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Monday, September 14th, 2009
The Euro rose against its key rivals the greenback, the Yen and Pound. The Pound was weaker on a housing report while the Canadian Dollar slid as oil prices fell.
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Friday, September 11th, 2009
The Yen gained on the greenback, pound and euro, while the greenback traded mainly sideways against its other rivals. IN fundamental news the UMich consumer sentiment jumped for the mid-Sept reading.
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Thursday, September 10th, 2009
The Pound rose against the Dollar and Euro following today's Bank of England decision to hold rates steady and to keep their asset purchase plan at the same size. Stocks in the US rose to 2009 highs, but the greenback was weaker against the Yen.
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Wednesday, September 9th, 2009
The greenback declined today against key rivals as higher global stocks pushed up risk appetite. The Euro-Dollar pair broke out of its sideways channel to the upside, with the Euro hitting a 2009-high.
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Tuesday, September 8th, 2009
The greenback declined today against key rivals as higher global stocks pushed up risk appetite. The Euro-Dollar pair broke out of its sideways channel to the upside, with the Euro hitting a 2009-high.
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Friday, September 4th, 2009
Following an initial move in favor of the greenback in the wake of the US jobs report, markets turned and sold the greenback heading into the long weekend..
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Thursday, September 3rd, 2009
The Euro gave up overnight gains following the ECB decision as Trichet did not signal higher rates in the months to come. The Yen weakened on higher stocks, while the Pound gained on the greenback adn Euro following a strong services sector release.
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Wednesday, September 2nd, 2009
The Yen gained on safe haven demand while the greenback faltered. The Aussie rose on better than expected GDP.
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Tuesday, September 1st, 2009
The Dollar and Yen rose in today's trading as falling equities overpowered better fundamental data, increasing risk aversion.
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Monday, August 31st, 2009
Risk aversion overnight, due to falling Chinese stocks, was countered in NY trading by a better than expected Chicago PMI release.
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Friday, August 28th, 2009
The Euro declined in late NY trading as US stocks faltered to end the week. Most pairs remained within their consolidation patterns as they await important data due out next week.
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Thursday, August 27th, 2009
US GDP came in better than expected which helped turn around a sense of risk aversion from overnight. US stocks rallied in late trading which helped to strengthen the dollar's rivals. The Pound meanwhile remained under pressure.
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Wednesday, August 26th, 2009
Despite some better from Germany and the US, currency markets favored the greenback and Yen in today's trading as worries about China's growth and weaker stocks in Europe and the US increased risk aversion.
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Tuesday, August 25th, 2009
The Pound fell vs its rivals as yields fell for gov't debt while the Loonie receded on lower oil prices. The Euro and Yen traded mixed against the greenback as risk aversion overnight was met by positive US consumer confidence and housing price data.
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Monday, August 24th, 2009
Despite better new orders data the Euro inched lower vs the greenback while the Pound slid as expectations regarding yields may help the greenback.
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Friday, August 21st, 2009
Positive manufacturing and services PMI data from the Euro-zone and surging US existing home sales helped pace a rally in stocks that bolstered the Euro and Loonie against the Dollar.
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Thursday, August 20th, 2009
The Euro traded sideways, rising higher in late NY trading. The Pound meanwhile was pressured by a record amount of government borrowing for the month of July. The Loonie strengthened on higher oil and US stock prices.
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Wednesday, August 19th, 2009
The Euro, Pound and Loonie rallied against the greenback in NY trading, reversing their overnight losses. The Swiss Franc strengthened in today's trading, while the greenback slid to the Yen.
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Tuesday, August 18th, 2009
Consumer prices were higher than expected in the UK, boosting the Pound during a session in which global stocks rose as well. Weaker US producer prices and housing starts were shrugged off in the NY session.
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Friday, August 14th, 2009
A weak US consumer confidence report pressured high-yielders in today's trading.
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Thursday, August 13th, 2009
The German economy surprised forecasts by showing positive growth in the 2nd quarter which bolstered the Euro. In the US, a disappointing retail sales report increased risk aversion helping to support the Yen.
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Wednesday, August 12th, 2009
With stocks rallying, especially in the US, higher-yielders rose prior to the FOMC release. Following the release there was a burst of dollar strength but that faded quickly.
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Friday, August 7th, 2009
With the US economy shedding less jobs than expected and the unemployment rate inching lower, the greenback found strength against its rivals.
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Thursday, August 6th, 2009
The Pound fell after the Bank of England surprised markets by expanding its QE program. The greenback meanwhile stiffened prior to its nonfarm payroll report.
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Wednesday, August 5th, 2009
The ADP Employment report and the ISM Non-Manufacturing Index both disappointed pressuring risk appetite in NY morning trading. The Pound meanwhile gained after its services PMI surprised on the upside, and housing prices climbed.
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Tuesday, August 4th, 2009
Currency pairs traded sideways or gave up some of their loftier gains from the past two sessions as stocks traded lower in Europe and mixed in the US, giving traders the chance to re-assess the recent moves.
