Daily Forex Snap-Shots

Asian Session - FX Trading Subdued

Peter Rosenstreich — Fri, 04 Jul 2008 09:57:24 GMT

G10 Advancers and Decliners vs USD
	EUR	0.16
	CHF	0.15
	GBP	0.03
	JPY	-0.09

FX markets were relatively stable in Asian session as yesterday’s volatility seem to have driven more then just the US participant to start their weekend early. EurUsd climbed tentatively back above the psychological 1.5700 level while UsdJpy bounced around 106.60 / 106.80 levels. Carry trades picked up a slight intraday upwards trend with EurJpy moving from 167.25 to 167.84 and AudJpy found...

US Session - Dollar Rallies on Non-Farm Payroll Data

Peter Rosenstreich — Thu, 03 Jul 2008 20:44:01 GMT

G10 Advancers and Decliners vs USD
	CHF	0.01
	JPY	0.01
	EUR	-0.01
	GBP	-0.03

The Usd rose in the European session based on better primarily on the Non-Farm payroll data, and comments by Trichet of the ECB. The EurUsd retracted from the low 1.59 level to the 1.57 price, while the UsdJpy moved from 105 to 106 based on dollar strength. The GbpUsd retreated from the 1.99 resistance level to 1.98 in response to the economic data out of the US. Equity markets are trading...

Asian Session - Markets Eye ECB

Peter Rosenstreich — Thu, 03 Jul 2008 11:59:04 GMT

G10 Advancers and Decliners vs USD
	CHF	-0.03
	EUR	-0.05
	JPY	-0.23
	GBP	-0.27

Usd was stable in the Asian session as the market awaits today's ECB rate decision. EurUsd traded around the 1.5870 level while UsdJpy was able to hold above 106.00. We are expecting the ECB to raise rates to 4.25% in the European session while the US data should continue to paint an unsettling picture of the US domestic economy. Should our base scenario play out we expect the EurUsd to make a...

US Session - Dollar Slips in Anticipation of ECB Hike

Peter Rosenstreich — Wed, 02 Jul 2008 19:25:22 GMT

G10 Advancers and Decliners vs USD
	JPY	0.01
	CHF	-0.01
	EUR	-0.01
	GBP	-0.02

The Usd fell in the European session based on the continued trend of economic weakness in the US. The EurUsd traded through 1.58 approaching the 1.60 level. The UsdJpy is trading in with a 106 handle, while the GbpUsd remains the low 1.99 price. Equity markets in the US and Europe are trading lower again, while commodities are higher across the board with oil at 142 and gold at 944. Yields...

Asian Session - Aud Retail Sales Jump

Peter Rosenstreich — Wed, 02 Jul 2008 09:40:09 GMT

G10 Advancers and Decliners vs USD
	CHF	0.18
	EUR	0.15
	GBP	-0.22
	JPY	-0.30

Usd was stable in the Asian session as better then expected US data kept the greenback bears in check. EurUsd found support from the 5-ma trading from 1.5777 to 1.5820 while GbpUsd was unable to hold above the psychological 2.000 mark, trading between 1.9930 – 1.995. UsdJpy saw a decent rally off 105.25 to 106.18 before slipping slightly to 105.80 as the trading day wore on. Aud crosses were...

US Session - Mixed Economic Data Sustains Dollar Weakness

Peter Rosenstreich — Tue, 01 Jul 2008 17:56:09 GMT

G10 Advancers and Decliners vs USD
	JPY	0.34
	EUR	0.27
	CHF	0.20
	GBP	0.10

The dollar continued its downtrend in European session due to weakness in the US financial markets. The EurUsd broke resistance touching the 1.58 level overnight, while the UsdJpy traded down to 105.5. The GbpUsd is trading with a 1.99 handle, looking to move through the 2.00 level. Equity markets traded lower in both the US and Europe, while commodities pushed higher with oil at 142, and gold...

Asian Session - Jpy Gains

Peter Rosenstreich — Tue, 01 Jul 2008 09:48:54 GMT

G10 Advancers and Decliners vs USD
	GBP	0.37
	JPY	0.25
	EUR	0.07
	CHF	0.01

Usd was slightly weaker in the Asian session as a better then expected Tankan survey caused a wave of Jpy buying. UsdJpy continued its 4 day downward trend falling from 106.40 to 105.70 while EurUsd was range bound bouncing around the 1.5740 / 70 levels. Carry trades came under pressure as risk appetite waned and Jpy strengthened with EurJpy falling from 167.35 to 1.6655 and AudJpy diving to...

