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OBAMA STIMULUS PLAN GAINING BIPARTISAN SUPPORT DOLLAR GAINS
The dollar gained considerable strength in early trading and since began to stabilize against the majors. The EurUsd collapsed nearly 300pips to the low range of 1.36, while the UsdJpy jumped roughly 140pips to the low 93 price area. The GbpUsd built light momentum to the high 1.46 level, up 130 pips in today’s session. Equity markets closed higher in Europe, but experienced losses in the US. The SMI in particular added 4% or 221pts, while the Dow fell .91% or 81pts. Bond yields remain extremely compressed, we saw the beginning of a selling trend in the 10yr UST, but…
5Jan2009 | Advanced Currency Markets | 0 comments | ContinuedUS SESSION: PAULSON AND BERNANKE TESTIFY BEFORE THE HOUSE FINANCIAL SERVICES COMMITTEE REGARDING THE TARP
The dollar was mostly flat against the majors in intraday trading as Fed Chairman Bernanke and Treasury Secretary Paulson discuss the TARP before the House Financial Services Committee. The EurUsd slipped 10 pips to the low range of 1.26, while the UsdJpy rose 85 pips through the 97 level. The GbpUsd was mostly unchanged from the previous session, despite the economic data announced. Equity markets were higher in the US and Europe with the Dow higher by 150pts or a little less than2%, and the FTSE up 1.8% or 76pts. The bond markets were mixed with that short end of…
19Nov2008 | Advanced Currency Markets | Comments Off | ContinuedUS SESSION: RALLY FOLLOWING CHINA STIMULUS PLAN SHORT LIVED
The dollar ended mostly flat against the majors in the US trading session. The EurUsd rose roughly 30 pips to the mid range of 1.27, while the UsdJpy traded through previous support to the high 97 level. The GbpUsd slipped 20 pips putting the pair in the low 1.56 price area. Equity markets suffered losses with the Dow down nearly 1% or 73pts and the SPX (S&P500) lower by 1.27% or 11.78pts. European stock indexes were mixed with the Dax exceptionally higher, up 1.75% or 87pts and the SMI stronger by 1.37% or 82pts. Bond yields have tightened to frightening…
11Nov2008 | Advanced Currency Markets | Comments Off | ContinuedUS SESSION: THE DOLLAR EMERGES AS THE FLIGHT TO QUALITY ASSET IN TROUBLED TIMES
The dollar posted a strong really against most of the majors as global economic conditions deteriorate. The EurUsd fell 240 pips to the low range of 1.27, while the UsdJpy fell slightly lower by 20 pips to the high range of 97. The GbpUsd collapsed 280 pips to the low 1.56 price area following the recent action by the BoE. Equity markets suffered substantial losses with the Dow down 4.85% or 443pts, and the S&P 500 off 5.00% to 904. European stock indexes also declined with the CAC 40 and DAX weaker by more than 6%. Bond yields shrunk with…
7Nov2008 | Advanced Currency Markets | Comments Off | ContinuedDOLLAR STRENGTH DOMINATES THE MAJORS
Dollar strength surged in FX markets today with as investors anticipate the outcome of the US Presidential election tomorrow. The EurUsd slid 85 pips to the downside trading at the mid 1.26 level, while the UsdJpy rallied 70 pips to the low range of 99. The GbpUsd fell 321pips to the mid 1.57 price area as Traders await the rate decision by the BoE. Equity markets were flat in the US, which is standard before a major political event, we should probably see a strong reaction following tomorrow’s results.
European stock indexes saw a modest move to the upside, with the…
4Nov2008 | Advanced Currency Markets | Comments Off | ContinuedUS SESSION: STOCKS CLOSE OUT WEEK STRONG, DOLLAR
The dollar resurged in intraday trading posting strong gains against the majors as the risk aversion trend continues influence market movements. The EurUsd sunk 200 pips to the low range of 1.27, while the UsdJpy declined roughly 60 pips finding support at 98. The GbpUsd collapsed 360 pips to the high 1.60 price area on higher volatility. The equity markets rallied in the US and Europe with the Dow strengthening by 1.5%, while the FTSE picked up 2.00%. Commodities were mixed oil rising 3% to $67bbl and gold sliding 2% to $724oz. Bond yields were slightly tighter at the shorter…
31Oct2008 | Advanced Currency Markets | Comments Off | ContinuedUS SESSION: EQUITY RALLY CONTINUES WHILE DOLLAR MIXED AGAINST THE MAJORS
The dollar mostly flat behind another surge in equities as the recent trend trading based on extreme risk aversion may be starting to diverge. The EurUsd fell 48 pips to the midâ€range of 1.28, while the UsdJpy rose over 100 pips to 98.60. The GbpUsd experienced losses putting the pair back below 1.64 at the mid 1.63 level. Equity markets soared nearly 200 pts on the Dow adding to an exceptionally strong week of trading. European stocks held ground with both the DAX and the FTSE higher by 1%. Bond yields increased 4bps on the 2yr and 11bps on the…
31Oct2008 | Advanced Currency Markets | Comments Off | ContinuedUS SESSION: THE DOLLAR WEAKENS AS RISK AVERSION
Risk Aversion continues to be a key driver in the market place, as the dollar extended yesterday’s losses against most of the majors. The EurUsd rose over 130 pips to low range of 1.28, while the UsdJpy fell 112 pips to high 96 level. The GbpUsd soared 230 pips to 1.61 as pair has traded consistently with the appetite for riskier assets. Equity markets were mixed with the Dow slightly lower following the 10% jump in the previous trading session. European stock indexes rose with the exception of the DAX, which has been largely influenced by the recent activity surrounding…
29Oct2008 | Advanced Currency Markets | Comments Off | ContinuedUS SESSION: EURO AND STERLING CONTINUE TO COLLAPSE
The Usd extended yesterday’s rally into the current trading session, with unprecedented gains across the G10. The EurUsd fell over 200 pips to the high range of 1.28, while the UsdJpy slipped below the 100 level to 98 as risk aversion overtook the marketplace. The GbpUsd was the key story in the FX trading, as the pair declined nearly 850 pips over the last 2 days, putting the sterling at levels seen in September of 2003. The equity markets sank with the Dow down over 500pts at the close, which was consistent with performance overseas in the European indexes. Bond…
24Oct2008 | Advanced Currency Markets | Comments Off | Continued
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