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Monday, August 3rd, 2009
Positive manufacturing data from China, UK and US helped spur rallies in global stocks, which extended the gains in higher-yielders seen last week.
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Friday, July 31st, 2009
With 2nd quarter US GDP coming in higher than expected, higher yielders like the Euro and Pound rallied against the greenback.
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Thursday, July 30th, 2009
Stocks surged in Europe and the US, and bolstered by better data higher yielders like the Pound, Aussie and Loonie rose against the greenback and Yen.
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Wednesday, July 29th, 2009
Plunging Chinese stocks increased risk aversion overnight, bolstering the greenback against its key rivals. Disappointing durable goods orders for June extended the greenback's gains.
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Tuesday, July 28th, 2009
A weak consumer confidence report sent US stocks down, helping to boost the greenback against its main rivals.
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Monday, July 27th, 2009
The Euro rose overnight on German consumer confidence data while risk appetite was bolstered by a surprise surge in US new home sales. The greenback was generally lower except against the Yen.
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Friday, July 24th, 2009
The Pound was pressured by GDP data that undershot forecasts while showing that the annual pace contracted at a record. The Euro meanwhile was boosted by positive fundamental data..
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Thursday, July 23rd, 2009
With global stocks higher the Euro and Pound rose against the Yen and greenback. The rally was boosted by better data from the UK and US. However, the Dollar managed to stage a late rally.
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Wednesday, July 22nd, 2009
The market looked for direction in today's trading with the greenback slightly weaker in NY trading. The Pound was boosted after minutes showed it was a unanimous vote to not expand its quantitative easing policy.
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Tuesday, July 21st, 2009
In testimony before Congress today Bernanke focused on the recovery, sounding a cautious tone, while at the same time reassuring gov't officials that the Fed will be able to stem inflation when the recover is in place. The news helped bolster the greenback and Yen.
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Monday, July 20th, 2009
Higher global stocks boosted the Euro, Pound and the commodity bloc of currencies against the greenback and Yen.
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Friday, July 17th, 2009
The greenback and Yen gained overnight as continuing jitters over CIT Group and a terrorist attack in Indonesia boosted safe haven demand. However, a stronger housing starts release reignited some risk appetite in NY trading.
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Thursday, July 16th, 2009
Some financial jitters over the bankruptcy of CIT Group increased risk aversion and stalled the rallies in higher yielders vs the greenback and Yen.
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Wednesday, July 15th, 2009
The greenback fell modestly against its rivals with commodity currencies like the Aussie and Loonie extending their gains from earlier in the week. A surge in global stocks and an increase in risk appetite were the main factors behind the Dollar's slide.
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Tuesday, July 14th, 2009
Currency movements today were mainly attributed to an improvement in risk sentiments. Risk appetite rebounded in the Monday session and continued to dominate Tuesday's session, pressuring the Dollar and Yen.
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Friday, July 10th, 2009
A return of risk aversion overnight helped boost the Yen and Greenback, which recliamed their gains following a rally in higher-yielders yesterday.
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Thursday, July 9th, 2009
Stocks in Europe rose for the first time in six sessions which was followed by a rise in US stocks. That helped boost risk appetite which helped the Euro and Pound pare yesterday's losses.
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Wednesday, July 8th, 2009
The Yen saw strong moves in its favor as it broke key support levels on the back of risk aversion.
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Tuesday, July 7th, 2009
The Euro was higher in European trading as stocks rose and Germany released better than expected manufacturing data. However those moves were reversed as NY trading saw stocks slide and risk aversion boost greenback strength.
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Monday, July 6th, 2009
With stocks sliding overnight, the Yen and greenback continued the theme of risk aversion following Thursday's weaker non-farm payroll report.
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Thursday, July 2nd, 2009
Today's disappointing nonfarm payroll report added to risk aversion that had already grabbed hold in overnight trading. Plunging stocks strengthened the Yen and Dollar.
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Wednesday, July 1st, 2009
Following a move in favor of the greenback yesterday on the back of dips in equity markets amid the close of the second quarter, today saw a return to positive sentiment. Stocks rallied from yesterday's sell off and the Euro was a top performer.
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Tuesday, June 30th, 2009
Stocks in Europe and the US fell today as the UK posted weaker 1st quarter GDP data and the US saw consumer confidence unexpectedly slide. The burst of risk aversion strengthened the greenback against its rivals.
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Monday, June 29th, 2009
Higher equities and commodities boost risk appetite weakening the Yen and greenback against their major rivals.
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Friday, June 26th, 2009
The greenback was weaker today as Chinese officials called for diversifying away from the US Dollar as the global reserve currency, despite risk aversion which boosted the Yen.
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Thursday, June 25th, 2009
European stocks slid overnight boosting the greenback. However a turnaround in US equities brought back risk appetite which helped higher yielders pare their earlier losses.
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Wednesday, June 24th, 2009
Today's FOMC announcement painted a slightly more rosier picture of the economy, while easing the language about the threat of deflation. The greenback extended gains against key rivals following the release.
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Tuesday, June 23rd, 2009
The greenback came under pressure today while the Euro surged against its rivals as speculation increases that the Fed will try and lower expectations of an interest rate increase this year in tomorrow's statement.
