Archive for September, 2008
EUR/USD bounced off the 1.4196 support Friday helped by the worse than expected NFP numbers and the rebound in EUR/JPY caused by the US government Fannie, Freddie takeover plan. EUR was knocked down last week buy EUR/JPY sales and it may be helped buy EUR/JPY buying this week. Probably the long awaited correction started and [...]
Monday someone bought 1-month EUR/JPY 150.00 puts. After this the pair was sold off and plunged almost 8 big figures. Interesting coincidence.
EUR/USD made new low for the year this morning after huuuuge sell off in Cross/JPY. EUR/JPY made 449 pips trading range, which is the 7-th largest during the last 9 years. Liquidation of large carry trade positions some of which > 500M was the name of the game. Trichet wasn’t hawkish neither dovish and the [...]
Today is the Central banks’ day. At 11:00 GMT BoE will announce its decision while at 11:45 GMT we will have the ECB decision and at 12:30 GMT Mr. Trichet will have press conference. This latter event will be very important for the forex market. If ECB’s boss sounds hawkish the EUR/USD could begin its [...]
US Dollar continues to muscle its way across the board vs Majors and Asian currencies, with EUR, GBP, AUD, NZD, CAD, CHF all falling to day lows. EUR stoploss hit below 1.4450 to fresh 7-month lows of 1.4411. Dealers report bids @ 1.4410/00, but also huge stop loss building below 1.4400/3990. EUR/USD broke below the [...]
EUR/USD made new lows for the current down move, which shows that it may not be over, although the market is oversold. The hurricane Gustav was not as dangerous as it was expected and the oil prices fell to $110-111, which weighed on the euro also. GBP is under renewed preassure after Chancelor darling’s comments [...]
The US Dollar is again the preferred currency today. Cable was weighed by UK Chancellor Darling comments in Guardian on Saturday. This initiated broad USD buying. Large US banking group was active EUR seller as well as Asian , Sovereign, Korea, China accounts. EUR/USD is also weighed by rumours that 1-month 1.50 EUR/JPY puts were [...]