US Session - Minimal Relief for the Dollar in European Trading

Peter Rosenstreich — Mon, 30 Jun 2008 18:10:39 GMT

G10 Advancers and Decliners vs USD
	JPY	0.09
	CHF	-0.03
	EUR	-0.06
	GBP	-0.13

The dollar saw no relief in the European session with continued selling by increasingly bearish investors. The EurUsd traded in the high 1.57 level, while the UsdJpy moved to 105.9 on continued dollar weakness. The GbpUsd is trading with a 1.99 handle, approaching the 2.00 price. Equity markets are mixed with European indices higher and US stocks lower extending last week’s losses. Gold is...

Asian Session - Usd Near Term Prospects Bearish

Peter Rosenstreich — Mon, 30 Jun 2008 09:28:37 GMT

G10 Advancers and Decliners vs USD
	JPY	0.54
	CHF	0.30
	EUR	0.22
	GBP	0.03

Usd was stable but with a weaker tone in the Asian Session as higher oil prices and weak equity markets carried over from Friday's close. EurUsd trended upwards to 1.5798 from Friday's 1.5730 close. UsdJpy slipped to 105.77 from 106.40 while GbpUsd bounced around the 1.9940 level. With the Jpy gaining strength, volatility on the rise and risk appetite declining carry trades have come under...

US Session - Markets Shaken Up by Credit Related Issues

Peter Rosenstreich — Fri, 27 Jun 2008 19:12:36 GMT

G10 Advancers and Decliners vs USD
	JPY	0.61
	CHF	0.60
	GBP	0.30
	EUR	0.14

The dollar continued to slide in the European session as credit concerns returned to the market. The EurUsd traded through 1.57, while the UsdJpy moved to the 106 level on accelerating Usd weakness. The GbpUsd broke its previous resistance level of 1.98 to trade higher at 1.99, we may see the cable touch previous highs against the dollar in the near-term. European equity markets were mostly...

Asian Session - Usd Falls as Oil Surges

Peter Rosenstreich — Fri, 27 Jun 2008 10:08:11 GMT

G10 Advancers and Decliners vs USD
	CHF	-0.06
	JPY	-0.09
	EUR	-0.19
	GBP	-0.20

Usd was slightly stronger in the Asian session after yesterday surging oil prices and worries over growth punished the greenback. EurUsd pulled back from 1.5763 to 1.5724 while GbpUsd followed as 1.9897 to 1.9857. However, the easing of pressure goes against the bearish feel the Usd attracted over recent days and we expect further dollar weakness. US stock markets took a massive dive while crude...

Asian Session - Markets Calm after FOMC

Peter Rosenstreich — Thu, 26 Jun 2008 09:56:20 GMT

G10 Advancers and Decliners vs USD
	EUR	0.43
	CHF	0.29
	GBP	0.21
	JPY	0.15

Usd was stable in the Asian session after being sold off in response to the FOMC meeting. EurUsd ranged between 1.5660 and 1.5685 while UsdJpy trended upwards from 107.75 to 108.05. Carry trades continued to exhibit strong momentum with EurJpy finally breaking thru 168.80 resistance, climbing to 169.40 and AudJpy followed that trend by breaking thru 103.48 resistance, reaching new highs at...

US Session - Markets are Quiet Awaiting the FOMC Decision

Peter Rosenstreich — Wed, 25 Jun 2008 16:44:41 GMT

G10 Advancers and Decliners vs USD
	GBP	0.04
	EUR	-0.02
	JPY	-0.13
	CHF	-0.15

The Usd loss ground in the European session due to market expectations for the Fed to leave rates unchanged. The EurUsd moved to the 1.56 level, while UsdJpy remains in 107-108 range. The GbpUsd continues to trade at the 1.97 level, volume remains light as we await a rate decision by the Fed later this afternoon. Both European and US Equity markets are trading slightly higher, while both...

Asian Session - Waiting on the Fed

Peter Rosenstreich — Wed, 25 Jun 2008 10:00:50 GMT

G10 Advancers and Decliners vs USD
	JPY	-0.05
	GBP	-0.16
	EUR	-0.27
	CHF	-0.30

FX markets were unusually calm in the Asian session as markets await the news from the FOMC meeting. EurUsd was stuck in a 10 pip range for most of the session trading from 1.5565 to 1.5577 before breaking to the downside as Europe prepared to open. UsdJpy provided little excitement ranging from 107.67 to 107.94 despite trade data showing that exports jumped a whopping 3.7%. GBP traded between...