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Monday, June 22nd, 2009
A plunge in European and US equities were the main catalyst for risk aversion in currency markets. The Yen and greenback were up against their main rivals.
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Friday, June 19th, 2009
Higher stocks in Asia and Europe increased risk aversion in today's session, weakening the greenback and the Yen overnight.
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Thursday, June 18th, 2009
Currency markets saw consolidation today as the greenback gained against its key rivals, but stayed within key levels and retracement points.
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Wednesday, June 17th, 2009
The Greenback weakened against its major rivals, following a day of strong gains. The Yen moved to a new two-week high, while the Euro established an upward sloping line of support. The Pound meanwhile, slid in European trading.
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Tuesday, June 16th, 2009
The US Dollar slid against its rivals in a retracement of yesterday's strong move. The Yen gained on its rivals as risk aversion remained in play in the currency markets.
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Monday, June 15th, 2009
The US Dollar and Japanese Yen rose today as global stocks fell. The ECB put out a rerport warning of more bank losses which caused a mass of Euro selling.
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Friday, June 12th, 2009
With Japan's finance ministers showing confidence in US debt, the greenback rose against its main rivals. Also, weaker stocks put a damper on risk appetite to end the week leading to some retractions from recent rallies.
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Thursday, June 11th, 2009
With equities climbing around the world and the Dollar pressured by concerns about countries diversifying their reserves, the greenback fell against its main rivals.
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Wednesday, June 10th, 2009
The Dollar rose against its key rivals today as a burst of risk aversion during NY trading may have prompted a correction to the recent moves this week.
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Tuesday, June 9th, 2009
The Dollar fell against its key rivals breaking support levels vs the Yen and Loonie, while the Euro and Pound extended yesterday's rallies vs the greenback.
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Monday, June 8th, 2009
The Euro slid overnight as a downgrade of Ireland's sovereign debt rating and concerns over banks pressured the single currency. The Dollar was up overnight, but gave up most of its gains in NY trading..
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Friday, June 5th, 2009
The
nonfarm payroll report showed the US economy shedding 345K, a much
better figure than the 520K decline expected by economists. The news
strengthened the greenback against its rivals as it implied the US
recession was easing faster than expected.
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Thursday, June 4th, 2009
Three central banks held rates steady today, and offered little in
terms of new news about quantitative easing. The Euro rose against the
Pound and clawed back overnight losses to the greenback.
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Wednesday, June 3rd, 2009
The
Aussie, Pound, and Loonie, among others reversed their recent rallies,
retracing large parts of this week's gains. Risk aversion from falling
stocks and expectations that the recent rally in equities may have been
overdone spooked risk appetite.
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Tuesday, June 2nd, 2009
The
greenback slid lower today as data continued to show major economies
seeing some easing of their recession. With the safe haven status of
the greenback weakening, traders are focusing on the structural
difficulties of the Dollar and selling it.
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Monday, June 1st, 2009
In
a day full of economic news, the themes present last week continued.
The Pound gained on its rivals while the greenback was pressured
against commodity currencies and the Euro. GM filed for bankruptcy, but
stocks still surged, pushing the Dollar up vs the Yen.
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Friday, May 29th, 2009
The
greenback fell against its major rivals, sliding sharply against the
Euro, Pound, Yen and Loonie. Risk appetite in addition to greenback
weakness pressured the Dollar heading into the weekend.
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Thursday, May 28th, 2009
The
Yen slid against its key rivals as a report showed Japanese investors
buying foreign assets, an indication that they believe the global
recession is receding and that carry trade may resume.
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Wednesday, May 27th, 2009
Following some overnight gains, higher-yielding currencies slid to the
greenback in NY trading on weak stocks. The Pound had a strong session
as it gained on its rivals on hopes the worst of the financial crisis
is over.
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Tuesday, May 26th, 2009
The
higher-yielders like the Euro, Aussie and Loonie recovered overnight
losses to the Yen and Greenback as a report on US consumer confidence
surprised forecasts with a big jump. Stocks were higher increasing risk
appetite.
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Friday, May 22nd, 2009
The
Dollar continued to be sold off today as investors and traders worried
over US credit worthiness, a theme that sprang up mid-week and has
pressured the greenback.
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Thursday, May 21st, 2009
The
Pound fell in European trading on news that S&P was considering
downgrading Britain's credit rating. Though it managed to claw back its
losses, the greenback faced a brunt of selling as similar concerns can
be made of the US.
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Wednesday, May 20th, 2009
The
greenback fell to multi-month lows against its key rivals as risk
appetite continued in the markets. Expectations of a recovery have
sapped demand for the greenback as a safe haven.
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Tuesday, May 19th, 2009
The
Pound, Euro and commodity currencies continued their rallies vs the
greenback as risk sentiment remained in favor of risk appetite. Data
today showed UK inflation cooling, Euro-zone investor confidence surge
upward, and US housing starts fall to a record low.
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Monday, May 18th, 2009
Global equities surged higher today, which boosted the Pound, Euro and
commodity currencies like the Loonie against the greenback and Yen.
