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The impetus for FX markets came from the BoE and ECB rate decisions. Both banks left policy unchanged, but decided to move to forward policy guidance. EUR and GBP fell sharply to carve out five week lows against the USD as it benefited from a default bid. Read more
FX markets are in a holding pattern ahead of today's policy outcome from the BoE and ECB. Both central banks are expected to keep policy unchanged, but the ECB is likely to be more of a market mover amid the accompanying press conference from Draghi. He is likely to reiterate the ECB's accommodative policy stance, which may be timely given the rising eurozone risks this week. Read more
FX markets are in a holding pattern ahead of today's policy outcome from the BoE and ECB. Both central banks are expected to keep policy unchanged, but the ECB is likely to be more of a market mover amid the accompanying press conference from Draghi. He is likely to reiterate the ECB's accommodative policy stance, which may be timely given the rising eurozone risks this week. Read more
The dollar was softer in a holiday shortened session for many, losing ground despite the geopolitical backdrop. EUR-USD moved up over 1.3030 from 1.2950, largely as pre-ECB short covering stepped in. U.S. desks, who will be largely absent on Thursday due to Independence Day, were active euro buyers through the morning. Read more
USD, JPY and CHF were boosted by deleveraging as equity markets plunged. Negative influences on Tuesday fueled a flight to safety ahead of the ECB policy decision on Thursday and Friday's NFP data. There were concerns over a regime change in Egypt, which lifted oil to 14-month highs over $102 bbl today. Read more
The dollar maintained a bid tone as equity markets experienced broad losses. Negative influences on Tuesday fueled a flight to safety ahead of the ECB policy decision on Thursday and Friday's NFP data. There were concerns over a regime change in Egypt, which lifted oil into $100 bbl. Read more
The dollar firmed up in light N.Y. dealings on Tuesday, though ahead of risk events such as ADP jobs data on Wednesday, and the ECB meeting on Thursday, FX dealings were on the quiet side. In-line May factory orders helped the greenback to a degree, while we suspect the possibility of a military coup in Egypt supported the dollar as well. Read more
The European morning saw light activity as larger flows were kept to the minimum ahead of key event risks later this week. The risk backdrop was positive in Asia, but in Europe the tone was mixed, which dampened speculative flows. Early dollar selling fizzled out, which saw EUR back away from 1.3080 to the 1.3020 area. Read more
Consolidation was noted in the FX majors in relatively quiet trade. Larger flows were minimal ahead key event risks later this week, which include the ECB policy meeting and Friday's NFP data. Sentiment was positive early on following yesterday's U.S. Read more
The dollar ended mostly lower in light N.Y. trade on Monday, though ranges overall were relatively narrow. A better U.S. manufacturing ISM outcome supported the dollar and equities initially, but USD gains were shallow and short lived. EUR-USD found good support ahead of 1.3000 before turning moderately higher, while USD-JPY fell short of the 100.00 mark, and reversed to 99.65 in afternoon dealings. Read more