US Session - Market Trades Flat as FOMC Meets

Peter Rosenstreich — Tue, 24 Jun 2008 18:14:03 GMT

G10 Advancers and Decliners vs USD
	CHF	0.71
	EUR	0.51
	GBP	0.38
	JPY	0.08

The Usd moved slightly lower in the European session as the market anticipated weaker economic data to be released today. The EurUsd traded in the 1.55-1.56 range, while the UsdJpy remains at the mid 107 level. The GbpUsd Is trading at the 197 level with little price movement pending the upcoming FOMC decision tomorrow, we still maintain our price target of 1.93 over the next several months. ...

Asian Session - Light Trading in Asia

Peter Rosenstreich — Tue, 24 Jun 2008 09:44:41 GMT

G10 Advancers and Decliners vs USD
	CHF	0.37
	EUR	0.32
	GBP	0.26
	JPY	-0.28

Usd was stable in the Asian session as speculators have begun to position themselves in front of Wednesday FOMC rate announcement. EurUsd started to gain some positive momentum, trading up to 1.5538 from 1.5495 while the UsdJpy tested the 108.20 resistance twice as the Asian day progressed. With a light event calendar in Europe and markets still uncertain as to the direction of the Fed we would...

US Session - Usd Makes Gains

Peter Rosenstreich — Mon, 23 Jun 2008 21:54:33 GMT

G10 Advancers and Decliners vs USD
	JPY	0.43
	EUR	0.05
	CHF	-0.48
	GBP	-0.49

Usd was slightly stronger in US session as evidence of further deterioration in the Eurozone weighed on the Eur. German business confidence fell in June to the lowest level since 05 which added to speculation the European Central Bank would not raise rates. In the UK using prices continued to fall which added to pressure on the Gbp as the declining domestic condition will limits the BoEs ability...

Asian Session - All Quiet

Peter Rosenstreich — Fri, 20 Jun 2008 11:26:27 GMT

G10 Advancers and Decliners vs USD
	CHF	0.30
	EUR	0.20
	JPY	0.07
	GBP	-0.04

Usd was stable in Asian Session as a lack of data provided no real direction. EurUsd was able to break out of its tight 1.5490 – 1.5520 range rising to 1.5536 as Asia wrapped up trading. UsdJpy traded in a tight yet, choppy 107.85-108.05 range. GbpUsd pulled back slightly after a strong two day run falling to 1.9701. However going into Europe the Gbp has picked up a bullish tone and looks to...

US Session - Mixed Economic Data Has Little Effect on Dollar

Peter Rosenstreich — Thu, 19 Jun 2008 16:51:43 GMT

G10 Advancers and Decliners vs USD
	GBP	0.61
	JPY	-0.01
	EUR	-0.19
	CHF	-0.62

The dollar showed limited price movement in the European session based on mixed data out of both Europe and the US. Equity indices opened up slightly higher in the US after triple digit losses yesterday, while the European equity markets traded flat across the board. The EurUsd traded continues to trade within the 1.55-1.54 range, while the UsdJpy remains at the 108 level. The GbpUsd rose to...

US Session - Dollar is Stable Despite Weak Earnings

Peter Rosenstreich — Wed, 18 Jun 2008 18:05:21 GMT

G10 Advancers and Decliners vs USD
	CHF	0.04
	GBP	-0.02
	JPY	-0.10
	EUR	-0.13

The Usd held steady in the European session due to mixed economic data and additional warnings by major US investment banks that there may be a possibility of further write-downs. The EurUsd continued to trade within the 1.54-1.55 range, while the UsdJpy remained at the low 108 level. The Gbpusd showed little price movement at 1.95, as the market seemed to react very little to the BOE’s...

Asian Session - Usd Gains as Questions Fade

Peter Rosenstreich — Wed, 18 Jun 2008 09:46:04 GMT

G10 Advancers and Decliners vs USD
	JPY	-0.12
	CHF	-0.21
	EUR	-0.24
	GBP	-0.31

Usd was slightly stronger in Asian session as yields moved lower. GbpUsd was able to regain slightly to 1.9511 from Tuesday’s massive sell-off which saw the cable fall sharply from 1.9700 to 1.9472 lows. EurUsd was range bound for much of the Asian session but slipped to 1.5480 from 1.5520 as the trading day progressed. UsdJpy was stuck in a tight range of 107.90 to 108.00 as Japanese data failed...