Data from the UK showed housing prices rising, while a US builder
confidence survey rose to its highest level since September.
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Friday, May 15th, 2009
The
Euro was pressured today as 1st quarter GDP figures were worse than
expected and European equities fell. US stocks were down as well,
boosting risk aversion which helped the Yen and greenback gain on their
rivals as investors looked for safe haven.
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Thursday, May 14th, 2009
European equities rallied late, and US stocks rose, giving
higher-yielding currencies support and a chance to counter-rally
following recent gains by the Yen and greenback on the back of risk
aversion.
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Risk Aversion Boosts Yen and Dollar as Equities Slide in Europe and US
Wednesday, May 13th, 2009
Weak industrial production data from the Euro-zone, retail sales
figures from the US, and the outlook from the Bank of England pressured
global equities, increasing risk aversion, which boosted the Yen and
greenback.
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Tuesday, May 12th, 2009
The
UK released data on retail sales, housing, manufacturing production,
and employment today. The data pointed to a moderation of the UK
recession and helped the Pound reach a 4-month high against the
greenback.
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Monday, May 11th, 2009
With fundamental news light today, dips in global equities dictated
market movement. The Yen and greenback gained, reversing some of their
losses from last week.
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Friday, May 8th, 2009
Today's jobs report from the US came in better than expected, which
helped boost risk appetite and led to gains by the Euro, Pound, Yen and
Loonie against the greenback. Higher global stocks also contributed to
higher risk sentiment.
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Thursday, May 7th, 2009
The
ECB lowered rates to 1% as expected and announced a plan to spend 60
billion euro to buy bonds in a step to start quantitative easing. The
BOE pledged more money for their quantitative easing. With US stocks
lower, NY trading saw the greenback gaining.
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Wednesday, May 6th, 2009
Data from Australia showed retails sales climbing and the trade balance
beating forecasts. The UK posted a better than expected services report
and the US showed private sector jobs losses at their lowest level
since October.
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Tuesday, May 5th, 2009
The
greenback pared earlier overnight losses in late NY trading as US
stocks were down, giving risk appetite a pause. The RBA held rate
steady and the Aussie hit its highest against the greenback this year.
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Monday, May 4th, 2009
Stocks rose in Europe and the US, as did oil prices, helping to boost
risk appetite which weakened the greenback against its key rivals. The
Loonie hit a six-month high while the Aussie, Euro and Pound climbed as
well.
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Friday, May 1st, 2009
Better manufacturing data helped the Pound gain on its rivals,
especially the Yen which saw weaker than expected unemployment, wages
and inflation results. The Euro and Dollar traded in a small range
today as European countries celebrated Labor Day.
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Thursday, April 30th, 2009
In
a day full of fundamental data, the Yen was weaker as stocks rallied
overnight and the BOJ lowered its growth forecasts. The Euro and Pound
continued their rallies overnight vs the greenback but gave up those
gains in later trading.
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Wednesday, April 29th, 2009
The
greenback was down today as global equities rose, boosting risk
appetite. The markets brushed off a weaker than expected US GDP
release, and the FOMC held little surprise for market participants.
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Tuesday, April 28th, 2009
The
overnight session continued the risk aversion seen to start the week,
as stocks in Asia and Europe were lower. However, a better than
expected US consumer confidence report helped higher-yielders win back
most of their overnight losses.
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Monday, April 27th, 2009
An
outbreak of the so called "swine flu" over the weekend added a sense of
risk aversion to currency markets as equities were sold off. That
helped the greenback and Yen gain on their rivals. While an early rally
in US stocks helped push up the Pound, others like the Loonie fell back
down in NY afternoon trading.
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Friday, April 24th, 2009
The
greenback was lower again in today's trading as risk appetite and a
better than expected IFO business climate release from the Euro-zone
pushed up the Euro. Other key rivals were up as well as the week
closed, with most reversing their Monday losses.
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Thursday, April 23rd, 2009
The
Dollar was weaker today, falling for a second straight day against the
Euro as traders latched onto better than expected services and
manufacturing data. The Pound reclaimed yesterday's losses, while the
Loonie broke below a support level.
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Wednesday, April 21st, 2009
The
Pound gave up yesterday's gains and then some after it releases its
annual budget and projections for the next year. The Euro and others
rose against the Dollar, reversing yesterday's greenback gains as well.
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Tuesday, April 21st, 2009
The
Yen gave up a portion of its gains from yesterday as equities in the US
recovered on a rebound in financial stocks. The Bank of Canada
surprised forecasts and cut rates to a record low of 0.25%.
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Monday, April 20th, 2009
Stocks slid sharply in Europe and the US, led by falls in bank stocks,
which increased risk aversion. That boosted the Yen and greenback at
the expense of their rivals.
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Friday, April 17th, 2009
The
Euro fell below 1.31 vs the greenback and dipped below the 129 level vs
the Yen. ECB policy makers are divided about what steps to take and
that has been pressuring the Euro. The greenback rose against other key
rivals, while the Franc was down.
