Latest trading commentaries...
Fed policy-spat triggers risk aversion
18 August 2011, Michael Derks, FxPro
Both equities and commodities are under some real pressure today as both the growing policy-spat within the FOMC and doubts about the growth outlook come into sharper focus. The DAX was down more than 4% at one stage, the FTSE 100 has lost 2.0%, and the oil price has fallen by more than 1%...
Another brick on the rail track
18 August 2011, Simon Denham, Capital Spreads
The numbers out yesterday gave another brick on the rail track for those waiting for the ‘engine for growth’ to chunter into the platform. The Treasury has yet again downgraded the prospects for the near to medium term but (to be fair) this appears to have little to do with the government’s plan A...
Choppy markets remain
18 August 2011, Mark O'Sullivan, Currencies Direct
In what has been a reverse of the overnight session, the Greenback continues to recover lost ground with EUR/USD back on its lows and AUD/USD down to 1.0480. Equities are falling further led by Seoul down 2.6%, Taipei down 2.0%, Sydney and Tokyo just over 1.0%.
Growth concerns weigh on the Aussie
18 August 2011, Michael Derks, FxPro
The Aussie is back under 1.05 this morning after briefly penetrating the 1.06 level in yesterday’s New York trading session. One of the explanations for the softness overnight was the announcement by both Morgan Stanley and Deutsche Bank that...
Major shift in voting pattern seen from the MPC minutes
18 August 2011, Richard Driver, CaxtonFX
Yesterday’s MPC minutes revealed a major shift in the voting pattern; the last two remaining hawks (Weale and Bean) joined the dovish camp, voting to keep interest rates on hold at 0.5%. UK unemployment data was also weak, but sterling had a remarkably strong day regardless...
More punishment planned for EU banks
18 August 2011, Mark Deans, Moneycorp
On both sides of the Channel the knives are out for miscreants. Zero tolerance is the new Human Rights. A 53-year-old, single grandmother-of-three was given seven years in jail for failing to leave a tip when she fled from looters who were approaching the plush McDonalds restaurant where she was enjoying a luxury afternoon tea...
Another bond conundrum
18 August 2011, Michael Derks, FxPro
For those who spend sleepless nights fretting about the sustainability of the massive sovereign debts amongst the largest economies of the world, it must seem rather incongruous that bond yields are plunging to new record lows at the same time...
Euro touches near one month highs against the dollar
18 August 2011, Mark Bolsom, Travelex
The euro touched near one month highs against the dollar yesterday helping to lift sterling to three month highs against the US dollar despite the weaker than expected labour statistics and dovish BoE minutes...
Asian forex trade looks for focus with SNB out the way
18 August 2011, Andrew Timothy Robinson, Saxo Bank
The Asian session was a relatively calm affair though the less-than-convincing close in the US session led to more of a risk-off sentiment...
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