FxProTV

FxPro Currency Check 0730 27.03.2015

FxPro Currency Check 0730 27.03.2015

Simon Smith

Re-writing the dollar rules

Yesterday was a strong indicator of the changing dynamic in FX markets, in that we saw the dollar weaker even when stocks were on the back-foot and political tensions in the Middle East were escalating. We moved away from the “risk-on/risk-off” world seen in the wake of the global financial crisis and the dollar was weaker despite these twin forces that in the past would have propelled the dollar higher. Since then, we’ve seen the dollar recover, with the dollar index bouncing off trend line ...

FxProUpdates

FxPro Interview with TipTV – Seminar, EUR/GBP & USD/JPY

Simon Smith

More sustained dollar weakness

The dollar is on the defensive in the early part of the European session. This is most noticeable on USDJPY, which is now below the 118.50 level. The price action is not more indicative of a dollar correction after the volatility seen in the wake of the Fed decision, rather than a pause in the up-trend. This could well serve to increase FX volatility into the end of the month as longer-term players are forced to re-consider their positioning. Elsewhere, the dollar correction is also apparent ...

FxProTV

FxPro Currency Check 0730 26.03.2015

FxPro Currency Check 0730 26.03.2015

FxProTV

FxPro Currency Check 0730 25.03.2015

FxPro Currency Check 0730 25.03.2015

Simon Smith

Still deciding on the dollar

Yesterday was about the debate regarding the dollar; consolidation or correction. As always, it depends where you look, because at the moment it's a fairly mixed picture. Despite some goods efforts, EURUSD has not yet pushed about the 1.1043 high made on Wednesday last week. The dollar index has pushed below the low made last week, in part helped by the strength of the Swiss franc. On the other side, sterling struggled in the wake of the latest inflation data, which underlined that the UK is ...

Simon Smith

Sterling lower on weaker inflation data

Sterling initially recovered the initial losses seen on the back of weaker than expected inflation data, but is now down to the 1.49 level as some residual dollar strength comes through. This showed the headline rate falling to zero in YoY terms, with the core rate falling to 1.2%, from 1.4% in the previous month. The latter number is important because it has been rising over the previous two months, so this has now been unwound and undermines, to a degree, the notion that the inflation we are ...

FxProTV

FxPro Currency Check 0730 24.03.2015

FxPro Currency Check 0730 24.03.2015

Simon Smith

Gauging the dollar correction

The question for markets right now is whether the dollar is pausing for breath after last week’s volatility, or we are seeing the start of a dollar correction from the relentless uptrend seen over the past 8 months. The dollar index itself remains above the lows of last Wednesday (96.628), but if this is broken, then the dollar will be facing a more bearish near-term outlook as stops are triggered. For EURUSD, Wednesday’s high of 1.1043 is the initial upside resistance, with the single currency ...

Simon Smith

Shaking off Greece

When it comes to the single currency and Greece, the one thing to know is that trading Greece on the back of Greek developments is a frustrating road to ruin. Just as Greece hits the headlines once again regarding its ability to pay upcoming obligations, the single currency has continued its move higher, both against the dollar together with sterling and the yen. Merkel and Greek PM Tsipras meet later today to try and iron out a way ahead. At present, EURUSD is within the range seen last ...

FxProTV

FxPro Currency Check 0730 23.03.2015

FxPro Currency Check 0730 23.03.2015

Simon Smith

Greece concerns resurface

The result of last week’s change in Fed language was a reversal of the recent dollar strength, together with new highs in Eurozone equities. The Eurostoxx 50 has risen for seven consecutive weeks, whilst the UK FTSE has broken through the 7,000 level. On the face of it, the QE party has further to run and especially for the Eurozone. The looming risk on the horizon once again in Greece, where the pressure once again is on as the Greek PM has been meeting with Eurozone officials and the German ...

FxProTV

FxPro Interview with TipTV – FOMC & EUR/USD, UK office

FxProTV

FxPro Currency Check 0730 20.03.2015

FxPro Currency Check 0730 20.03.2015

Angus Campbell

Dinner in Brussels

The standoff between Greece and European leaders continues and last night a dinner was held between Greek Prime Minster Alexis Tsipras and key figures in the Eurozone including Angela Merkel and Mario Draghi, to try and end the stalemate. What remains clear is that the Eurozone is standing firm, refusing to give Greece any preferential treatment and also refusing to release the agreed extended bailout funds until they present a meaningful reform plan. Putting aside the explosive volatility of ...