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<rss version='2.0'><channel><title>About Forex Market</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?tagid=Forex+Market</link><description>About Forex Market</description><pubDate>Tue, 07 Sep 2010 18:30:14 GMT</pubDate><lastBuildDate>Tue, 07 Sep 2010 18:30:14 GMT</lastBuildDate><item><title>FX Update: US Non-farm payrolls below forecast, but still a positive report</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1119</link><description><![CDATA[US non-farm payroll data on Friday was a mild disappointment on the headline, coming in at +162k vs. +184k expected though there had been some market chatter of a number closer to +250k just prior to the release. But at least we registered the first monthly jobs growth since the end of 2007 and the previous month’s numbers were revised higher. Unemployment was unchanged at 9.7% but wages suffered a setback with average hourly earnings down 0.1% m/m. <br />
]]></description><pubDate>Mon, 05 Apr 2010 06:54:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1119</guid></item><item><title>FX Update: Is a EUR short-squeeze the first thing we will see in Q2?</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1108</link><description><![CDATA[The dollar was generally weaker across the board overnight as month/quarter-end position adjustment induced some volatility. US data was also below forecasts adding to the dollar’s woes with the ADP employment change coming in at a negative rather than the +40k consensus estimate. This may question the bullish expectations for tomorrow’s non-farm payroll, though many note the ADP report does not include census hiring, nor seen any weather-effect. The Chicago PMI was also weaker, falling to 58.8 in March from 62.6 in February. <br />
]]></description><pubDate>Thu, 01 Apr 2010 07:14:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1108</guid></item><item><title>FX Update: AUD knocked off its perch following a weak set of data</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1103</link><description><![CDATA[The EUR gave back most of the gains made during the Asian session yesterday with pressure coming from worsening news out of Europe – Ireland’s “Bad Bank” indicating it will apply a discount of 47% vs. 30% initial estimate on blocks of bad loans, Greek bonds trading poorly with tepid demand for the 12-year auction, an IMF downgrade to German growth and a rumoured French ratings downgrade (subsequently denied with Fitch affirming the AAA rating
]]></description><pubDate>Wed, 31 Mar 2010 07:15:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1103</guid></item><item><title>FX Update: A range-bound session yesterday after morning fireworks</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1099</link><description><![CDATA[After the excitement in early Asia yesterday, most currency pairs (and especially EURUSD) were mired in tight ranges overnight. Markets were less than impressed with the high price Greece had to pay for its 7-year issuance (310bp over benchmark mid-swap rate and more than 5 times the yield premium of comparable Spanish debt) but at least the EUR held mid-range. The pound struggled, but kept its head above water after S&amp;P maintained its negative outlook on the UK (though affirmed its AAA rating) while UK data was mixed (mortgage approvals softer but M4 money supply firmer). <br />
]]></description><pubDate>Tue, 30 Mar 2010 07:28:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1099</guid></item><item><title>FX Update: A week where the EUR’s near-term direction will be decided…</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1094</link><description><![CDATA[The USD was generally softer across the board in Friday’s session as the draft EU agreement on the Greek bailout, follow-up supportive comments from EU officials, S&amp;P’s affirmation of Portugal’s debt rating (in contrast to Fitch’s downgrade) and a firmer US Michigan confidence reading all conspired to promote better risk appetite. 
]]></description><pubDate>Mon, 29 Mar 2010 07:18:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1094</guid></item><item><title>IMF will take the leading role in a possible Greek bailout</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1089</link><description><![CDATA[New agreement btw Germany and rest of EU: combined IMF and EU aid to Greece would be allowed, if unanimous decision in E-Z countries.
]]></description><pubDate>Fri, 26 Mar 2010 07:21:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1089</guid></item><item><title>FX Update: The USD extends its gains as US yields edge higher</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1088</link><description><![CDATA[It took a while for markets to decide whether to extend the dollar’s current surge, but the bulls eventually won out. An early short squeeze was soon given back and the EUR came off to fresh lows into the close after ECB’s Trichet voiced his objection to the IMF getting involved in any Greek bailout plan. GBP attempted to rally on the back of what looked like a strong retail sales number but, given the suspect nature of this data series, this was soon rejected and we pushed below Asian lows.