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Thursday, April 16th, 2009
Currencies like the Aussie, Kiwi, Pound and Loonie fared weaker today
as China reported the weakest growth in nearly a decade. The Euro fell
as weak industrial production mingled with a sense of that policy
makers are in disagreement in what steps the ECB should take next.
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Wednesday, April 15th, 2009
The
Pound moved above 1.50 vs the Dollar for the first time since January
and continued its ascent vs the Euro. It was helped by better than
expected RICS housing data. In the US data showed annual CPI turning
negative and production falling again by 1.5%. In better news the
Empire index and NAHB housing index both improved significantly.
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Tuesday, April 14th, 2009
The
Greenback falls on worse-than-expected retail sales and wholesale
prices. New Zealand's retail sales were better than expected and the
business confidence in Australia is improving.
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Monday, April 13th, 2009
The Greenback falls on worse-than-expected retail sales and wholesale
prices. New Zealand's retail sales were better than expected and the
business confidence in Australia is improving.
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Friday, April 10th, 2009
With thin liquidity as a result of Good Friday currency markets were
quiet. The Euro was pressured this week against the greenback and
Pound. Next week brings retail sales, and both producer and consumer
prices from the US.
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Thursday, April 9th, 2009
Stocks around the world rose on a better than expected earnings
forecast from Wells Fargo. That helped boost risk appetite and
pressured the Yen. Despite risk appetite in equity markets the
greenback was higher against the Euro.
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Wednesday, April 8th, 2009
Stocks in Asia were lower, causing the Yen to gain on the back of risk
aversion. Data from Europe showed German exports and factory orders
declining, while Canada's housing starts came in better than expected.
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Tuesday, April 7th, 2009
Risk appetite was still in the air today as the Yen and Dollar gained
overnight as stocks in Asia and Europe fell. There was a slight
pull-back to those moves despite weak US stocks. The RBA cut rates by
25 basis points, surprising markets.
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Monday, April 6th, 2009
The
Yen and greenback gained on the back of increased risk aversion as
stocks in Europe and US fell on concerns regarding bank losses. In data
from the Euro-zone retail sales were lower than expected while producer
prices fell more than expected.
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Friday, April 3rd, 2009
Despite data from the US showing the economy shedding 663K and the
unemployment rate climbing to 8.5%, a 25-year high, the sense of risk
appetite in the markets could not be deterred. The Euro, Pound and
Loonie extended gains from yesterday, while the Yen fell.
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Thursday, April 2nd, 2009
The
ECB decided to cut rates by a quarter point, a smaller move than was
expected. With global stocks rallying and risk appetite up, the Euro
had a strong day against its rivals. Other higher yielders like the
Pound and Loonie also saw significant gains vs the Yen and Dollar.
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Wednesday, April 1st, 2009
The
Pound gained against its rivals as manufacturing data showed
contraction in the sector eased considerably. Data from Japan and the
Euro-zone was not as rosy, though in the US weak job data was
overshadowed by better housing and manufacturing releases.
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Tuesday, March 31st, 2009
The
Yen was pressured today as equities rose in Europe and in the US,
helping boost risk appetite. Forex markets saw a correction to some of
the moves seen the past two sessions. Data from Japan showed a
deepening recession while US home prices hit a record low pace and
consumer confidence was close to record lows.
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Monday, March 30th, 2009
The
Yen and Dollar opened the week strongly as risk aversion continued from
Friday's session as a result of US government's rejection of the
recovery plans presented by GM and Chrysler. The news sent forex
traders looking for safe haven in the Yen and Dollar.
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Friday, March 27th, 2009
The
Euro and Pound fell sharply against the greenback and Yen as
fundamental data such as UK GDP and Euro-zone new industrial orders
show a weakening European economy. The Yen rose strongly due to
repatriation of funds at the end of the Japanese fiscal year.
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Thursday, March 26th, 2009
Global stocks rose today, increasing risk appetite which pushed
higher-yielding currencies higher against hte Yen. In fundametnal news,
UK retail sales were much weaker than expected, while US GDP was
revised down by a smaller amount than forecast.
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Wednesday, March 25th, 2009
The
greenback felt the pressure from comments by Treasury Sec. Tim Geithner
who seemed to give merit to a report from the Chinese to move away from
the greenback as the globe's reserve currency. In the US, durable goods
orders and new home sales both surprised.
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Tuesday, March 24th, 2009
UK
consumer prices rose 3.2% in annual terms, much higher than the 2.6%
forecast by economists. The Pound strengthened on the news against its
key rivals - the Euro, Dollar and Yen. The greenback was stronger
against the Euro, Loonie and Yen.
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Monday, March 23rd, 2009
The
announcement of further details about the Treasury Department's plan to
buy toxic assets from banks was cheered in global equity markets. That
led to an increase in the greenback in early trading which turned to
more general risk appetite on a surge in US stocks.
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Friday, March 20th, 2009
The
Dollar finished higher against its main rivals as traders pared part of
the moves seen the last two sessions which has seen the greenback sold
off. In Europe, industrial production fell by a record annual rate in
January while Canadian retail sales came in better than expected.
