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FxProTV

FxPro Currency Check 0730 17.04.2015

FxPro Currency Check 0730 17.04.2015

Angus Campbell

Euro’s turn to defy gravity

The euro has held up very strongly in the face of mounting concerns that Greece will soon have to leave the Eurozone. The IMF have been very vocal in their concerns that Greece is on the cusp of either being late with one of its up and coming repayments or missing it altogether, with the next €200 due on 1st May (a Bank Holiday for most), followed by another €770m on 12th May. This will be averted if reform negotiations are concluded by 24th April and bailout funds are released, but few in ...

Angus Campbell

Aussie defies gravity

The big stand out from last night was the Aussie which has spiked on the back of a much unexpected decline in unemployment. AUDUSD is now back in the mid 0.7700 area marking a two week high as the Australian economy created more than double the amount of jobs expected in March and February’s rise was revised upwards almost threefold. The Aussie has also benefitted from strength in commodities as crude prices have also spiked on the back of a drop in US production and oil stocks. A number of ...

FxProTV

FxPro Currency Check 0730 16.04.2015

FxPro Currency Check 0730 16.04.2015

FxProTV

FxPro Interview with TipTV – FxPro Slippage Statistics and ECB

FxProTV

FxPro Currency Check 0730 15.04.2015

FxPro Currency Check 0730 15.04.2015

Angus Campbell

Concerns rise over Chinese economic slowdown

Chinese GDP data overnight has fallen to its lowest level for six years and whilst it is in line with expectations a little risk aversion has set into the markets overnight and this morning. It is the industrial production and retail sales numbers that have worried investors causing Asian stocks to decline during their session and the dollar has perked up recouping some of yesterday’s losses. Whilst many Asian stocks have been rallying for months on the prospect of further stimulus from central ...

FxProTV

FxPro Currency Check 0730 14.04.2015

FxPro Currency Check 0730 14.04.2015

Angus Campbell

Grexit fears mount

After a quiet start to the week where the dollar just paused for breath, the single currency is coming under renewed pressure this morning, in particular against the Yen as EURJPY has hit a near two year low overnight. Reports that Greece is preparing to default on its up and coming IMF loan repayments in May and June unless a deal is struck by the end of this month have done little to attract buyers of the euro and we’re unlikely to see any upside for some time given that QE has only just got ...

Simon Smith

Early dollar strength

We're seeing some early dollar strength coming through, principally vs. the EUR and JPY, but the kiwi and Aussie were also under pressure during the Asia session in the wake of the disappointing trade data from China. USDJPY is making new highs for the month, above the previous reading of 120.74, whilst EURUSD has fallen for the sixth consecutive session to threaten a move below the 1.05 level. The euro move is also being helped by the further crushing of yields in the Eurozone. The betting is ...

FxProTV

FxPro Currency Check 0730 13.04.2015

FxPro Currency Check 0730 13.04.2015

Angus Campbell

Sterling testing multi-year lows as Election looms

The economic calendar is very quiet today which gives us a chance to reflect on a week gone by that saw a recovery in dollar strength. It was sterling and the euro that were the main losers with sterling being a stand out as GBPUSD has overnight fallen to its lowest level since June 2010, a new low since the last General Election back in May 2010 and it is likely that with less than a month to go to the next General Election, sterling will remain under pressure against the dollar. Trading at ...

FxProTV

FxPro Currency Check 0730 10.04.2015

FxPro Currency Check 0730 10.04.2015

Simon Smith

Tighter ranges on majors

We are seeing daily ranges in major FX pairs move lower as the dollar continues in what can best be described as a corrective phase. The 10 day (simple) average range of EURUSD has moved to near the 6-month average of 1.1 cents (or 110 pips). It peaked over 2 cents in the wake of last month’s Fed announcement. USDJPY is much below the similar 6 months average of the 10 day range. This is largely a reflection of the change in FX drivers we’ve seen, with the many easings of policy that were being ...

FxProTV

FxPro Currency Check 0730 09.04.2015

FxPro Currency Check 0730 09.04.2015

Simon Smith

The more difficult path for FX

The Fed minutes last night revealed that “several” Fed members wanted to raise interest rates as early as June. Whether that view still holds in the wake of last week’s employment report is another matter, but the net effect was to give a modest bid to the dollar in the wake of the release. Interestingly, in looking at the factors that would make them “reasonably confident” that inflation would turn higher, a levelling of the exchange rate was one factor (together with further labour market ...