Research
Markets Lack Conviction- Franc Bid Higher as Kiwi Slides
The Swiss franc outperformed all its major counterparts as markets drifted lower at the open. The dollar has remained well supported as investors remain unconvinced about an EU-Greek deal.
U.S. Dollar Momentum Builds as Greek Concerns Linger
Despite the €130 billion bailout agreed upon yesterday for Greece, market participants are questioning the ability of the Greek government to fully implement the necessary measures. Earlier today, Fitch Ratings cut Greece’s long-term ratings to C from CCC, a sign that a default is indeed coming in the next few weeks.
Euro Setting Up For Major Decline, Sterling Poised For Correction
Renewed fears surrounding sovereign debt crisis dragged on risk-taking behavior and the flight to safety may gather pace during the North American trade as European policy makers struggle to restore investor confidence.
AUDUSD and NZDUSD Near Make or Break Pivot Levels
10565 and 8210 are trend defining levels for the AUDUSD and NZDUSD. Weakness below these levels would invalidate the bullish bias for the remainder of February.
USD/JPY Climbs Above 80; Targets 80.50 then 81.50
There is a break above the 80 handle and the USD/JPY continues to rally sharply since bouncing off 76.00. The daily chart shows a very bullish market the RSI pushes above 70 and 80. Although there it suggests near-term overbought condition, it also suggests strength in the break from recent bottoming process, and is a sign of bullish momentum in the medium term…
Yen Continues to Extend Declines; Sterling Pressured by Dovish Minutes
The Yen has been under some intense pressure in recent sessions and continues to ignore oversold readings, while the Pound has also taken a hit on a surprising 7-2 split in BOE Minutes…
Greek Saga and Uncertianty Continue; Yen Emerges as Major Story
With all of the focus on the Eurozone in recent months, traders might be forgetting to look elsewhere where the Yen has begun to sell off aggressively…
EUR/NOK Attempting to Base After Testing Key Psychological Support
A daily overview of technical developments in the regional currencies. Take a look inside for the latest scoop on the Norwegian Krone and Swedish Krona.
Euro: Why is the Market So Reserved after Greece’s Bailout?
We finally have it: the Euro-area ministers have agreed to the additional austerity measures necessary from Greece to tap the second rescue program. Then why hasn’t the euro surged forward?
S&P 500 Chart Setup Calls for Losses, Hinting US Dollar to Recover
S&P 500 technical positioning calls for a bearish reversal below the 2011 yearly high, hinting the safe-haven US Dollar is set to recover amid risk aversion.
GBPUSD_Trading_the_Bank_of_England_Minutes
The Bank of England Minutes presents the biggest event risk for the British Pound and the policy statement may prop up the sterling should the central bank talk down speculation for additional monetary support.
Greece Gets Bailout but EURUSD Fails to Post Meaningful Gains
Euro-zone finance ministers agreed on a €130 bailout fund for Greece early on Tuesday, though given the reaction by the Euro and other risk-correlated assets, it appears market participants remain skeptical. After all is said and done, by no means is a Greek default off the table.
Euro Optimism Fizzles Amid Weakening Outlook, Sterling Capped
Market sentiment weakened on Tuesday even as the EU agreed to release the EUR 130B bailout package for Greece, and the mixed reaction to the debt deal suggests that more needs to be done as the fundamental outlook for the euro-area remains bleak.
USD/CHF – Double Bottom Versus Expanded Flat Scenarios
After breaking above 0.9262 resistance, USD/CHF failed to extend beyond 0.93. From 0.93, the market slid to 0.9082, just below the previous consolidation support of 0.9088. Here we are seeing a bullish divergence. And even though the second low dipped lower, the 2 attempts can be seen as a double bottom
US Dollar, Yen Recovery Expected as Global Slowdown Fears Return
The US Dollar and Japanese Yen are likely to recover on safe-haven demand as worries about a slowdown in global economic growth return to the forefront.
Greek Bailout Deal Fails to Bring Fireworks – What Gives?
Currency markets saw a broadly lackluster response to the emergence of a final deal on the second Greek bailout. We expect renewed risk aversion will follow.
Euro Finds Additional Bids As Terms of Greek Deal Disclosed
Initial reactions to the Greek bailout agreement are positive, albeit marginally so, and we are keeping a close eye on EUR/USD 1.3325…
USD/NOK Testing Key Support by 200-Day SMA; Look to Buy
A daily overview of technical developments in the regional currencies. Take a look inside for the latest scoop on the Norwegian Krone and Swedish Krona.
Dollar Activity Level Drops to Lowest Level Since Holiday Period
With a gap higher on the open of the week for risk appetite, the safe haven dollar would suffer its own drop to start trading Monday. That said, follow through was notably limited on both fronts.
S&P 500 Looks for Direction Near 2011 High, US Dollar Treading Water
The S&P 500 remains perched near the 2011 yearly high waiting for clear directional cues while the US Dollar is treading water below Fibonacci resistance.
