Latest Shirakawa Rhetoric Fails To Curb JPY Strength

Although EURUSD’s surging rally has failed to overcome the psychologically important 1.3500 level at the start of this week, the pair has actually managed to sustain last week’s gains extremely well –...

Concern over Irelands Banking Sector Halts EUR Rally

Another strangely quiet day in the FX markets so far. With not much to discuss, markets have been actively chattering about the WSJ article which claimed that the Fed will be pulling back on the “shoc...

Attention Turns to European Strikes

We are still seeing strong flows to safe haven CHF and JPY and the fiscally sound portion of the G10 curve. And judging from the start of the European session this trend should continue today, just in...

FX Traders Watching EU Yields

 The EURUSD has stayed surprisingly resilient despite the negative news surrounding the Euro in the last 24 hours. Moody’s downgraded Spain to Aa1 with the outlook at stable which did not provide...

EURO Bulls Jump In With Both Feet

There is clearly an optimistic feel to today’s market trading – which is nice – but it is giving us a eerie déjà vu feeling reminiscent of the day after the EU / IMF bailout. While participants were b...

Little Respite From Greenback Selling

It’s been a particularly quiet start to the trading week with the USD regaining some of last week’s lost ground, but not much. A key theme that emerged at the end of September was the selling of the U...

AUDUSD, Risk Trades Likely To Struggle In Near Term

The two major events of today’s session had already taken place before most of Europe had even hit their desks. The first came as the RBA announced a shock on-hold decision at their latest rate meetin...

All Aboard the QE Bandwagon

Just about every talking head who is anyone has now jumped on the QE Part Deux bandwagon – the result has been the massive deprecation of the USD. Chicago Fed President Evans revealed in a WSJ piece t...

EURO Climbs as Markets Wait for the ECB

The rout of the USD continued throughout the Asian session and the momentum isn’t letting up during the European. As stated yesterday, even though technical indicators are signaling that the USD is cu...

Markets Consolidate Ahead of NFP

Traders holding long JPY positions were bracing themselves for today’s Asian open. However, the ever-image-conscious Japanese clearly felt that a physical intervention just hours from the IMF / G7 mee...