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Recent Posts
- Trade Idea Wrap-up: USD/CHF – Buy at 0.8970
- Weekly Review and Outlook: Risk Recovery Short Lived, Dollar to Extend Rally in a Busy Week ahead
- Trade Idea: EUR/JPY – Sell at 104.50
- EUR/USD Short Term Bear Flag?
- Liquidity Crisis? A Currency Perspective
- GBP/USD Candlesticks and Ichimoku Analysis
- Euro Area: Debt Crisis Set to Continue for Years
- GBP/USD Medium Term Downchannel and the QE Debate
- Trade Idea: USD/CHF – Buy at 0.8710
- Trade Idea: USD/CHF – Buy at 0.8440
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MidDay Archive
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Mid-Day Report: Risk Aversion Back as Greece CDS Makes Record High, Yen Surges
Posted on June 24, 2010 | No CommentsRisk 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... -
Mid-Day Report: Sterling Surges as Sentence Voted for Hike, Canadian Dollar Lower on Retail …
Posted on June 23, 2010 | No CommentsSterling rises sharply today as BoE minutes showed that policy Sentence voted for a 25bps hike in last meeting. The minutes revealed that the Committee voted 7-1 to keep the bank rate unchanged at 0.5%. This was the first time in almost 2 years that... -
Mid-Day Report: Risk Appetite Still Strong But Dollar Pares Loss
Posted on June 21, 2010 | No CommentsRisk appetite remains strong as lifted by China’s announcement of letting Yuan gains. US stocks open higher with DOW up over 100 pts in initial trading, following broad based rally in European and Asian equities. Crude oil remains firm in early US session and trading... -
Mid-Day Report: Sterling Pares Gains Despite Solid Data, Gold Makes New Record High
Posted on June 18, 2010 | No CommentsSterling fails to maintain earlier gains in spite of better than expected data released from UK today. Mortgage approvals rose slightly to 51k in May while public sector net borrowings rose less than expected to GBP 16b in may. Nevertheless, markets hesitated to push sterling... -
Mid-Day Report: Dollar Trying to Recovery after Poor Retail Sales, Sterling Hit Hard by …
Posted on June 11, 2010 | No CommentsDollar and yen are attempting a recovery in early US session after much worse than expected retail sales data from US. Headline sales dropped -1.2% in May while ex-auto sales dropped -1.1%. Among major currencies, Sterling was hardest hit, dragged down by worse than expected... -
Mid-Day Report: Confidence Supported by China Data, Dollar and Yen Weaken
Posted on June 9, 2010 | No CommentsInvestors confidence continue to be supported by rumor or strong data from China. Reuters, quoting 3 unidentified persons, said that China’s exports expanded +50% y/y in May and new loans reached +RMB 630B, exceeding consensus forecasts of RMB 600B. China stocks rose the most in... -
Mid-Day Report: Sterling Soldoff after Fitch Comments on Deficit
Posted on June 8, 2010 | No CommentsSterling was sharply soldoff earlier today after Fitch’s comment on UK’s fiscal deficit. UK stocks also led European equities lower. Flight to safety was the main movement in financial markets where we saw EUR/CHF took another dive and breached 1.38 level. On the other hand,... -
Mid-Day Report: Sentiments Stabilize as Stocks Recover, Canadian Dollar Leads Rebound
Posted on June 7, 2010 | No CommentsMarket sentiments stabilized today after Hungary government said there was no danger of default and pledged to stick to the budget deficit goal approved by creditors. In order to meet the 3.8% deficit target 2010, the hungarian government might launch a three-year radical tax-cut plan... -
Mid-Day Report: EUR/USD Heading to 1.2 after Non-Farm Payroll Disappointment, EUR/CHF Broke 1.4
Posted on June 4, 2010 | No CommentsDollar and yen surge sharply in early US session after disappointment from Non-Farm Payroll report. US job market expanded by 431k only in May, much lower than expectation of 500k. More importantly, taking out 411k. Unemployment rate dropped from 9.9% to 9.7%. Canadian data showed...