Tag Archive: $AUD

FX Daily, November 30: Renewed OPEC Hopes and Month End Featured

2016-11-30

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2016-11-30

FX Performance, November 30 2016 Movers and Shakers
Rates for buying Swiss Francs dollars remain incredibly subdued post Brexit but there has been a general improvement over the last month. Rates for the moment appear to have found support over 1.24 for GBP CHF and this has largely come about following the Trump US presidential election victory. Despite a leaked government document titled Have cake and eat it, the markets and sterling were largely unphased.

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FX Daily, November 28: Corrective Forces Seen in Asia, Subside in Europe

2016-11-28

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2016-11-28

FX Performance, November 28 2016 Movers and Shakers
As soon as markets opened in Asia, the greenback was sold, and corrective forces that had been nipping below the surface took hold. The euro, which had finished last week below $1.0590, rallied nearly a cent. Before the weekend, the greenback had pushed to almost JPY114, an eight-month high, before closed near JPY113.20. It was sold to almost JPY111.35 in early Asia. Sterling extended last week's gains and briefly poked through $1.2530, to reach...

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FX Daily, November 17: Consolidation Gives Dollar Heavier Tone

2016-11-17

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2016-11-17

FX Performance, November 17 2016 Movers and Shakers
The US dollar is trading with a heavier bias today as its recent run is consolidated. The euro is trying to snap the eight-day slide that brought it to nearly $1.0665 yesterday, the lows for the year. It is almost as if participant saw the proximity of last year's lows ($1.0460-$1.0525) and decided to pause, perhaps to wait for additional developments, such a Fed Chief's Yellen's testimony before the Joint Economic Committee of Congress.

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FX Daily, November 08: Consolidation Featured as Market Catches and Holds Breath

2016-11-08

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2016-11-08

FX Performance, November 08 2016 Movers and Shakers
The equity markets snapped their losing streak yesterday and are consolidating today. The US dollar is narrowly mixed. The euro and sterling are slightly firmer, but well within yesterday's ranges. The dollar-bloc is a bit lower, and once again the Australian dollar is struggling to sustain moves above $0.7700.

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FX Daily, November 01: Dollar and Yen Slip in Quiet even if Eventful Turnover

2016-11-01

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2016-11-01

FX Performance, November 01 2016 Movers and Shakers
The US dollar is posting minor losses against most of the major currencies today.The Japanese yen is the exception, as the greenback continues to straddle JPY105. There have been several developments today, and the US also has a full economic calendar today. The most important of the developments was the upbeat message from the Reserve Bank of Australia.

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FX Daily, October 27: Rising Yields Continue to be the Main Driver

2016-10-27

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2016-10-27

FX Performance, October 27 2016 Movers and Shakers
The euro remains pinned near the seven-month low it recorded two days ago near $1.0850. It approached $1.0950 yesterday and has been confined to about a 15-tick range on either side of $1.0905 today. Against the yen, the dollar remains near the three-month high (~JPY104.85) also seen two days ago. New dollar buying emerged yesterday near JPY104.

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FX Daily, October 26: Euro and Yen Extend Recovery

2016-10-26

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2016-10-26

FX Performance, October 26, Movers and Shakers
After touching 1.08, which apparently the "new floor", the SNB moved the EUR/CHF upwards yesterday and Monday. Today's EUR recovery against USD, let also the EUR/CHF rise. The US dollar's upside momentum reversed in North America yesterday and has been sold in Asia and Europe. This seems like mostly position adjustments ahead of next week's FOMC, BOE and RBA meetings, in an otherwise subdued news period. The euro has at three-day highs. It has...

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FX Daily, October 25: Germany IFO, Dollar Going Nowhere

2016-10-25

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2016-10-25

FX Performance, October 25 2016 Movers and Shakers
The US dollar has been confined to extremely narrow ranges against the euro, yen, and sterling. To the extent that there is much action in the foreign exchange market, it is with the dollar-bloc and emerging market currencies.The Canadian dollar was whipsawed by comments from the Bank of Canada.

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FX Daily, October 24: Dollar Begins Mostly Slightly Lower, and Risk is On to Start the Week

2016-10-24

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2016-10-24

FX Performance, October 24 2016 Movers and Shakers
Sterling vs the Swiss Franc has remained close to its lowest level in history caused by the aftermath of the Brexit vote back in June and more recently the announcement that Article 50 will be triggered by March 2017. Confidence in Sterling exchange rates has plummeted recently and until we get some form of assurances as to how the talks may go with the European Union we could see Sterling fall even further against the Swiss Franc than its current...

