Sign inRecent Commentaries tagged (euro)
Currencies calmly accept rampant Chinese growth
IB FX Brief Currencies calmly accept rampant Chinese growth Thursday March 11, 2010 There’s a nice mix of arguments this morning to give rise to conflicting views on today’s currency movements. A slew of healthy data out of China confirmed up to be a rambunctious pup desperate to play in the...
Euro was able to stage a technical recovery during the day
EUR/USD The Euro again dipped to test support below 1.3550 against the dollar on Wednesday and the US currency was also unable to sustain a break below this level for the second day. The Euro was able to stage a technical recovery during the day, bolstered by the ability to hold support and...
Chart Presentation: Out of the Blue
March 10 (Bloomberg) — The worst of Greece’s financial crisis is over and other European nations won’t follow in its path, said former European Commission President Romano Prodi. It often feels as if markets crises appear right out of the blue. Typically, however, a problem builds until it hits...
Chinese export data pressures yen
IB FX Brief Chinese export data pressures yen Wednesday March 10, 2010 A year after the weakest close for global equity prices, risk appetite has very much returned to the agenda. Stock prices are 60% or so higher from the bottoms reached in March 2009. Of course at the time no one knew it was...
Continuing lack of confidence in the Euro-zone economy
EUR/USD The Euro was unable to make any headway in early European trading on Tuesday and there was a renewed test of support close to the 1.36 level. The Euro was subjected to further selling pressure during the Europeans session with a low close to 1.3535. There was a continuing lack of...
Chart Presentation: The 12 Month Lead
The question today is whether the long end of the Treasury market is actually leading the short end- and hence the Fed- by close to a year. Below we compare the U.S. 30-year T-Bond futures and 3-month eurodollar futures with the charts shifted or offset by one year. The argument is that the peak...
Sterling under more pressure
IB FX Brief Sterling under more pressure Tuesday March 9, 2010 Ongoing speculation that profits earned overseas by Japanese companies is finding its way home before the fiscal year-end is lifting the yen on Tuesday. At the same time Asian stocks are commemorating the one-year anniversary of the...
Euro maintained a firmer tone
EUR/USD The Euro maintained a firmer tone in early Europe on Monday as French President Sarkozy pledged support for Greece. The Euro also gained some support from generally firm global risk appetite. The Euro-zone economic data was mixed with the Sentix business confidence index slightly...
Prieur’s readings (March 10, 2010)
This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy. • Brian Sack (New York Fed - transcript of speech): Preparing for a smooth (eventual) exit, March 8, 2010. When the time comes to tighten monetary policy, the Federal Reserve...
Ready, willing and able
IB FX Brief Ready, willing and able Monday March 8, 2010 French President Sarkozy’s strong weekend words supportive of the plight of Greece have seemingly struck a chord with investors across a variety of asset classes today. It would appear that last week’s efforts by the authorities in Greece...
Payroll data was slightly stronger than expected
EUR/USD The currency markets were generally quiet ahead of the US employment data release with the Euro holding just above 1.3550 against the dollar. The payroll data was slightly stronger than expected with an decline in employment of 36,000 for February after a revised decline of 26,000 the...
Currency traders may ignore stormy labor data
IB FX Brief Currency traders may ignore stormy labor data Friday March 5, 2010 Ahead of the U.S. employment report the dollar is stable. Dealers will be looking at the headline number, expected to be job losses for February of around 50,000, and deciding whether bad weather distortions nullify...
US payroll data will be watched closely
EUR/USD The Euro failed to extend gains in Asian trading on Thursday and weakened toward the 1.3650 region against the dollar ahead of the ECB interest rate decision. The central bank interest rate decision was in line with expectations as interest rates were left on hold at 1.00%. The bank...
Currencies calm ahead of labor and retail sales data
IB FX Brief Currencies calm ahead of labor and retail sales data Thursday March 4, 2010 The euro is suffering just a little from the ‘morning after’ syndrome and is so far unable to hold onto gains inspired by the austerity of the midweek Greek budget. The tone could be considered less...
The Greek government confirmed that it would make a further EUR4.8bn in budget cuts
EUR/USD The Euro found support below the 1.36 level on Wednesday and maintained a generally firmer tone during the day in a continuing correction from recent lows. The Greek government confirmed that it would make a further EUR4.8bn in budget cuts in order to curb the budget deficit and this...