US Session - Central Bank Fights to Balance Inflation and Growth

Peter Rosenstreich — Tue, 17 Jun 2008 17:34:21 GMT

G10 Advancers and Decliners vs USD
	EUR	0.08
	JPY	-0.02
	CHF	-0.16
	GBP	-0.62

The dollar showed weakness in the European session due to a shift in market expectations that the Fed will most likely not raise interest rates. The EurUsd traded near the 1.55 level, while the dollar gained strength against the Jpy at 108.21. The GbpUsd fell below 1.95 to what appears to be a support level at 1.94 for the near-term. Both the European and US equity markets are trading higher,...

Asian Session - Inflation Story Gains Traction

Peter Rosenstreich — Tue, 17 Jun 2008 09:39:53 GMT

G10 Advancers and Decliners vs USD
	CHF	0.31
	EUR	0.29
	GBP	0.24
	JPY	0.23

USD was weaker across the board in the Asian session as elevated inflation figures, as per the E15 report, and lower housing data had markets concerned about US growth. EurUsd traded up sharply to 1.5460 from 1.5540 while UsdJpy slid lower to 107.80 from 108.28. Strong Yen buying put pressure on trades in turn Jpy carry trading dropped. AudJpy sold off to 101.50 from 102.05 and EurJpy dropped...

US Session - Dollar Retracts Gains in the European Session

Peter Rosenstreich — Mon, 16 Jun 2008 16:57:52 GMT

G10 Advancers and Decliners vs USD
	GBP	0.83
	EUR	0.64
	CHF	0.52
	JPY	-0.24

The dollar fell in the European session due to comments or lack thereof in the G8 Summit over the weekend. The Usd traded lower against the Eur at the 1.55 level, but slightly held steady vs. the Jpy at 108. The GbpUsd moved higher to 1.96 from 1.94 last Friday as the cable probably won’t reach our target of 1.93 until the US economy stabilizes further. The equity markets traded lower in...

Asian Session - G8 Fails to Mention FX

Peter Rosenstreich — Mon, 16 Jun 2008 09:36:45 GMT

G10 Advancers and Decliners vs USD
	GBP	0.11
	EUR	-0.11
	CHF	-0.29
	JPY	-0.47

Usd was mixed in the Asian session as the G8 communiqué failed to mention FX and traders pairing down bets. EurUsd fell below 1.5400 before trending up to 1.5436 as the Asian trading day evolved. Jpy continued to come under selling pressure as UsdJpy rallied off 107.90 supports and headed to 108.40 while AudJpy in choppy action traded to 101.80. Jpy & Chf funded carry trades should...

US Session - Dollar Rallies Despite Weak Economic Data.

Peter Rosenstreich — Fri, 13 Jun 2008 19:05:26 GMT

G10 Advancers and Decliners vs USD
	GBP	0.23
	JPY	0.01
	EUR	-0.19
	CHF	-0.29

The Usd moved higher in the European session mostly due to Traders beliefs that the Fed will raise rates by the end of the year, as well as an EU policy that may have been rejected by Irish voters. The EurUsd traded through the 1.54 level to 1.53, marking the largest one week again in nearly three years. UsdJpy touched the 108 level, and continues to trade in the high 107-108 range, confirming...

Asian Session - BoJ Holds at 0.50%

Peter Rosenstreich — Fri, 13 Jun 2008 09:39:43 GMT

G10 Advancers and Decliners vs USD
	JPY	0.02
	EUR	0.02
	CHF	-0.01
	GBP	-0.01

Usd was broadly stable in Asian session as a lack of real data kept trading light. EurUsd was range-bound from 1.5410 to 1.5480 while the UsdJpy was constricted to 108.00 to 107.70 range. UsdNzd traded from 0.7490 to 0.7529 and UsdCad traded from 1.0217 to 1.0247. Gold recover slightly to 872.85spot and oil WTI rose to 136.60. US stock markets closed in the green and Asian markets are currently...