]]></description><pubDate>Fri, 26 Mar 2010 06:41:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1088</guid></item><item><title>FX Update: USDJPY powers higher on positive US/negative Japan developments</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1083</link><description><![CDATA[The main over-riding theme of yesterday’s session was one of USD strength with a few minor sideshows also playing a part in currency moves. The EUR’s slide, which had begun with a break of key support levels near 1.3440 late in the Asian session, accelerated as Fitch announced a downgrade of Portugal’s credit rating to AA- with a negative outlook. <br />
]]></description><pubDate>Thu, 25 Mar 2010 07:02:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1083</guid></item><item><title>FX Update: EUR breaks lower on talk IMF to be involved in Greece bailout</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1077</link><description><![CDATA[Markets were broadly still range-bound yesterday, despite positive momentum in equity markets in Europe and the US. CHF proved to be the main mover of the day as EURCHF touched new lows below 1.43, despite SNB’s Hildebrand trotting out the familiar SNB line on countering excessive gains in the CHF. The EUR had a brief bounce as German press reported that France and Germany had agreed upon an IMF role in the Greek situation (but note conflicting story on Reuters reporting Merkel said no agreement on a bailout for Greece at the summit). However gains proved short-lived as markets focused more on the longer-term implications for the EU as a whole and the actual Euro-zone framework, and the uncertainty surrounding the announcement.
]]></description><pubDate>Wed, 24 Mar 2010 06:51:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1077</guid></item><item><title>FX Update: Risk stages a second-half comeback yesterday; Where next…..?</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1072</link><description><![CDATA[It was a definite session of two halves yesterday as the risk aversion theme extended early into the European session, only to reverse direction later. The EUR had a quick push lower through 1.35 towards the February lows, but stalled and rebounded strongly as some (relatively) positive comments emerged. With only second-tier data releases out of the US (for the record Chicago Fed Activity was soft at -0.64 versus -0.04 previously), it was left to Wall St to provide direction for currency markets.
]]></description><pubDate>Tue, 23 Mar 2010 06:59:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1072</guid></item><item><title>FX Update:India rate hike takes the shine off commodities; Risk aversion dominates</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1065</link><description><![CDATA[There were no US data releases to dictate sentiment on Friday so early in the session it was left to Canada to pick up the reins. The CPI was higher than expected (more dramatically so on the core inflation reading) and retail sales also beat forecasts so the CAD was well supported early on. However, the first rate hike in a while from India, hiking 25bp to calm an economy that looked to be heading towards overheating, pulled commodities back and the CAD gains soon ran out of steam. As commodities retreated, so commodity-block currencies also fell back and a general mood of risk aversion crept into markets into the close of session. <br />
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]]></description><pubDate>Mon, 22 Mar 2010 06:26:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1065</guid></item><item><title>FX Update: Risk still undecided….Most currencies range-bound in Asia</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1029</link><description><![CDATA[It was another session with very little in the way of data releases to latch on to, so markets were left range-bound again overnight. A general mood of “risk off” permeated through markets for most of the early session, with the JPY and USD benefitting the most. GBP was hammered early in the session as a very weak trade number came on the back of soft RICS report. GBPUSD slumped to a one week low before staging a comeback into the close as risk appetite also reversed. EUR was also under early pressure as ratings agency Fitch was out on the wires saying the UK’s sovereign profile had deteriorated “pretty badly” while Portugal may be downgraded on insufficient fiscal measures. On the Greece front, they added that the current rating was appropriate but in Spain the macro risks remain high. <br />
]]></description><pubDate>Wed, 10 Mar 2010 06:58:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1029</guid></item><item><title>FX Update: Risk appetite lacks follow-through in a lackluster Asian session</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1025</link><description><![CDATA[A muted session overnight with few data releases of note to drive sentiment and direction. EUR was mildly positive at the onset as a result of leftover bullishness from Friday’s move, but barely managed above 1.37 versus the USD before reversing. German industrial production was below forecast (+0.6% m/m vs. +1.0% expected, +1.6% prior) and took some of the shine off the EUR while Moody’s caution on Portuguese banks escalated the slide. GBP was again an under-performer following comments from BOE’s Barker, and came under increasing pressure in the Asian session. <br />
]]></description><pubDate>Tue, 09 Mar 2010 06:50:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1025</guid></item><item><title>FX Update: US Non-farm payrolls seen positive; Risk makes a circumspect start to the week</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1019</link><description><![CDATA[The details of the US non-farm payroll report gave risk bulls the ammunition they needed to drive risk, and risk currency pairs, higher into the weekend. Adjusting the headline -36k number for ex-census workers and weather-linked distortions then some pundits are suggesting that the number translates to a positive closer to 20k, yet pessimists would highlight that the previous month’s data was revised higher ( -26k versus -20k) and average hourly earnings were below forecast at +0.1% versus +0.2%.
