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EUR-USD rebounded sharply after plumbing an 11-year low at 1.1098 in Asia. The move stalled in the 1.1250-62 region, where renewed selling interest reappeared, despite an above-forecast German Ifo release. A notable short squeeze in EUR-JPY, which interbank and speculative accounts viewed as being ripe for after hefty losses in recent days, had encouraged a similar play in EUR-USD. Read more
The dollar corrected some after posting fresh highs against most currencies. EUR-USD logged a fresh 11-year low at 1.1098, subsequently rebounding above 1.1200. In Greece, the opposition party Syriza won the Sunday election, putting the austerity programs in doubt. Read more
The following economic releases will have a disproportionate impact on trading in the coming week. Read more
Monthly December reports reported in the last week were highlighted by the index of Leading Indicators, up +0.5. Housing starts were up slightly, while housing permits were down slightly. Existing home sales were up. All three housing reports were positive YoY. Read more
The dollar rallied to new highs against the euro in early N.Y. trade on Friday, touching 1.1115 lows before rallying sharply on the back of a solid round of pre-weekend short covering. The pairing hit 1.1289 highs into the London close, before drifting back into 1.1220. Read more
This week, we saw a large amount of policy action on the part of central banks. Let’s start with the Bank of England, where the two board members who had voted for rate increases at the last meeting were now neutral: In the view of all members, the outlook justified maintaining both the current level of Bank Rate and the stock of asset purchases financed by the issuance of central bank reserves. Read more
EUR weakness continued to be the main show in the forex town following the ECB's quant easing announcement yesterday. EUR-USD extended to a new 11-year low of 1.1219 during the European AM, almost a big figure down on the 1.1314 low seen during Asian trade, which was itself 60 pips down on Thursday's New York closing level. Read more
EUR softness, USD firmness continued to be the main theme in forex markets following the ECB's bigger-then-expected quant easing announcement yesterday. EUR-USD clocked an 11-year low of 1.1314 during Asian trade, with rebounds remaining absent. EUR-JPY breached the Oct-16 low on route to making a 26-month low at 133.94. Read more
The dollar soared against the euro in the aftermath of the ECB QE announcement, though posted solid gains across the spectrum of major currencies as well. EUR-USD fell from near 1.1640 to 11-plus year lows of 1.1364 through the session, ending the day just off its worst levels. Read more
