FX markets are little changed from last week, as participants seem content to let the year wind down. The Asian session was thinned by holidays in Australia and New Zealand, but overall risk correlated trade faired well. The EURUSD has been range trading between 1.4355-1.4405 while USDJPY is trading in an increasingly tight range between 91.40 and 91.65 (barring a spike to 91.77 earlier in the… (more…)
European equity indices have opened higher today, following on the momentum from the Asian session and shaking off some of the holiday staleness in the markets. The USD is somewhat lower with the DXY at 77.40; but there seems to be very little news behind the sell-off at the start of the London open, and instead it seems to be a very flow-driven market in thin liquidity. The major news release of… (more…)
The holidays are clearly upon us, with trading increasingly being defined by range bound sessions and thin liquidity exaggerating moves. The DXY continues to push higher as better than expected US existing homes sales data helped propel the greenback in NY trading, while disappointing New Zealand GDP provided USD support in Asia. In addition, Greece and fears over sovereign debt came back into… (more…)
FX trading continues to be defined more by pre-holiday, thin liquidly and choppy trading than by any core themes or drivers. Risk appetite was stable in the Asian session, as equity markets rallied back, with Shanghai’s composite up 2.59% and the Nikkei up 1.53%. However, for FX traders there has been a noticeable shift from the year long risk appetite trade to the historical trend of USD gaining… (more…)