• Nikkei +0.3%, Kospi +0.5%
    Well its not falling sharemarkets which are encouraging the selling in the JPY crosses so we will need to look for another reason. […]
  • JPY crosses sliding early
    Well it is risk off Friday after all so no surprise to see the JPY crosses slide a bit in early Tokyo trade. AUD/JPY will again be the pair to watch and the previously Teflon AUD is starting to show some weakness as seen in the big move lower in AUD/NZD over the last 24 […]
  • USD/JPY orders
    Reports in NY suggested that there were significant bids from 80.70 through 80.50. Yesterday we noted very solid selling interest 81.35/45 and I’m reading reports this morning of quite heavy stops above 81.50. […]
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  • MNI Forecast Competition Sees +0.5% for CPI
    NEW YORK (MNI) – Forecasters Thursday saw an average +0.5% result for Friday’s headline April Consumer Price Index from the Labor Department in the ongoing three-month MNI Forecast Competition. Forecast contest participants delivered their CPI forecasts by the 10:30 ET Thursday deadline. The next statistic to be estimated will be Tuesday’s industrial product […]
  • EUR/USD: Range trading favoured; 1.4120/1.4470 parameters
    The market sentiment towards the USD is very cautiously improving whilst sentiment towards the EUR can be described as nervous. That means we should have an increasing percentage of the market willing to sell EUR/USD but against this is the fact that the uptrend is still in play. That suggests short-term range trading to me whilst […]
  • Australia’s increased bet on China
    This Bloomberg analysis piece looks at the Australian plans to get the budget back in the black, betting that Chinese growth will carry it through. […]
  • ForexLive Asian market open
    Choppy trade overnight has again shown the value of patience to the FX trader. Most of the major pairings have looked really well bid or really well offered at some stage over the last 24 hours but, with the exception of cable, are pretty much where they were yesterday morning. EUR/USD briefly broke below technical […]
  • ForexLive US wrap: Turnaround Thursday
    Risk trade hammered in London, largely reversed in US trade US retail sales rise 0.5%, slightly below expectations US weekly jobless claims fall 44,000 in latest week US PPI rises 0.8% in April IMF’s Borges: Need competitor to dollar for global monetary rebalancing; euro the alternative EB’ Coene: Very hawkish UK NIESR: GDP seen at […]
  • Still all one trade
    Basically we are all oil traders now…it rallies and EUR/USD rallies. It reverses and EUR/USD reverses…The brief foray above $100 soon fizzled and we now trade at $98.65, about $3.25 above the overnight lows. EUR/USD trades quietly after squeezing as high as 1.4277 earlier this afternoon. We’re now at 1.4237. […]
  • French PM: Q1 growth more than 0.8%
    The data is set to be officially released tomorrow. 0.6% is the median forecasts. […]
  • Oil back above a hundo
    Oil’s up $5 from its session low, now at $100.25…easy to see why exchanges are ratcheting up margin as volatility goes through the roof in commodities. I bet lots of doctors, dentists and accountant who fancied themselves commodities “players” are now cowering under the bed covers… Risk on all around as EUR/USD consolidates gains in […]
  • US Sen.McConnell: ‘Grand Bargain’ on Budget Poss on Debt Hike
    –Senate Minority Leader: Need ‘Trillions’ in Spending Cuts On Debt Bill –Debt Hike Provides Chance To Do ‘Really Big Stuff’ –Tax Reform, Social Security Fix Won’t Be In Debt Hike –Obama ‘Working It Hard’ On Debt Hike Bill By John Shaw WASHINGTON (MNI) – Senate Minority Leader Mitch McConnell said Thursday that Senate Republicans had […]
  • EUR/USD doing some damage to the shorts
    Stops above 1.423, 1.42555 and 1.4270 have all been triggered as EUR/USD bounces from a probe through the 38.2% retracement of the 1.2860/1.4940 rally. The further we bounce, the more the Fibo looks as though it acted as support (more or less). Next resistance of note is 1.4315, the 23.6% Fibo of 1.4940/1.4123. The combo […]
  • Moody’s: Outlook for US banks remains negative
    Credit quality still weak but will continue to improve Negative outlook takes into account a downside risk scenario in which the US banking system could require more capital Fiscal and monetary stimulus have made another economic contraction less likely Banks face incremental revenue pressure from regulatory constraints, moving derivatives to exchanges […]

Australian Dollar Rally To Be Short-Lived, Euro Capped By 20-Day SMA

The Australian dollar outperformed against its currency counterparts on Thursday as the economic docket reinforced an improved outlook for the region, while the Euro slipped to a low of 1.3165 as fears surrounding the European debt crisis continued to weigh on market sentiment.

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Daily Change (pip)

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The Australian dollar . . . → Read More: Australian Dollar Rally To Be Short-Lived, Euro Capped By 20-Day SMA

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Dollar climbs after Fitch cuts Ireland’s ratings

NEW YORK (AP) — The dollar climbed against the euro after the credit ratings agency Fitch slashed Ireland’s debt rating, saying its big bailout showed its debt crisis was worse than had been known. The move highlighted the euro region’s problems and prompted traders to resume selling euros.

The European Union bailed out . . . → Read More: Dollar climbs after Fitch cuts Ireland’s ratings

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Dollar higher after Obama, GOP make a tax deal

Dollar gains vs euro, yen after Obama, GOP make a tax deal that could boost US economy

The dollar kept gaining against yen and edged higher versus the euro Wednesday in the aftermath of a tax package that, if passed, could boost the U.S. economy.

Republican leaders and the White House made a deal extending . . . → Read More: Dollar higher after Obama, GOP make a tax deal

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Stocks edge higher, Treasurys fall on tax-cut plan

NEW YORK (AP) — The compromise backed by President Barack Obama and Republican leaders on extending tax cuts crushed bonds Wednesday as traders expected the plan to lead to higher budget deficits and a pickup in economic growth. Stocks posted modest gains.

Congressional Democrats could still scuttle the tax agreement, but bond traders . . . → Read More: Stocks edge higher, Treasurys fall on tax-cut plan

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Oil prices hit $90 milestone

High gas prices on display at a Shell gas station in San Francisco, Monday, Dec. 6, 2010. Americans are getting a sour holiday surprise at the gas pump, where prices are at the highest they’ve been in over two years. Although supplies remain plentiful and gasoline demand has diminished since September, . . . → Read More: Oil prices hit $90 milestone

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