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Japanese Trade Data Softens - Will Intervention Backfire?

posted by fx360 607 days ago in USD, JPY, Daily made popular 607 days ago

The latest Japanese trade data revealed that the country’s strengthening currency is beginning to weigh on exports which could impact growth negatively as we approach the end of the year. Although the headline Trade Balance number was a bit h

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Euro Retreats from 1.3500 Level as Profit Taking Kicks in

posted by fx360 607 days ago in USD, EUR, Daily

A very quiet start to the week in the currency market with most of the majors trading in exceedingly tight ranges as economic calendar remains barren and profit taking dominates trade into the European open. The EUR/USD has drifted towards 1.3450

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Beware of Chinese and Japanese Currency Moves

posted by fx360 607 days ago in USD, JPY, Daily

With no U.S. economic data on the calendar this morning aside from secondary data such as the Chicago Fed National activity index and the Dallas Fed manufacturing index, it has been a quiet morning in the foreign exchange market.

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FX: Politics Of Currencies

posted by fx360 618 days ago in USD, JPY, Daily

Intervention by the Japanese government and the rally in USD/JPY was the biggest story in the financial markets today. However just because the Japanese are buying U.S. dollars, does not mean that everyone else is doing so as well. In fact, the o

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Drop in UK Retail Sales Signals Trouble For Pound

posted by fx360 618 days ago in USD, Daily

UK Retail Sales printed much weaker than expected contracting at -0.5% versus calls for a 0.3% gain. This was the first decline since January of 2010 signaling that UK economic recovery continues to falter in the second half of the year.

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Euro Rallies on Strong Spanish Bond Auction

posted by fx360 618 days ago in USD, EUR, Daily

A strong Spanish bond auction helped to lift EUR/USD to its highest level in 5 months while in UK surprisingly weak Retail Sales weighed on the pound in early morning European trade. In EZ the Spanish auction of 10 and 30 year bonds saw markedl

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SNB Remains Dovish, EUR/CHF Soars -Turn in Trend?

posted by fx360 618 days ago in USD, EUR, CHF

As expected the Swiss National Bank left rates on hold at record low of 25bp but cut its inflation target suggesting that it will maintain its ultra accommodative monetary policy for the foreseeable future sending the franc tumbling against the d

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Japan Intervenes- Can USD/JPY Hold Above 85.00?

posted by fx360 619 days ago in USD, JPY, Daily made popular 619 days ago

Japan intervened in the currency markets today driving USD/JPY higher by 200 points within a matter of hours as it caught speculators by surprise. The markets were convinced that yesterday’s DJP election of Naoto Kan removed any intervention pre

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FX: No Reaction to U.S. Data, Intervention Flows Still Domin

posted by fx360 619 days ago in USD, JPY, Daily made popular 619 days ago

Weaker than expected U.S. economic data failed to put a dent in USDJPY which is up more than 3 percent on the back of intervention by the Japanese government. Although the latest U.S. economic reports show continued weakness in the U.S. recovery,

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USD/JPY Holds its Gains -US Data Will Be Key

posted by fx360 619 days ago in USD, JPY, Daily made popular 619 days ago

Japanese officials intervened in the currency markets for the first time in six years catching traders by surprise and propelling USD/JPY higher by 250 points to trade at 85.50 in early morning European session. The markets were convinced that ye

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Euro Stumbles on ZEW as Yen Hits 15 Year Highs

posted by fx360 620 days ago in EUR, JPY made popular 620 days ago

The yen hit a 15 year against the dollar in the wake of Naoto Kan’s victory over Ichiro Ozawa for the DJP leadership. Mr. Ozawa was viewed as the more dovish of the two candidates and one most likely to initiate intervention to lower the value of

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USD/JPY Shrugs Off Good but not Great Retail Sales

posted by fx360 620 days ago in USD, JPY made popular 620 days ago

The stronger than expected U.S. consumer spending numbers eased risk aversion in the foreign exchange market but the rise in retail sales was not strong enough to push currencies back into positive territory. The selling pressure in USD/JPY is so

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