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Mid-Day Report: Dollar Extends Recovery While Yen Rebounds

admin — Tue, 13 Jul 2010 05:51:27 +0000

Dollar’s recovery extends further in early US session trading above 84 level. As we’ve pointed before, the greenback has just got some support from an important medium term trend line. Current development indicates that dollar is gathering some momentum for a sizeable rebound at least and we would see the View full post on Action Insight (All Reports)

Mid-Day Report: Canadian Dollar Soars on Stellar Job Report

admin — Fri, 09 Jul 2010 23:25:43 +0000

Canadian dollar soars in early US session after release of much stronger than expected employment data. The job market in Canada added 93.2k jobs in June, more than four times expectation of 20k. Unemployment rate dropped from 8.1% to 7.9%, lowest level since January 2009. Also, note that the Canadian View full post on Action Insight (All Reports)

Mid-Day Report: Swiss Franc Lower on Weak CPI, Dollar Soft on Risk Appetite

admin — Wed, 07 Jul 2010 00:39:21 +0000

Swiss Franc is mildly lower today after consumer inflation report. CPI in June dropped -0.4% mom, rose 0.5% yoy versus consensus of -0.1% mom, 1.0% yoy. Recent strength in Swiss Franc was driven by SNB’s message of disappearing deflation risk, which led to exit of intervention. However, SNB has also View full post on Action Insight (All Reports)

Mid-Day Report: Euro Extends Rally as NFP Risk Cleared

admin — Fri, 02 Jul 2010 14:42:29 +0000

Euro extends rally against dollar in early US session as non-farm payroll risk is cleared. Job report in US showed -125k contraction in June, worse than but not far from expectation of -110k. Unemployment rate unexpectedly dropped from 9.7% to 9.5% comparing to expectation of 0.8%. The data had little View full post on Action Insight (All Reports)

Mid-Day Report: Euro Rebounds on ECB Six Days Loan, USD/JPY Broke 88

admin — Thu, 01 Jul 2010 15:10:34 +0000

Euro rebounds strongly today on news that ECB is going to grant 78 banks EUR 111.2b of funds for six days to assist them in coping with expiry of the 12 month loan which totals EUR 442b. The announcement overshadowed downgrade risk of Spain and helped Euro extends its rebound. View full post on Action Insight (All Reports)

Mid-Day Report: Euro Rebounds after Positive ECB Tender But Lost Momentum after Disappointing ADP

admin — Wed, 30 Jun 2010 15:39:45 +0000

Euro recovered strongly earlier today after ECB said that EUR 131.9b loan will be provided to banks in the three-month tender, less than half of markets estimate of EUR 300b. The lower than expected amount was viewed as an encouraging sign that banks in Europe are not that desperate in View full post on Action Insight (All Reports)

Mid-Day Report: Yen Maintains Gain as Sentiments Weight Down by Worry on China Growth and …

admin — Tue, 29 Jun 2010 16:06:54 +0000

Market sentiments continue to be weighed down by worry on China growth and Eurozone bank liquidity. European stocks are broadly lower with major indices down over -2% at the time of writing. Japanese yen is the major winner today and rose over 2.54% against Aussie and Kiwi. Dollar managed to View full post on Action Insight (All Reports)

Mid-Day Report: Swissy Franc Makes New Record High against Euro, Quiet Elsewhere

admin — Mon, 28 Jun 2010 16:39:33 +0000

Markets are generally quiet today except that Swissy Franc is lifted by comments from SNB board member Jean-Pierre Danthine and jumped to new record high against Euro. Danthine echoed recent SNB comments that "deflationary trends have practically disappeared." Also, he said that Swiss exports had proven to be robust despite View full post on Action Insight (All Reports)

Mid-Day Report: Markets in Consolidation, Canadian Dollar Weak

admin — Fri, 25 Jun 2010 18:07:52 +0000

Markets are generally staying in tight range in early US session. US GDP growth for Q1 was revised lower from 3.0% to 2.7% annualized but triggered little reaction to markets. Yuan was the major topic today as it rose to record high just ahead of G20 meeting. Other data released View full post on Action Insight (All Reports)

Mid-Day Report: Risk Aversion Back as Greece CDS Makes Record High, Yen Surges

admin — Thu, 24 Jun 2010 18:28:46 +0000

Risk aversion comes back to dominate the markets today as Greece’s five-year sovereign credit default swaps jumped to new record high above 970 basis point today. Japanese yen is sharply higher with EUR/JPY breaks 110 level while USD/JPY also breaches 90 level. Dollar is mildly higher against other major currencies View full post on Action Insight (All Reports)