Action Insight (Market Overview)

Sterling Steady as BoE Left Rates Unchanged, Expand QE by GBP 50b

Thu, 09 Feb 2012 12:16:38 GMT

Sterling remains steady after BoE did what markets expected, keeping rates unchanged at 0.5% and raised the size of the asset purchase program by GBP 50b to GBP 325b as "more likely than not that inflation would undershoot the 2% target in the medium term". In the accompanying statement, the

Daily Report: Euro Rises as Venizelos Heads to Brussels, ECB and BoE Watched

Thu, 09 Feb 2012 06:48:43 GMT

Euro manages to extend recent rally against dollar and yen even though the Greek situation remains unresolved. Greek officials sounded optimistic as a statement from Prime Minister Papademos said that political leaders have "agreed on all the points of the program with the exception of one which requires further elaboration

US Session: Orders and Options Watch

Wed, 08 Feb 2012 13:59:43 GMT

EUR: The single currency has continued to trade with a firm undertone in part due to persistent buying by Middle East names and bids from them are still noted at 1.3240-50 with some stops placed below 1.3230 but more buying interest should emerge around 1.3190-00 with more stops seen below

Mid-Day Report: Greece Optimism Continues to Lift Euro, Political Leaders to Meet Today

Wed, 08 Feb 2012 12:57:51 GMT

Euro remains firm against dollar on optimism that somehow, there would be a deal in some sort to help Greece avoid disorderly default in March even though the progress has been extremely slow and unsatisfactory. Greek Prime Minister Papademos is expected to meet with three party leaders today finally to

European Session: Orders and Options Watch

Wed, 08 Feb 2012 06:55:51 GMT

EUR: The single currency rallied yesterday in part due to the late surge in EUR/JPY (rose above 102.00) in part due to optimism of an agreement between Greece and the Troika, stops above 1.3220 and 1.3235-40 were triggered and offers at 1.3275-85 were also cleared, stops above 1.3300 option barrier

Daily Report: Euro Firm on Greek Hope

Wed, 08 Feb 2012 06:53:11 GMT

European majors remain generally firm in Asia today after rallying broadly on Greek speculations. There were rumors that political leaders were set to agree on the austerity measures yesterday, but such meeting with Prime Minister Papademos was delayed to today with one leader blaming the delay to 'missing paper'. Papademos

European Majors Jump on Greek Austerity Deal Near. A Look at EUR/USD, GBP/USD, EUR/JPY, GBP/JPY

Tue, 07 Feb 2012 18:43:00 GMT

European majors jumps sharply in US session on talk that Greek government is finally drafting a document on austerity measures for approval from political leaders, which is seen as one of the important steps to secure the EUR 130b second bailout from EU/IMF to avoid disorderly default in March. It's

US Session: Orders and Options Watch

Tue, 07 Feb 2012 13:58:39 GMT

JPY: Dollar edged higher today to 76.87 but indicated offers from exporters remain at 76.90-00 with mixture of offers and stops seen at 77.10-20 and more selling interest from same parties are lined up at 77.50-60. On the downside, mixture of bids and stops remains at 76.45-50 and more buying

Mid-Day Report: Japanese Yen and Swiss Franc Mildly Lower on Intervention Talks

Tue, 07 Feb 2012 13:35:06 GMT

The Japanese yen weakens mildly in otherwise dull market today. It's reported that government data released today showed Japan as carried out secret intervention in November. A total of JPY 1.02T was sold against US dollar in the first week of November. The last public intervention was on October 31,

European Session: Orders and Options Watch

Tue, 07 Feb 2012 07:04:02 GMT

GBP: The British pound also rebounded in New York in tandem with euro and aussie but offers from funds and UK clearer capped the pair at 1.5841 and more selling interests from same names are noted at 1.5860-70 with stops building up above there and also 1.5890-00. On the downside,

Daily Report: Aussie Soars after RBA Pause, Euro Soft on Greece

Tue, 07 Feb 2012 06:19:21 GMT

Aussie jumps sharply today and hit new record high against Euro after RBA unexpected left rates unchanged at 4.25%. The RBA unexpectedly left the cash rate unchanged at 4.25% in February, in contrast with consensus of a rate cut by -25 bps. The decision, in spite of growing uncertainty in

US Session: Orders and Options Watch

Mon, 06 Feb 2012 14:00:08 GMT

EUR: The single currency has remained under pressure and stops below 1.3050-60 were triggered, mixture of bids and stops at 1.3020-30 is now in focus, however, more buying interests from Middle East, Asian Cbs and U.S. investment banks are likely to emerge further out at 1.3000 (stops below) and also

Mid-Day Report: Sentiments Weighed Down by Greece

Mon, 06 Feb 2012 13:36:32 GMT

Global market sentiments are weighed down by worry that Greece might not be able to secure the EUR 130b bailout package from EU/IMF and would face disorderly default in March. Greek leaders gather today again after failing to complete the agreement on details of the austerity measures on Sunday despite

European Session: Orders and Options Watch

Mon, 06 Feb 2012 07:15:33 GMT

EUR: The single currency slipped again after Friday's late rebound to 1.3168 and stops below 1.3060 were triggered, more stops are reported below 1.3050 and also 1.3020 with mixture of bids and stops located further out at 1.3000. On the upside, offers from various parties are tipped at 1.3100, 1.3140-50

Daily Report: Euro Mildly Lower as Focus Turned Back to Greece

Mon, 06 Feb 2012 06:41:56 GMT

Euro is mildly lower as the week starts as focus turned from economic data back to the situation in Greece. A pressing concern is the agreement on Troika's term for austerity. Greek coalition leaders failed to agree on the details of the terms demanded by international creditors after a five

Weekly Review and Outlook: Risk Rally Extended on Global Economic Data, Aussie and Kiwi Gained Most

Sat, 04 Feb 2012 10:09:33 GMT

Risk markets' pull back was rather shallow last week with help of solid global economic data and indeed, major equity indices finally resumed recent rise after much stronger than expected employment data from US. While DOW is still limited by an intraday high made last year at 12876, the close

US Session: Orders and Options Watch

Fri, 03 Feb 2012 14:08:31 GMT

JPY: The greenback quickly jumped after the release of stronger-than-expected U.S. job data, both nonfarm payrolls number and unemployment rate exceeded analysts’ anticipation (NFP at 243K vs forecast of 150K and jobless rate at 8.3% vs market consensus of 8.5%), stops above 76.40-50 were triggered but more stops are reported

Mid-Day Report: NFP Rose 243k, Unemployment Dropped to 8.3%, Dollar Mixed in Initial Reaction

Fri, 03 Feb 2012 13:45:30 GMT

Non-farm payroll report showed much larger than expected expansion in US job market by 243k in January, versus consensus of 150k. That's the beset number in nine months and even better than December's impressive 203k, revised up from 200k. Unemployment rate dropped again for the fifth straight month to 8.3%,

European Session: Orders and Options Watch

Fri, 03 Feb 2012 06:50:32 GMT

EUR: Despite rebounding from yesterday's low of 1.3085, the single currency ran into indicated offers from Asian CBs and sovereign names at 1.3180-90 and retreated again as traders avoid taking big positions ahead of U.S. NFP later today, so further choppy consolidation would take place ahead of U.S. opening. At

Daily Report: Markets Tread Water ahead of NFP

Fri, 03 Feb 2012 06:12:49 GMT

Markets are trading in tight range as traders await the employment data from US today. Economist expect the data to show 150k job growth in January, down from December's 200k. Unemployment rate is expected to be unchanged at 8.5%. Looking at the leading indicators. ADP employment showed 170k growth in