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Thursday, March 19th, 2009
The
Dollar continued being sold off today following yesterday sharp slide.
The Euro, Pound, Loonie and Yen all hit multi-week highs vs the
greenback. The Fed's decision to print and buy about 1 trillion worth
of assets and Treasuries has undermined any recent Dollar strength.
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Wednesday, March 18th, 2009
Today's Fed announcement set off sharp Dollar selling as the Fed said
it would expand its purchases of asset-backed securities and buy $300
billion of US Treasuries over the next six months.
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Tuesday, March 17th, 2009
Lower equities in Europe weakened the Euro and Pound against the
Dollar, though the ZEW economic sentiment index improved. US stocks
rallied, bring back risk appetite and reversing some of the moves seen
overnight. US housing starts surged by 22% in Feb.
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Monday, March 16th, 2009
Equities in Asia and Europe rallied today, continuing the trend of risk
appetite that has boosted the Euro and Pound while weakening the Euro
and Dollar. However after hitting some technical levels and a reversal
in US stocks, the greenback pared some of its earlier losses.
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Friday, March 13th, 2009
Equity markets in Asia and Europe were generally higher helping to
maintain a sense of risk appetite in the markets. That helped boost
higher-yielders at the expense of the Yen and greenback. The Dollar
however was supported by a better than expected trade balance report
that showed the smallest trade gap in 6 years.
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Thursday, March 12th, 2009
The
Swiss Franc fell heavily after the Swiss National Bank cut rates by 25
basis points and said that they would intervene in currency markets to
make sure the Franc does not appreciate further against the Euro. That
sent the Franc plunging against its key rivals. With US stocks up, the
NY session saw risk appetite in other currency pairs.
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Wednesday, March 11th, 2009
The
Dollar fell for a second day against the Euro as the pair establishes
an upward sloping channel. The Pound continued to be sold down against
its key rivals, the greenback, the Euro and the Yen. With investor
sentiment picking up the greenback fell vs the Yen.
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Tuesday, March 10th, 2009
Stocks in Europe and the US rose today, boosting a sense of risk
appetite that gave the Euro strength while pushing down the greenback
and Yen. However, in late NY trading the greenback recovered a good
portion of its losses.
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Monday, March 9th, 2009
The
Pound was pressured heavily, falling 400 pips vs the Dollar, 360 pips
vs the Franc and 200 pips vs the Euro. Traders sold the Pound as a
result of a plan in which the government took control of 77% of Lloyds
Bank. The greenback gained on weaker global stocks.
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Friday, March 6th, 2009
The
greenback fell overnight and extended some losses following a mixed
reaction to the nonfarm payroll jobs report. Us stocks that jumped
higher initially, fell into the red increasing risk aversion and giving
the chance for the Dollar to pare some of its losses.
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Thursday, March 5th, 2009
Both the BOE and ECB cut rates by 50 basis points to 0.5% and 1.5%,
respectively. With equities falling around the world, following a rally
yesterday the theme of the day was risk aversion and gains by the Yen
and Dollar.
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Wednesday, March 4th, 2009
New
fiscal stimulus measures announced by China led to a surge in stocks
around the globe. That helped boost risk appetite, which weakened the
Yen and Dollar. The Aussie managed to recover early losses following
GDP data that showed the economy contracted for the first time in eight
years in the 4th quarter.
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Tuesday, March 3rd, 2009
The
Reserve Bank of Australia held rates steady at 3.25% today, surprising
forecasts that called for at least a 25 basis point cut. That led to a
rally by the Aussie. The Bank of Canada cut rates by 50 basis points,
which pressured the Loonie.
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Monday, March 2nd, 2009
Risk aversion was in play today as two major financial institution on
both sides of the Atlantic, HSBC and AIG, rattled global equities. The
Pound fell through key support vs the Dollar and lost ground against
its other key rivals while the greenback gained from safe haven flows.
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Friday, February 27th, 2009
European equities were down overnight fueling risk aversion that
boosted the Yen and Dollar. US 4th quarter GDP was revised lower in its
second release to show 6.2% decrease. US equities, though down in the
morning recovered, leading to some risk appetite.
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Thursday, February 26th, 2009
The
Dollar was generally lower today vs its main counterparts though it did
gain against the Yen as the Japanese currency continues to be pressured
due to its weak economy. Data from the US was bleak, with jobless
claims, durable goods and new home sales disappointing.
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Wednesday, February 25th, 2009
The
Dollar climbed against the Euro, Pound, and Loonie as risk aversion was
sparked by a very weak new home sales release from the US, along with
falling overnight stocks. The Pound was pressured by its weak economy,
and plunged vs the greenback.
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Tuesday, February 24th, 2009
Today's action saw the Yen sink lower vs its main rivals as the
situation with the Japanese economy is overpowering its safe haven
status during this time of risk aversion. The Euro rallied today vs the
Pound and Dollar following weakness yesterday.