US Session - Dollar Bulls Charge Forward

Peter Rosenstreich — Thu, 12 Jun 2008 18:21:05 GMT

G10 Advancers and Decliners vs USD
	EUR	-0.90
	GBP	-0.93
	JPY	-0.96
	CHF	-1.10

The Usd remained strong throughout the European session as the US market continues to show resilience with retail sales up more than expected at 1%. In addition, Business Inventories rose 0.5% in April, which was also better than expected. The Eurusd traded at $1.54 while UsdJpy continued to rise to 107.9. The GbpUsd is approaching our 1.93 target, currently trading at 1.94 as the dollar...

Asian Session - Aud Employment Dips

Peter Rosenstreich — Thu, 12 Jun 2008 09:20:07 GMT

G10 Advancers and Decliners vs USD
	JPY	-0.46
	GBP	-0.51
	CHF	-0.64
	EUR	-0.72

Usd was stronger in the Asian session as speculation grows that a stable US economy will allow the Fed to focus on containing inflation. The beige book reported yesterday that while US economic activity remains weak, there are patches of slow growth. EurUsd slipped to 1.5460 from 1.5560 and GbpUsd eased to 1.9560 from 1.9660. Jpy was mixed, with UsdJpy trading up to 107.38, while EurJpy sold off,...

Asian Session - Bernankes Comments Fade

Peter Rosenstreich — Wed, 11 Jun 2008 10:28:35 GMT

G10 Advancers and Decliners vs USD
	EUR	0.11
	GBP	0.07
	CHF	-0.11
	JPY	-0.30

Usd was mixed Asian session as the US policy makers comments faded into the background. EurUsd trended off the 1.5440 support level moving back towards 1.5500 while UsdJpy broke through the 107.50 resistance to 107.76. Commodity bloc gained slightly asNzdUsd moved cautiously to 0.7548 from 0.7520 and the UsdCad slid to 1.0217 from 1.0246. With continued weakness in the Jpy and US equity markets...

US Session - Dollar Manages to Hold Strength

Peter Rosenstreich — Tue, 10 Jun 2008 15:34:06 GMT

G10 Advancers and Decliners vs USD
	JPY	-0.59
	GBP	-0.93
	CHF	-1.09
	EUR	-1.13

The Usd sustained strength in the European session, spurred mostly by hawkish commentary by Fed Chairman Bernanke. Investors are increasing bets that the Fed will raise rates before the end of the year. US Equity futures are trading lower across the board with oil moving higher to 137 solidifying the inflationary worries cited both the Fed and ECB. Bonds fell to the lowest levels in over a...

Asian Session - Paulsons Comments Support Usd

Peter Rosenstreich — Tue, 10 Jun 2008 10:02:49 GMT

G10 Advancers and Decliners vs USD
	GBP	-0.22
	CHF	-0.40
	JPY	-0.42
	EUR	-0.44

Usd was stronger in Asian session as US policy makers increased their verbal intervention on the greenback behalf. EurUsd fell to 1.5559 from 1.5660 while UsdJpy rose to 106.80 from 106.20. Carry trade continued to perform well despite market uncertainly with EurJpy reach 166.50 and TryJpy climbed back towards 86.60 channel resistance. Commodity currencies fell with UsdCad rising to 1.0200 and...

Asian Session - Markets Wary Due to Crude

Peter Rosenstreich — Mon, 09 Jun 2008 10:00:14 GMT

G10 Advancers and Decliners vs USD
	CHF	0.48
	EUR	0.30
	JPY	0.13
	GBP	0.02

Usd was slightly weaker in Asian session after a coming under significant pressure on Friday. The combination of a weak payroll figures, Trichet ultra hawkish comments and geopolitical tensions from the Middle East which caused crude wti to close at $138.54bll all weighed heavily on the greenback. EurUsd in choppy action traded between 1.5766 to 1.5795, while UsdJpy rallied sharply from 104.43 to...

Asian Session - Trichets Comments Reverse Euro's Fate

Peter Rosenstreich — Fri, 06 Jun 2008 09:35:38 GMT

G10 Advancers and Decliners vs USD
	EUR	0.14
	GBP	0.09
	CHF	-0.02
	JPY	-0.19

Usd was stable in Asian session after a massive sell off consecutive to Trichet's comments yesterday. EurUsd was range bound from 1.5580 to 1.5605 while UsdJpy bounced around from 105.56 to 106.25. Crude prices were slightly stronger trading to $128.50bll and gold also took advantage of the Usd weakness reaching $880.40oz. Commodity Bloc was firmer as AudUsd traded up to a high of 0.9610 while...