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FX MARKETS QUIET AHEAD OF THE CHRISTMAS
The dollar was stronger against most of the G10 on light trading volume, which is typical prior to a major holiday. The EurUsd rose 30pips to the mid 1.39 level, while the UsdJpy picked up 10pips to the low 90 price area. The GbpUsd dropped 95pips to low range of 1.48, probably due in part mostly to heightened volatility. Bond yields gave up little ground in terms of prices, as treasury yields remain extremely tight. Eurobond yields dropped across the board, with the French and German 10yr down 7bps. Equity markets closed lower in the US, with the Dow down…
22Dec2008 | Advanced Currency Markets | 0 comments | ContinuedUS SESSION: DOLLAR SLAMMED FOLLOWING FOMC RATE ANNOUNCEMENT
Prices in the FX market continue to experience a strong correction putting a cease to the recent trend of dollar strength. The EurUsd surged over 350pips to the mid range of 1.40, while the UsdJpy dropped 170pips to the high 88 price area. The GbpUsd rallied 260pips to the high 1.55 level, following the trend of dollar selling. Equity markets were positive in the US and Europe, with the Dow up 4.2% or 359pts and the SPX back above 900 on a 5% gain. Interest rates remain the cornerstone of the market with the squeeze in treasuries pushing yields to…
16Dec2008 | Advanced Currency Markets | 0 comments | ContinuedNON-FARM PAYROLLS DO LITTLE TO MOVE MARKETS, DOLLAR DECLINES AFTER EARLY RALLY
The dollar was mixed against the majors, as the early part of the trading session was preoccupied with economic data. The EurUsd fell 80pips to trading through 1.27, while the UsdJpy gained 90pips to the low 93 price area. The GbpUsd rose a little over 30pips to the low 1.47 level, after a volatile start being down as much as 100pips in intraday trading. Equities finished strong in the US with the Dow up 259pts on the Dow, while European stock indexes closed lower with the CAC down over 5% or 173pts. Bonds sold off late pushing yields as much 15bps higher…
5Dec2008 | Advanced Currency Markets | 0 comments | ContinuedUS SESSION: EQUITIES SINK FOR SECOND STRAIGHT SESSION, STERLING SLIDES
The dollar rallied in today’s trading session, as the risk aversion overtook the marketplace. The EurUsd fell 35 pips to the mid 1.24 range, while the UsdJpy dropped 200 pips to the high 93 price area. The GbpUsd declined 225 pips to the low 1.47 level, as Traders selloff high yielding assets. Equity markets tanked in the US with the Dow down an additional 5.5% or 444pts to 7552. European stock indexes were also negative with the SMI down 4% or 217pts, along with the FTSE, CAC, and DAX down more than 3% each. Bond yields collapsed as the 2yr…
21Nov2008 | Advanced Currency Markets | Comments Off | Continued
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