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Monday, February 23rd, 2009
The
overnight session saw risk appetite as the Euro, Pound and Dollar rose
against the Yen on news the US might inject money into Citibank. The
Pound rose as RBS said it would shore up its finances and traders
speculated on a new bank plan. US equities sold off today, stalling
risk appetite.
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Friday, February 20th, 2009
Global stocks sold off today as worries over the financial systems in
Europe and the US pressured risk sentiment. The Yen gained vs the
Dollar, and the greenback saw significant weakness against its other
rivals as well. The Pound lost 400 pips to the Swiss Franc.
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Thursday, February 19th, 2009
The
Yen declined against its major rivals with the Dollar jumping to its
highest level since January 2nd. The Euro rose against the Dollar as
concerns over Eastern European banks eased. The US saw its continuing
jobless claims rise to a record, and PPI was up 0.8% in Jan.
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Wednesday, February 18th, 2009
The
Dollar gained against the Yen, probing the 94 level as a new plan to
try and stem foreclosures was announced by the Obama administration.
The Euro continued falling against its rivals, and the Yen was
pressured by the uptick in risk appetite in later trading.
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Tuesday, February 17th, 2009
The
Euro fell against its major rivals as the rating agency Moody's issues
a report saying it may lower the ratings of several banks with units in
eastarn Europe. That sent stocks south in Europe increasing risk
aversion which boosted the Yen and Dollar.
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Monday, February 16th, 2009
The
Japanese economy, led lower by a 13.9% drop in exports, contracted 3.3%
in the 4th quarter, and was down 12.7% on an annualized basis. Traders
focused on risk aversion though volatility was down because US markets
closed for President's Day.
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Friday, February 13th, 2009
The
Euro-zone showed that the economy contracted 1.5% in the 4th quarter,
with German GDP down 2.1%. The news pressured the Euro against the
Pound and Dollar. The Yen was weaker today, relinquishing its gains
from earlier in the week.
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Thursday, February 12th, 2009
US
retail sales increased, snapping a streak of six consecutive negative
months but total people on unemployment rose to a record high. Markets
experienced further risk aversion overnight, but part of the gains by
the Yen and Dollar were pared in the NY session.
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Wednesday, February 11th, 2009
The
Euro consolidated against the Dollar following yesterday's steep sell
off. The Pound continued falling following the Bank of England's
inflation report. Trade data showed the US deficit shrinking to its
smallest in six years, while the Canadian trade balance fell into
deficit for the first time in more than 30 years.
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Tuesday, February 10th, 2009
Following a speech by Treasury Sec. Geithner US stocks fell sharply,
which brought about risk aversion in currency markets boosting the Yen
and Dollar while higher-yielders were pressured.
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Monday, February 9th, 2009
With little in the way of fundamental news currencies continued their
action from Friday with the Euro gaining on the Dollar and paring
earlier losses to the Yen. Risk appetite surfaced in the European
session as stocks there were up but those gains were capped in NY
trading.
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Friday, February 6th, 2009
The
US economy shed 598K jobs in January and unemployment rose to 7.6%.
Despite the weak release, US equities rallied on prospects of a quick
passage of the US stimulus package. That boosted risk appetite, helping
the Euro and commodity currencies.
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Thursday, February 5th, 2009
The
Pound rose today vs the Dollar and Euro after its central bank cut
rates by 50 basis points to a record low 1%. The ECB meanwhile stood
pat at its current rate of 2%. Traders sold the Euro as they believe
higher rates will keep the Euro-zone economy in recession longer. In
the US jobless claims hit a 26-year high.
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Wednesday, February 4th, 2009
The
Pound rose today as its Services PMI came in better than expected and
stocks in London rallied boosting risk appetite for Sterling. The Euro
was hard hit by weaker retail sales and plummeting currencies on its
borders including Eastern Europe and Russia.
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Tuesday, February 2nd, 2009
The
Reserve Bank of Australia cut rates to a 45-year low, and the
government announced a new fiscal stimulus plan. The Bank of Japan said
it would continue buying shares of financial firms, while the Fed
extended its foreign currency-swap lines by six months.
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Monday, February 2nd, 2009
Manufacturing data from the US and UK rose compared to the record low
levels seen in December, though they remained in sharp contraction.
Overnight, risk aversion boosted the Yen and Dollar, but the second
half of the session saw those gains pared down. The Pound saw
significant moves against it vs the Pound and Dollar.
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Friday, January 30th, 2009
Data from Japan and Europe showed unemployment increasing, while the US
economy shrank 3.8% in the 4th quarter. Risk aversion continued to
boost the Yen and Dollar as traders continue to worry about how deep
and long the global recession will be.
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Thursday, January 29th, 2009
Data from the US which included new home sales plunging to a record
low, a rise in total people on unemployment benefits to a record high
and a steep slide in durable goods orders, brought back a feeling of
the problems facing the US and the globe and increasing a sense of risk
aversion in equity markets.
