fears Worsen
September 9, 2011The Euro was hit yesterday with widespread selling pressure after ECB president Jean Claude Trichet announced a change in stance over current monetary policy. Interests rates in the Eurozone currently sit at 1.5% due to previous concerns over inflation risks. Despite inflation sitting above 2% and the ECB’
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Swiss National Bank Intervenes CHF Weakens USD Gains
September 7, 2011Yesterday the Swiss National Bank announced that they would take unprecedented measures to weaken the Swiss Fanc. They have stated that their intention is necessary to coerce the currency into a stable state above 1.20 EUR/CHF. The announcement saw one of the biggest moves seen in the currency markets for a decade. Read more …
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Risk Aversion Dominates USD Gains Euro Weakens
September 5, 2011The FX markets are extremely cyclical at the moment, from one week to the next we are seeing wild swings in sentiment. Last week focus fell on the Pound and a host of negative news forced the Pound lower against the majority of the world’
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USD CONTINUES TO SUFFER LOSSES
August 23, 2011Yesterday on a whole saw a calmer day on financial markets and with the major currencies, though still somewhat choppy, remain well within familiar ranges. Overall, markets continue to look ahead to Friday’
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AUD/NZD/CAD & ZAR CONTINUE TO TRACK RISK
August 12, 2011Asian stock markets were higher overnight, buoyed by a rise on Wall Street and yesterday’
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EURO SOVEREIGN CRISIS CONTINUES
August 5, 2011Through the euro zone sovereign crisis the euro has found underlying support in its comparatively higher interest rates and the prospect of further tightening from the ECB. Thus, the growing perception (which intensified after yesterday’
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STERLING AT 2 MONTH HIGH AGAINST THE EURO
August 2, 2011A weak round of data from the US and Europe yesterday has hit market sentiment, with July’