]]></description><pubDate>Mon, 08 Mar 2010 06:56:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1019</guid></item><item><title>FX Update: USDJPY rebounds from 3-mth lows amid talk BOJ is on the cusp of further QE measures</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1012</link><description><![CDATA[The USD rebounded overnight ahead of tonight’s non-farm payroll release with the biggest gains recorded against the JPY. US data was a mixed bag with jobless claims and non-farm productivity beating forecasts but pending home sales extremely weak and factory orders below forecast. <br />
]]></description><pubDate>Fri, 05 Mar 2010 06:33:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1012</guid></item><item><title>FX Update: The EUR finds its feet as Greece reveals details of its fiscal austerity measures</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1005</link><description><![CDATA[The details of the Greek austerity plan helped put a floor under the EUR though related comments took some of the wind out of the rebound. While the EU is urging coordinated backing for Greece, Germany in particular still appears reluctant to support. The Greek plan includes a 2% hike in VAT rates, cuts in public sector bonuses, increases in taxes on fuel, tobacco and alcohol as well as a freeze on state-funded pensions for this year. The measures are expected to slash the deficit by €4.8 bln and late in the session Moody’s commented it would maintain their A2 rating if the austerity measures were acted upon. <br />
]]></description><pubDate>Thu, 04 Mar 2010 06:46:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1005</guid></item><item><title>FX Update: EUR rebounds strongly on talk of a Greek austerity plan</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1001</link><description><![CDATA[GBP enjoyed some respite yesterday after the massive sell-off the previous day and passed the baton over to the EUR which endured a rollercoaster ride throughout the session. Early weakness saw the EUR hit a 10-month low before a smart rebound/short-squeeze as news broke of a Greek austerity plan and pledges of EU aid. UK data was marginally disappointing with PMI construction stuck below the 50 mark. <br />
]]></description><pubDate>Wed, 03 Mar 2010 06:53:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=1001</guid></item><item><title>FX Update: GBP pounded to one-year lows amid concerns about politics, debt; M&amp;A/dividend flows</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=994</link><description><![CDATA[The pound grabbed the headlines overnight as it was flattened across the board with a mix of concerns about a possible hung parliament, the BOE meeting on Thurs and talk of a huge M&amp;A deal (AIA/Prudential) all combined to pressure the pound. The push through 1.50 against the USD coincided with a break above 0.90 in EURGBP and pressure on GBP intensified to its lowest since May 2009. Next on the under-performance list was the SEK as the currency paused after its recent meteoric rally after Q4 growth data showed the economy slipping back into recession and Q3 growth was revised lower, back into negative territory. <br />
]]></description><pubDate>Tue, 02 Mar 2010 07:00:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=994</guid></item><item><title>FX Update: Weekend press reports favour the EUR, depress GBP at the initial reaction</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=985</link><description><![CDATA[Despite it being the last trading day of the month, Friday’s session was a relatively subdued affair when compared to previous month- ends. The USD saw some general, but mild, weakness into the end of the month with data points a mixed bag. <br />
]]></description><pubDate>Mon, 01 Mar 2010 06:51:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=985</guid></item><item><title>FX Update: Risk currencies stage a rebound but is it just month-end factors?</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=981</link><description><![CDATA[US data continued to disappoint yesterday with jobless claims pushing back close to the 500 mark after a few weeks of improvement while durable goods orders were also soft when you take out the huge aircraft component. On the headline, orders were up 3.0% m/m but -0.6% ex-transportation. <br />
