FX Daily

 

FX Daily
January 23, 2015 Posted by
The EUR continues its dramatic slide vs. the USD (11-year lows) as an official said the ECB is prepared to increase its stimulus program (QE announced yesterday) is needed next week amid polls showing the “anti-austerity” party is expected to win next week’s Greek elections.
Read More
0 Comments | Join the Discussion

FX Daily
January 21, 2015 Posted by
EUR is slightly stronger vs. the majors this morning after a report from Bloomberg indicated an ECB Executive Board proposal circulated to the Governing Council foresees asset purchases (QE) of 50B EUR/month through the end of 2016.
Read More
0 Comments | Join the Discussion

FX Daily
January 16, 2015 Posted by
The euro has taken a beating in recent weeks and the downside move accelerated yesterday when the Swiss National Bank unexpectedly ended its policy of maintaining the franc at levels weaker than 1.20 per euro. While setting a record intraday low against the franc yesterday, the euro also ended the day with a 3.5% decline in relation to a basket of major currency peers, the biggest drop on record.
Read More
0 Comments | Join the Discussion

FX Daily
January 15, 2015 Posted by
The Swiss National Bank sent shockwaves through the market today by abandoning its 1.20 cap on franc per euro. The SNB simultaneously cut the target rate for three-month LIBOR from a range of minus .75% to minus .25% to minus 1.25% to minus .75%.
Read More
0 Comments | Join the Discussion

FX Daily
January 14, 2015 Posted by
U.S. retail sales were significantly worse than expected for the month of December, falling by .9%, the worst showing in nearly a year. The retail sales index measures 13 categories of spending and 9 of those fell, indicative of a broad based retreat that will prompt cuts to U.S. growth forecasts.
Read More
0 Comments | Join the Discussion

FX Daily
January 13, 2015 Posted by
Polling ahead of Greece’s January 25 elections are showing the anti-austerity Syriza party in the lead by 3 points. Meanwhile Greece’s current aid agreement is due to expire at the end of February and the ECB is warning that it would choke off funding to Greek lenders rather than renew an international bailout package if austerity measures were not adhered to.
Read More
0 Comments | Join the Discussion

FX Daily
January 12, 2015 Posted by
Debate is intensifying in Europe ahead of their January 22 policy meeting over calls to introduce quantitative easing. Draghi will make arguments in favor of QE at a conference in Berlin on January 14, the same day the European Court of Justice in Luxembourg will announce a non-binding legal opinion of a previously announced but never used plan to purchase bonds under a program known as Outright Monetary Transactions. While many central banks globally have the mandate to undertake quantitative easing, its legality within Europe is unclear.
Read More
0 Comments | Join the Discussion

FX Daily
January 08, 2015 Posted by
The euro is sliding again and has yet to find a bottom as a German report indicated that industrial production fell 0.6% in November from a year earlier.
Read More
0 Comments | Join the Discussion

FX Daily
January 07, 2015 Posted by
The euro took another tumble this morning after a report showed that inflation in the region fell more than expected.
Read More
0 Comments | Join the Discussion

FX Daily
January 06, 2015 Posted by
The yen gained for a second day as traders are looking for a second haven with the U.S. dollar.
Read More
0 Comments | Join the Discussion