AUD/JPY is the main barometer of risk during the Asian timezone and it has opened 40 pips lower in early interbank trade. AUD/USD has broken below technical support at .8690 and the USD/JPY close on Friday below the important 87.00 level is … Continue reading
A source has recently told me there’s apparently an article in the Swiss newspaper Neu Zuricher Zeitung suggesting SNB’s Hildebrand may lose his job over SNB’s intervention related losses. The source feels if its true (he’s not conversant with how … Continue reading
EUR/JPY little changed on day, presently at 113.05. Talk of stops above 113.50 before decent-sized option-related sell orders around 113.75.
Presently at 1.3475 from North Americsn close Tuesday down around 1.3415, with real money said to have been notable buyers in recent trade.
Dealers say that interest has been very limited this morning with most citing the World Cup final as the main reason. The JPY might now be adversely affected by the election result as the session progresses; President Sarkozy of France … Continue reading
AEP is always looking for something bearish to say about the EUR but this story is one that we need to remain aware of. Challenges are on-going in the German constitutional court in Karlsuhe against Germany’s participation in any bail-outs … Continue reading
The ill-advised attempts by the SNB to draw lines in the sand for the EUR/CHF have come at a heavy cost. The FT is reporting that total losses are close to CHF10 billion (although I’m presuming that the losses have … Continue reading
against expected +0.1 Y/Y came in at 0.5 against expectation of 1.0 USD/CHF trades 34 pips off the low at 1.0595 EUR/CHF trades 1.3318 after an earlier low of 1.3282 Swiss Fx reserves dropped CHF 6.3bn after the SNB dropped … Continue reading
The Nikkei is now 1.6% lower and the S&P futures are 1% lower. The FX ‘risk’ trades like AUD/JPY and EUR/CHF are heavy and not really bouncing so far.
EUR/JPY has been relatively stable in recent weeks which in my view is a sign that it is set for further falls. Any pair that consolidates and starts to feel comfortable close to its lows is surely headed lower eventually. … Continue reading