Posted by: Forex Weekly Reports (ActionForex.com)
Bonds have come back off the boil as investors try to figure out whether or not the European banking system might weigh any further on the global recovery following a recent poke at its methodology. Yields slumped on the news that Europe’s bankers might not have fully reported government debt
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Posted by: Forex Weekly Reports (ActionForex.com)
The Bank of Canada boosted the overnight rate by 25 basis points (bps) to 1% this morning and said that, “Any further reduction in monetary policy stimulus would need to be carefully considered in light of the unusual uncertainty surrounding the outlook.” Financial markets leaned toward a rate hike, but
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Posted by: Forex Weekly Reports (ActionForex.com)
The US dollar was mostly softer overnight as risk sentiment stabilized after yesterday’s flight to safety. A better than expected Halifax home price index for August (+0.2% vs. expected -0.5% prior +0.6%) and M&A chatter helped to boost the pound, sending GBP/USD to highs near 1.5495 from session lows around [...]

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Posted by: Forex Weekly Reports (ActionForex.com)
The burning question on investors’ minds following the accusation that the Eurozone banking stress tests were flawed was whether or not the immediate shuttering of risk appetite was the start of a bigger meltdown. In overnight currency trading the sensation is that the reaction was overly bearish. The Aussie has
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Posted by: Forex Weekly Reports (ActionForex.com)
Safe-haven trades were slightly stronger this morning during the Asian session. The absence of any fresh economic news kept large participants sidelined this morning. Risk aversion was driven by further spread widening of peripheral EU bond spreads against Germany. The trend was set in motion yesterday as the S&P closed
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Posted by: Forex Weekly Reports (ActionForex.com)
The Peripheral stress continued to aid the overall risk aversion sentiment again in the early part of the session. Press article again contributed to the cause with dealers taking note that perhaps Greece continued to withholding data on the real extent of its situation while the FT commented that the
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Posted by: Forex Weekly Reports (ActionForex.com)
We expect European markets to open around 0.5 lower this morning on the back of renewed fear for the development in European sovereign debt. This reoccurring theme has been put to life again after an article in Wall Street Journal yesterday, but the interesting part it really that the
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Posted by: Forex Weekly Reports (ActionForex.com)
Europe have presented better than expected performance during the second three months of this year, but today’s report hinted to the possibility that investors believes are valid and economic activities will drop during the second half of this year.
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Posted by: Forex Weekly Reports (ActionForex.com)
Before I get into the overnight nonsense, I can tell you that we’re seeing a decent amount of action already this morning in the Cable and EURUSD, with the USDCHF also looking rather lively. In the Cable outside of stops being taken out through the 1.5430 level the market has
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Posted by: Forex Weekly Reports (ActionForex.com)
On Tuesday, the euro was hit across the board as fears on the European banking sector came again in the spotlights. EUR/USD lost some short-term support levels, making the ST picture again shaky. The yen reached multi-year highs against the dollar, but at least for now the pace of the
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