]]></description><pubDate>Fri, 26 Feb 2010 06:35:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=981</guid></item><item><title>Fx Update: Risk takes a tumble amid growing concerns about Greek rescue prospects</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=976</link><description><![CDATA[In his testimony before Congress, Fed chief Bernanke stuck to the “low rates for an extended period” theme and preserved the relatively dovish rhetoric that has been emanating from Fed speakers since the discount rate hike last week. In the details of his testimony, Bernanke noted that “private final demand does seem to be growing at a moderate pace” although acknowledged that some of the turnover may be short-lived as a result of stimulus and inventory re-build. He reiterated that the jobs market remains “quite weak” and inflation would remain subdued for some time due to the slack in the economy.’ <br />
]]></description><pubDate>Thu, 25 Feb 2010 06:55:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=976</guid></item><item><title>FX Update: After the sharp reversal in risk sentiment yesterday, Asia consolidates</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=968</link><description><![CDATA[Risk appetite performed a full u-turn early in the session yesterday as, at first, German data disappointed and then US data confirmed the direction. The German IFO readings were below forecast in the business climate and current assessment categories and dragged the overall index lower for the first time in almost a year. This was enough to pull EURUSD back from a 1-week high versus the USD while additional pressure was piled on after Fitch downgraded the ratings and outlook for the four largest banks in Greece. <br />
]]></description><pubDate>Wed, 24 Feb 2010 06:58:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=968</guid></item><item><title>FX Update: Currency markets mark time - pondering looming Greece, Bernanke risks?</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=964</link><description><![CDATA[Currency markets held tight ranges overnight in the absence of any significant data releases or developments in recent themes. EUR struggled to regain the 1.3650 level and drifted back sub-1.36 while GBP took a brief look above 1.55 but met decent selling pressure and also eased back into the close.
]]></description><pubDate>Tue, 23 Feb 2010 06:52:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=964</guid></item><item><title>FX Update: Risk making a mild comeback as market digests the Fed discount rate move </title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=960</link><description><![CDATA[After the initial knee-jerk reaction to take risk off the table on Friday following the Fed’s surprise discount rate hike late Thursday, risk appetite made a slight rebound into the US session as US data beat forecasts and markets took to heart Fed rhetoric stressing that the Fed move signaled no change in policy. <br />
]]></description><pubDate>Mon, 22 Feb 2010 06:52:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=960</guid></item><item><title>FX Update: Surprise Fed discount rate hike sends US yields, USD higher</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=956</link><description><![CDATA[Fed Chief Bernanke talked about increasing the discount rate to 100bp in his last speech, and the last FOMC minutes showed the Fed had talked about the same at the last meeting, the Fed took the first step towards this goal and surprised the market with a 25bp hike in the discount rate to 0.75% after the US close yesterday.
]]></description><pubDate>Fri, 19 Feb 2010 06:51:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=956</guid></item><item><title>FX Update: A more hawkish FOMC minutes brings the USD back into favour</title><link>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=950</link><description><![CDATA[The USD was back in favour overnight as both economic data and the FOMC minutes pointed towards slightly firmer US yields. US housing starts were above forecast, rising 2.8% in January led by a 9.2% jump in multi-family starts which topped 100,000 for the first time since last August, while industrial production also continued its recent strong run with +0.9% m/m versus the +0.7% consensus. <br />
]]></description><pubDate>Thu, 18 Feb 2010 06:52:00 GMT</pubDate><guid>http://www.tradingfloor.com/en/Pages/home.aspx?blogid=950</guid></item></channel></rss>