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Daily Briefings
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Euro Hits Two Month High against Safe Haven Dollar, Greece Irrelevant?
In yet another remarkable turn, the euro was the best performer through Tuesday’s session. That is particularly unusual considering that underlying risk appetite trends themselves – though positive – were relatively tame.
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Aussie Maintains Gains After RBA Surprise; Euro Finding Support on Greece
The Australian Dollar maintained its gains after the Reserve Bank of Australia bucked market expectations, leaving rates on hold. Meanwhile, the Euro found some support on the Greek debt talks, though the U.S. Dollar was not the worst performer on Tuesday, as concerns clearly persist.
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USD Outlook Hinges On Bernanke, Euro Propped Up By Greek Rumors
The U.S. dollar continued to gain ground on Tuesday as the heightening risk of a Greek default sapped risk-taking behavior, and the reserve currency may appreciate further during the North American trade should Fed Chairman Ben Bernanke soften his dovish tone for monetary policy.
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Aussie Races to Multi-Month Highs As RBA Shocks with Policy Hold
The Australian Dollar is the star performer in Tuesday trade after the RBA opted to leave rates on hold despite a wide consensus expectation for a 25bp rate cut…
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FOREX: Euro, Major Currencies Still Looking to Greece for Direction
Currency markets are waiting for the outcome of negotiations on the terms of the second Greek bailout for direction. The Australian Dollar is broadly outperforming.
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Dollar Finds Relief in Dows Restraint after Friday’s Drive
Hope was high for those looking for risk trends to find momentum after Friday’s impressive close. With the Dow Jones Industrial Average closing at a near, four-year high and AUDUSD (representing carry interest) overtaking a multi-month of its own, it seemed as if capital markets were charged for the next bull phase.
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NZD/USD: Trading the New Zealand Employment Report
Employment is expected to increase another 0.4% in the fourth-quarter, and the ongoing improvement in the labor market may increase the appeal of the New Zealand dollar as the development raises the prospects for a rate hike.
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New Zealand Dollar Due for a Pullback- New Scalp Setup
The NZD/USD has held above daily overbought conditions for the ten consecutive sessions as the pair has continued to track broader market sentiment. However the kiwi look to have reached a critical exhaustion point. Here are the key levels to watch.
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Euro Worst Performer as Greece Tip Toes Around Another Deadline
The Japanese Yen and U.S. Dollar were the top two performing majors in the overnight as the Greek debt saga took another turn for the worse. The Euro trailed the pack as Greece has backed the Euro-zone into a corner.
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Euro Reversal To Gather Pace Ahead Of ECB, Sterling Holds Tight Range
Market sentiment waned on Monday as Greece struggles to secure a debt deal, and the shift away from risk-taking behavior should gather pace during the North American trade as European policy makers struggle to stem the heightening risk for contagion.
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FOREX: Euro Slumps, US Dollar Gains as Greece Flirts with Default
The Euro sank and the US Dollar rose against the major currencies as Greek indecision on a second bailout package brought it the closest yet to a credit default.
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AUD/USD: Trading the Reserve Bank of Australia Interest Rate Decision
As the Reserve Bank of Australia is expected to lower the benchmark interest rate to 4.00%, the rate decision could trigger a sharp selloff in the exchange rate should the central bank maintain a dovish tone for monetary policy.
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Eurozone Needs Greece Resolution to Avoid Real Possibility of Default
The Euro remains under pressure into Monday and will be at the mercy of the developments out of Greece where market participants will be watching to see if a resolution can be reached…
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Dollar at Risk of Fresh Plunge as Dow Moves to Test Multi-Year Highs
Though the dollar ended Friday in the red, its performance was too bad. A sharp correction of intraday gains for the Dow Jones FXCM Dollar Index would leave the benchmark in the red, but it nevertheless ended well off the week’s lows.
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Commodity Currencies Surge as U.S. Economy Adds 243K Jobs in January
The U.S. Dollar took a hit following the January jobs report data, which showed the U.S. unemployment rate dropped to 8.3 percent. However, the Greenback’s weakness is a short-term phenomenon, as the print dampens the need for more easing by the Federal Reserve.
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U.S. Dollar Reversal Underway, Euro Eyes 23.6% Fib
The better-than-expected Non-Farm Payrolls report propped up the U.S. dollar on Friday, and the reserve currency may continue to recoup the losses from the previous month as the development dampens the prospects for additional monetary support.
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Crude Oil, Metals Likely to Rise if US Jobs Data Stokes QE3 Bets
Crude oil, copper and precious metals prices are likely to rise if a slowdown in US job creation stokes expectations of the near-term arrival of new Fed stimulus.
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FOREX: Major Currencies at Standstill as Markets Await US Jobs Report
The US Dollar consolidated against the major currencies overnight as traders looked ahead to January’s US employment report for direction cues.
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Greek PSI Developments and US NFPs Likely Sources of Next Volatility
Overall, price action this week has been uneventful for the Euro, with the market confined to a round of consolidation. But this could soon come to an end with today’s event risk…
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Dollar: Should We Expect Volatility, Trend Development from NFPs?
The dollar found an uneasy break in its painful three-week decline but unless a significant switch on risk appetite trends is flipped, this is likely a pause before the unflappable stimulus-riders return.
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