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A subdued start to 2012. FX markets were relatively well behaved on the first trading day of the new year. With many Asian regional indices closed, price action and news flows were limited. The ultra thin flow did wreak havoc on JPY with pre holiday liquidations pushing USDJPY below 77.00 and this in turn sending [...]

It seems only fitting that to kick off the last trading day of the year FX markets were just drifting. EURUSD traded down from 1.2964 to 1.2928 with little conviction in thin volume. Gold which took a pounding all week, crawled off the $1522.00 floor to $1563.57. Asian regional indices were higher with Shanghai +1.19% [...]

Risk appetite remains under pressure as headlines from the Middle East, general unease around growth and rising European peripheral yields have kept risk seekers sidelined. This renewed bout of risk aversion comes on the heels of yesterdays sizable sell off, with the S&P dropping -1.25% on the day EURUSD briefly traded through 1.2900, dragging EURJPY [...]

Another slow trading day with thin volumes, but at least CNBC Europe provided live coverage, unlike Monday. As the day progressed, risk appetite slowly eased out of the FX market. Equity indices had a mixed morning with shanghai composite posting marginal 0.18% gain and the Hang Seng dropped -0.69%. General uncertainty is still lingering, despite [...]

Trading remains subdued as the holiday season has fully entrenched the market psyche. With headline news absent and scheduled economic data 2nd tier at best, price action has lacked any directional conviction. What movement we did see, was a general movement toward risk-off fashion. FX flows were extremely light in Asian sessions, as the EURUSD [...]

As was expected, FX markets are drifting with no real conviction as news flow out of Asia has basically stopped. Regional equities are mixed in choppy trade amid unenthusiastic volumes with the Nikkei rising 1.1%, the Kospi dropping 0.5%, the Sensex up 1.1%, the Shanghai Composite down -0.67%. With European, UK and US markets closed today [...]

Trading remains light ahead of the holiday session but risk appetite has gained mildly. Debate still is raging over Wednesday 3yr LTRO, with 523 banks participating in the tender, will significantly decrease the banking sector’s liquidity risk. That being said, we are unconvinced with the belief that the operation will ease the debt crisis too, [...]

Eurozone sentiment is never elevated for long these days, and that was especially true yesterday during the ECB’s long-term refinancing operation (LTRO). The ECB was offering 36 months loans at this tender, and allotted a whopping EUR 490bn – far more that the consensus estimates of EUR250-350bn. The operation was seen as an opportunity for [...]

Risk correlated FX trade were moderately supported as positive news flow trickled in. A solid Spanish bill auction and a stronger-than-expected result from Germany’s December Ifo helped risk sentiment. As a result, European sovereign yields and CDS prices contracted slightly. EURUSD was able to regain some lost ground climbing to 1.3128 while AUDUSD rose to [...]

FX markets were very quiet yesterday with closes to zero data or news stories to spark any kind of directional volatility. Without any real drivers, FX pairs just bounced around with flows on the light side. Overnight, EURUSD ranged between 1.2994 and 1.3020 for most of the session while AUDUSD roamed around 1.3010 handle. News [...]