Forex Gates :: Forex Trading Brokers , managers and trading platforums

USD selling continued for the majority of yesterday’s session. EM & commodity currencies have been a primary recipient to inflows. USDTRY sank to 1.7862, while USDRUB gapped lower at the open and proceed to fall to 30.1811. The impetus seems to be the residual effect of the FOMC meeting where Mr. Bernanke announced it would be nearly 3 years before hikes (he also indicated that selling of…

USD was sold in Asian session as the FOMC sounded very dovish in their pledge to hold rates at near zero “at least through late 2014”. EURUSD climbed to 1.3134 while AUDUSD ran to 1.0642, on broad USD selling. In addition to the commitment to low rates the Fed also committed to explicit inflation targeting for the first time. Core personal consumption expenditure will be now steered towards 2.0%…

The big mover in Asian session was the AUD, as a weaker headline CPI reading of 0.0% q/q vs. 0.2% exp pushed AUDUSD briefly to 1.0441. This read would put the year-on-year number slightly above mid-point of RBA’s 2-3% inflation band and forces traders to slightly rethink rate cut expectations. The OIS market is pricing in cuts of roughly 16bp for the February meeting. Given the contraction in…

In Asia session, liquidity was thin and flow were light as locals celebrated the second day of the Chinese New Year. BoJ unanimously keeps rate unchanged at 0-0.1% and asset-purchase fund left at JPY20 trn as was universally expected. In addition, monthly JGB purchases were held at JPY1.8 trn. EURUSD took a hit, falling to 1.2988 on a WSJ article and comment from Juncker ran on the wire. The WSJ…

The first trading day in the year of the Dragon was unremarkable. With much of Asia closed fo the holidays trading was subdued. FX market positioning seems to indicate that traders are bracing for a significant pullback in risk appetite. The catalyst looks to be the disappointment created by the Greek debt swap plan. Whatever the outcome, it’s bound to come up short. In the short term, we suspect…

Lack of fresh news prior to the Lunar New Year had FX markets trending. Gains in regional equities across Asian reflected the follow through from Wall Street solid performance. EURUSD contracted into a narrow range narrow range from 1.2954 to 1.2974 while AUDUSD solid off mildly from 1.2986 to 1.2918. On the data front, Australian export and import prices came in at 1.5% and 2.5% q/q. Rumors…

Risk appetite remains firm in Asia session with decent USD supply pushing up risk correlated FX trades. EURUSD was able to rally to 1.2868 on growing optimism over the latest Greek PSI proposal. Financial Times reports that rather than having a fixed coupon, that had been a barrier in discussions, the strategy is to provide a flexible coupon. The latest headlines is calling for a coupon starting…

Asian session was subdued with G10 flows unexceptional. EURUSD bounced around 1.2752 to 1.2807 while AUDUSD made a steady climb to 1.0413 (short of 200d ma) before dropping sharply. Traders will focus on Greek PSI issue as talks are expected to resume today. China headlines once against dominated a quiet session a china official stated support of smaller banks in targeting RRR for Guizhou banks….

It was risk-on in Asian session after a very gloomy 24hrs. The catalyst was the strong China Q4 GDP print of 8.9% vs. 8.7% expected. China retails sales also surprised to the upside with a print of 18.1% vs. 17.2% y/y exp. Today’s good China GDP report should provide further support to the argument for a “soft landing” of the Chinese economy (although the print was at a low). We continue to…

On Friday, what started out as a good day for the risky assets & EUR quickly became an outright collapse. Fitch has been very chatty in recent days and the prospect of an S&P downgrades for Eurozone sovereign had been lingering over the markets for a while. First came a disappointing Italian bond auction. Then speculation that Greece was near to announcing critical restructuring of Greek…