Market dwells on hopes of a weekend rescue plot for Greece

The tremendous weight of pressure thrust upon Greece this week and the resultant broad euro currency weakness has electrified market talk that a weekend intervention is a distinct possibility. The euro has rebounded alongside a strong rally for Eurozone stock markets and shares in Greek banking stocks as the market hopes to get a glimpse [...]

FOMC Minutes Broadly Predictable

Forex News and Events: The USD continues to make headway, as the optimism around the US grows and concerns of the Greek agreement erodes confidence in the EUR. However, lack of substantive drivers makes us expect a slight pullback in USD strength near term. Yesterday’s release of the FOMC meeting minutes showed that the Fed [...]

Global manufacturing gains power risk appetite

Risk appetite stepped up a notch to start the new financial quarter with investors selling dollars for riskier propositions such as higher-yielding currencies and equities. A raft of manufacturing survey evidence around the world leaves investors with a single-minded assurance that government and central bank policies have worked their way through to recovery. For now [...]

Forex: The Risk Today

The Risk Today: EurUsd The confluence of good European data, shockingly negative ADP payrolls and suspected quarter-end buying interest fuelled EURUSD higher yesterday; rallying relentlessly off the 1.3384 lows to 1.3561 highs so far. With the suitcases packed and planes booked for Easter holidays, it’s likely that liquidity will start thinning out acutely going into [...]

Markets Focused on NFP Debate

Forex News and Events: Markets are clearly digesting / debating yesterday’s surprise ADP report and correlation to Friday’s NFP. Some very well respected banks are now rapidly backpedalling on what already seemed boisterous forecasts. The median forecast for NFP on Bloomberg has dropped to 184k from 190k, and we suspect if there was more time [...]

Afternoon Forex Overview

Previous session overview The dollar extended its earlier weakness against most currencies Wednesday morning after the ADP private sector jobs report for March fell dramatically short of expectations. The euro added to earlier gains against the dollar and broke through the USD1.3500 level to register a session high at USD1.3518, after news that private-sector jobs [...]

Solid Aussie foundation crumbles

Last week we heard carbon-copy statements from the Reserve Bank of Australia’s two leading officials who tried to steer the conversation about monetary policy towards a “normal” interest rate setting. As investors listened and as they observed fresh domestic and regional data indicative of ongoing above normal growth, they once again clung onto the coat [...]

Afternoon Forex Overview

Previous session overview The euro is up slightly but has surrendered earlier gains after Greek bonds came under selling pressure Tuesday morning, bringing market focus back to the fiscal issues still facing Greece. The British pound rallied after some strong economic data, and commodity-linked currencies also advanced against the dollar after price gains for several [...]

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