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Week in FX Europe – German IFO and Fed Mixed Signals Boost EUR

Posted by Alfonso Esparza at 3:46 pm EDT, 05/24/2013

The EUR/USD had a roller coaster ride. Last week Fed member comments regarding a near end of the US QE program sapped strength away from the EUR. This week Fed Chairman Ben Bernanke warned against ending the program too soon, as it might hurt more than help. The comments and a surprisingly strong German IFO Business Climate figure drove the EUR/USD above the 1.29 level. The GBP/USD continues to struggle even as employment numbers were positive in the UK. The [...] read more

Filed under: Dean's FX, Europe, Week in FX, EUR, GBP, CHF
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Market Pulse »

GBP/USD – Edges Higher as British GDP Meets Expectations

Posted by Kenny Fisher 10:58 am EDT, 05/23/2013

GBP/USD has edged higher in Thursday trading. The pair was trading in the high-1.51 range early in the North American session. The pound got some good news as British Secondary GDP posted a gain of 0.3%, matching the forecast. Preliminary Business Investment, however, was well below the estimate. US key releases looked sharp, as both Unemployment Claims and New Home Sales beat their estimates. The markets were pleased with British GDP, which rebounded from a 0.3% decline in Q4 of 2012, and posted a [...] read more

Filed under: GBP, SGD

Forex Insights »

Posted under: JPY at 10:53 am EDT, 05/24/2013
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Economic Exposure »

Energy And Metals Move In Opposite Direction

Posted by Dean Popplewell 12:18 pm EDT, 05/23/2013

Capital markets are currently facing the perfect storm for risky assets, with negative signals coming from both monetary policy and macro-fundamentals. Disappointing overnight data from the world’s second largest economy is again pressurizing West Texas Intermediate oil prices in New York trading. Factory output in China shrank for the first time in seven- months last night, as Chinese manufacturing PMI fell below 50, after the HSBC flash PMI reported 49.6 in May compared with a final print of 50.4 for [...] read more

Filed under: USD, AUD, CAD

Central Bank Watch »

ECB Weidmann Monetary Policy cannot Solve the Crisis

Posted by Alfonso Esparza 5:03 pm EDT, 05/23/2013

Bundesbank chief Jens Weidmann said on Thursday it was not up to the European Central Bank to solve the euro zone crisis, resisting pressure from other ECB policymakers for the bank to widen its range of policy tools. Speaking in Paris, Weidmann declined to comment on U.S. Federal Reserve chairman Ben Bernanke’s remarks that the U.S. central bank may start to trim its bond purchases at one of its next policy meetings. Focusing on the situation in the euro zone he said: [...] read more

Filed under: EUR

OANDA's open position ratios

  1. AUD/USD
    74.82% 25.18%
  2. USD/CHF
    61.85% 38.15%
  3. USD/JPY
    58.63% 41.37%
  4. GBP/USD
    54.13% 45.87%
  5. EUR/USD
    48.51% 51.49%

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May
24
Today’s Global
Market Events
2:00am
EUR
GfK German Consumer Climate
(F)6.2 (P)6.2
EUR
German Final GDP q/q
(F)0.1% (P)0.1%
3:00am
GBP
MPC Member Fisher Speaks
4:00am
EUR
German Ifo Business Climate
(F)104.6 (P)104.4
4:30am
GBP
BBA Mortgage Approvals
(F)32.7K (P)31.2K
6:00am
EUR
German Buba President Weidmann Speaks
8:30am
USD
Core Durable Goods Orders m/m
(F)0.6% (P)-1.5%
USD
Durable Goods Orders m/m
(F)1.8% (P)-6.9%
9:00am
EUR
Belgium NBB Business Climate
(F)-13.4 (P)-14.7