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Wednesday, January 28th, 2009
The
Fed held rates as expected and said it has bought up large quantities
of agency debt and mortgage backed securities, and was prepared to
purchase longer-term Treasuries. A climb in US equities gave the Dollar
strength vs the Yen and following the Fed the Dollar rose against the
Euro. The RBNZ meanwhile cut rates by 1.5%
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Tuesday, January 27th, 2009
A
rise in Asian stocks continued the theme of risk appetite in the Asian
session, but that was reversed in European trading. The Yen gained on
its rivals, while the Dollar pared its earlier losses to the Euro. The
Pound rose for a second day as concerns about how much was needed to
bailout UK banks eased.
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Monday, January 26th, 2009
An
announcement by Barclays that it would not need further capital
injection thereby diluting its shares, was greeted with strong gains in
European stocks. That brought a wave of risk appetite and the safe
haven currencies, the Yen and Dollar, fell.
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Friday, January 23rd, 2009
The
UK economy contracts by 1.5% in the 4th quarter, which undershot
expectations, and pressured the Pound in today's trading. The Pound
fell to a 23-year low vs the Dollar and a new record low against the
Yen.
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Thursday, January 22nd, 2009
Data from around the world showed Japanese exports falling by a record,
Euro-zone industrial new orders down by a record, and US housing starts
the worst ever. The Yen and Dollar gained overnight on risk aversion.
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Wednesday, January 21st, 2009
The
Pound continued its descent today, hitting its lowest level against the
Greenback since 1985. It did manage to pare some of its losses in later
NY trading. US stocks reversed most of yesterday's fall which helped
the Dollar recover against the Yen.
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Tuesday, January 20th, 2009
The
Pound fell sharply for a second day against the Dollar and Yen as its
banking sector needed a second bailout. The risk aversion spread to the
US which saw equities drop on a steep sell off of financial stocks. The
Dollar gained on the Euro, but fell to the surging Yen.
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Monday, January 19th, 2009
News from the UK of a new round of measures by the Bank of England to
shore up its financial sector spurred a fresh bout of risk aversion.
The Pound fell heavily against the Dollar and Yen, as they were the
main beneficiaries from the slide in European equities.
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Friday, January 16th, 2009
Global equities recovered overnight helping boost the value of the Euro
and weakening the Dollar and Yen. The Pound rose on news the gov't will
set aside money to help those facing foreclosure, while the US Treasury
said it will inject $20 billion into Bank of America.
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Thursday, January 15th, 2009
The
European Central Bank cut interest rates by 50 basis points and
signaled that more cuts may be on the way. The Euro fell against the
Dollar and Pound. Stocks in the US rallied in the late afternoon and
carry trade sentiments picked up overnight and in the NY session.
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Wednesday, January 14th, 2009
Following a rally in risk appetite in the Asian session, steep falls in
European shares brought back risk aversion, sending carry trade pairs
lower. Retail sales data from the US was weak adding to concerns over a
deepening global recession.
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Tuesday, January 13th, 2009
Trade data from around the world showed global trade slowing. The UK,
Japan and Canada saw deteriorating balances, while the US deficit
shrank more thane expected. The Pound was pressured, as were carry
trade pairs, as risk aversion continued in global equities.
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Monday, January 12th, 2009
With global stocks sinking to start the week, the Yen gained on its
main rivals, extending gains seen at the end of last week. Commodity
currencies like the Aussie and Loonie were pressured as oil fell more
than $3 a barrel.
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Friday, January 9th, 2009
The
US released its non-farm payroll report which showed the US economy
shedding 525K jobs and the unemployment rate climbing to 7.2%. Since
this came in line with expectations the Dollar gained on the Euro, but
US stocks fell pressuring the Dollar against the Yen.
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Thursday, January 8th, 2009
The
Yen gained as stocks around the world fell today increasing risk
aversion. Data from Australia and Germany showed exports falling
sharply to end the year, while the situation in the Euro-zone continues
to deteriorate. The Dollar continued losing ahead of its jobs report.
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Wednesday, January 7th, 2009
European stocks fell overnight and a dismal ADP jobs report sunk US
stocks, leading to weakness in the Dollar and strength for the Yen. The
Pound surged to another big gain against the greenback, while commodity
currencies felt the pressure of falling oil prices.
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Tuesday, January 6th, 2009
Data from Europe showed inflation cooling more than expected which
pushed the Euro lower today against the Dollar and Pound. In the US
durable goods and pending home sales plunged while the ISM Non
manufacturing index improved slightly.
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Monday, January 5th, 2009
The
Euro fell almost 400 pips against the Dollar and the Pound as
expectations increased that the ECB will have to cut rates more than
expected as weak data keeps coming in. The Pound rebounded on the BOE's
plan to expand lending to banks, the Dollar saw strength on Obama's
fiscal plan and the Loonie gained on rising oil prices.
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Friday, January 2nd, 2009
On
a day when manufacturing data around the world remained grim,
especially in the Euro-zone and US, traders saw a bout or risk appetite
as equities around the globe and commodities advanced. Today's trading
saw the Aussie and Loonie climb higher while the Yen fell.
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Wednesday, December 31st, 2008
In
conditions of thin liquidity there was some volatile trading with the
main aspect being a fall in Euro pairs as traders squared their
position prior to the end of the year.
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