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FX Daily, October 18: Dollar Slips Broadly but not Deeply

2016-10-18

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2016-10-18

FX Performance, October 18 2016 Movers and Shakers
According to Bank of England deputy governor Ben Broadbent the drop in the value of Sterling has helped to stop the UK economy from falling further since the shock of the Brexit vote. He went on to say ‘in the shape of the referendum, we’ve had exactly one of those shocks’ and added that the Bank of England would not interfere with monetary policy to boost the Pound’s value.

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FX Daily Rates, October 17: Dollar Starts Week Narrowly Mixed, while Bonds and Stocks Retreat

2016-10-17

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2016-10-17

FX Performance, October 17 2016 Movers and Shakers
The US dollar is consolidating in relatively narrow trading ranges. Participants appear to be waiting for fresh incentives, while the recent rise yields continue and equities have begun the new week on a soft note. Yellen spoke before the weekend, and her explicit willingness to tolerate higher inflation pushed yields higher, while not deterring expectations for a hike in December.

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FX Daily, October 13: Dollar Edges Higher, though US Rates Soften

2016-10-13

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2016-10-13

FX Performance, October 13 2016 Movers and Shakers
The EUR/CHF remains in the range of 1.0815 to 1.0980. The SNB usually intervenes below 1.0850. I am expecting that speculators are reducing their CHF short positions. More tomorrow.

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FX Daily, October 12: May Concedes to Parliament, Sterling Rises after Pounding

2016-10-12

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2016-10-12

FX Performance, October 12 2016 Movers and Shakers
News that UK Prime Minister May has accepted that Parliament should vote on her plan for exiting the EU stopped sterling's headlong slide. Sterling had been pounded for roughly 8.5 cents since the start of the month including the last four sessions. The idea that parliament, where the Conservatives enjoy a slim majority, is less enthusiastic about Brexit may mean a less acrimonious divorce.

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FX Daily, October 06: The Dollar is Firm in Quiet Market

2016-10-06

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2016-10-06

FX Performance, October 06 2016 Movers and Shakers
The US dollar is advancing against the major and most emerging market currencies. Activity is subdued and ranges are narrow. We share four observations about the price action. First, the euro has been unable to sustain upticks even after Germany reported a jump in industrial orders three-times more than the median estimate (1.0% vs. 0.3%).

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FX Daily, October 04: Sterling’s Slide Continues, EUR/CHF Soars Again

2016-10-04

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2016-10-04

FX Performance, October 4, 2016
UK Prime Minister May's comments at the Tory Party Conference over the weekend played up the risk of what has been dubbed a hard Brexit and triggered a slide in sterling saw it fall to new 30-year+ low against the dollar just below $1.2760. The EUR/CHF has soared again. Later during the day, it has even achieved 1.0970.

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FX Daily, September 30: SNB Intervenes to Polish Q3 Results

2016-09-30

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2016-09-30

FX Performance, September 30 2016 Movers and Shakers
True to its recent habit, the US dollar is finishing the week on a firm note. On the month, though, the greenback has fallen against most of the majors, but sterling, the Canadian dollar, and the Swedish krona. Global equities are trading heavily, and investors' angst is lending support to bond markets.

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FX Daily, September 29: Dollar Quietly Bid, while Market is Skeptical of OPEC Deal

2016-09-29

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2016-09-29

FX performance, September 29 Movers and Shakers
The US dollar has firmer against most major and emerging market currencies. It remains well within its well-worn ranges, which continue to be narrow. A notable exception today is the yen's weakness. While the majors are mostly off marginally and now more than 0.3%, the yen is 0.75% lower. That puts the greenback at a six-day high (~JPY101.75) at its best.

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FX Daily, September 28: Dollar Mostly Firmer, but Going Nowhere Quickly

2016-09-28

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2016-09-28

FX Performance 2016, September 28 Movers and Shakers
The US dollar is enjoying a firmer bias today, but it remains narrowly mixed on the week. It is within well-worn ranges. Of the several themes that investors are focused on, there have not significant fresh developments. In terms of monetary policy, both Draghi and Yellen speak today. The former is behind closed doors with a Germany parliamentary committee.

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