The latest BRC-KPMG retail sales data for the UK shows very modest growth.
I had a long chat last night with an asset manager who spends much of his time deliberating over what currencies he should be holding. His is a very macro view of the world and whilst he will adjust his … Continue reading
Quite a bullish short-term outlook here with the sharp spike higher putting bulls in control for now. Resistance levels around .9910/25 didn’t provide any brake to the momentum and I would expect these levels to now provide initial support. The … Continue reading
Large option-related stops reported below 75.90, 75.75 and 75.50 Barriers at latter two levels, with strong bids ahead of each Corporate sell orders starting at 77.10 One interbank dealer tells me that this pair will trade at 70.00 before it … Continue reading
No major market moving economic data today in Asia so we will rely on stockmarket sentiment and statements regarding the EZ debt situation for any volatility. The Tokyo market will be open again after a long weekend break.
The overnight high at 1.3698 did briefly spike through some important resistance levels but given that liquidity was poor, I would still consider these levels to be relevant. The 38.2% retracement of 1.4540/1.3145 is at 1.3680 and there is a … Continue reading
The market was obviously quite long of the USD judging by the moves we witnessed in Europe overnight. The EUR/USD rally started during Asia and then gathered pace as the session progressed, topping out just shy of 1.3700. AUD/USD also … Continue reading
Euro’s largest one-day gain since July 2010 ECB’s Nowotny: Growth Slowdown Is An “Alarming Development” BOE’s Miles: Q4 GDP could be flat Slovakia fails to ratify EFSF changes, talks to continue Asmussen: favors broad package including recapitalization German parliament recommends … Continue reading
Massive gains in US stocks, accelerating into the close. S&P 500 up 3.4% to 1194, just shy of Sept. 26 high Dow up 3% to 11432 Nasdaq up 3.5% to 2566