Forex

John J Hardy, Saxo Bank, 03 February 2012

Strong US data sees split market reaction

The US economy supposedly added jobs at a furious rate in December – particularly according to the record job additions seen in the household survey. The kneejerk reaction in the USD was somewhat bifurcated. Read more
278 Views
1 Likes
0 Comments
Mads Koefoed, Saxo Bank, 03 February 2012

Nonfarm payrolls beat handsomely; Unemployment rate declines

The January nonfarm payrolls change surprised even the most optimistic forecaster printing 243,000 while the December number was revised up by 3,000 to 203,000. Great report and a solid start to 2012! Read more
148 Views
4 Likes
2 Comments
Mads Koefoed, Saxo Bank, 03 February 2012

US Employment report preview (NFP, Unemployment Rate)

The monthly US Employment report is only hours away; we take a look at various job indicators ahead of the release. Read more
156 Views
3 Likes
0 Comments
John J Hardy, Saxo Bank, 03 February 2012

Pivotal payrolls day for USD majors

Several of the major USD pairs are at pivotal levels ahead of the US employment report and ISM non-manufacturing survey. The outcome of these key reports could be decisive as major USD pairs are at interesting pivot levels. Read more
854 Views
1 Likes
0 Comments
Nick Beecroft, Saxo Bank, 03 February 2012

UK Services PMI a barn-stormer; More QE on hold

Another strong UK economic release! Is this the first stirrings of hope for growth in 2012 in the UK? One certainly begins to question whether the Bank of England's Monetary Policy Committee will rush into more Quantitaive Easing next week. Read more
84 Views
7 Likes
0 Comments
Mads Koefoed, Saxo Bank, 03 February 2012

Week 6 government bond auctions

The Eurozone takes a bit of a breather next week in terms of government bond auctions with only France (February 6, 14:00 GMT) and Germany (February 8, 10:15) seeing some action. All in all a quiet week for auctions in the Eurozone. Read more
68 Views
3 Likes
0 Comments
Ken Veksler, 03 February 2012

Fancy EURUSD pinball? Circus back in town so bring own helmet!

It was like playing pinball in the EURUSD yesterday - 60/70 point range about 20 times back and forth. Interestingly though the other USD pairs didn’t suffer the same fate. No-one will be keen to get out ahead of the data train this afternoon. Read more
140 Views
2 Likes
0 Comments
Mads Koefoed, Saxo Bank, 03 February 2012

3 numbers to watch today: NFP, ISM Non-Manuf, factory orders

It is time for the mammoth US Employment report again, but ISM Non-manufacturing and factory orders are also on tap today. Read more
75 Views
1 Likes
0 Comments
Ian Coleman - PIA First, First 4 Trading, 03 February 2012

EURUSD has a bullish bias above 1.3086

EURUSD price action from Friday’s high of 1.3235 to Wednesday’s low of 1.3026, has formed a consolidating expanding wedge. This formation has a bias to break to the upside. This bullish sentiment is enhanced by EURUSD posting a higher intraday low. Read more
114 Views
1 Likes
0 Comments
Andrew Robinson, Saxo Capital Markets Pte Ltd, 03 February 2012

Asian markets steady ahead of today's US non-farm payrolls

Asian markets were in limbo ahead of today's key US non-farm payrolls report. Service sector PMIs out of China were not quite as buoyant as the manufacturing side, lending a slight negative bias to trading. Read more
87 Views
1 Likes
0 Comments
Andrew Robinson, Saxo Capital Markets Pte Ltd, 02 February 2012

China's hard landing avoided? Several RBA rate cuts seen soon

January PMI data indicated a hard landing for China could be avoided. February and March data is needed though to confirm this. Australian macro data tends to support the outlook for several rate cuts this year with the first seen in a few days. Read more
105 Views
0 Likes
0 Comments
John J Hardy, Saxo Bank, 02 February 2012

Treading water until tomorrow’s important US data

Markets were zigging and zagging today as EU news tilted to the negative side. We saw a strong US weekly jobless claims report, but tomorrow’s US employment report and ISM non-manufacturing are the next key event risks. Read more
215 Views
2 Likes
0 Comments
Mads Koefoed, Saxo Bank, 02 February 2012

3 charts that mattered today: Bond yields, PPI, US jobless claims

Spain and France see falling borrowing costs, Eurozone producer prices decline and the US labour market continues to improve. Read more
130 Views
1 Likes
0 Comments
Mads Koefoed, Saxo Bank, 02 February 2012

Eurozone PMI Manufacturing points to stall in Q1 2012

Though several European PMIs surprised to the upside in January overall Eurozone PMI Manufacturing is still pointing to a stall. Read more
110 Views
0 Likes
0 Comments
Neil Staines, The ECU Group, 02 February 2012

Glass half-full argument: positive risk sentiment continues

The recent broad theme of an improved risk appetite in financial markets continues and there are a number of reasons for the global economy to feel as if its glass is half full at the current juncture. Read more
118 Views
0 Likes
0 Comments
Ken Veksler, 02 February 2012

Things are well and truly overdone, but is this the end?

The main USD crosses are in consolidation mode, sitting firmly on the precipice of either outright success or disastrous failure. We are either due for an almighty correction or sitting on what is clearly an unsustainable up-trend. Read more
225 Views
3 Likes
0 Comments
Mads Koefoed, Saxo Bank, 02 February 2012

Three numbers to watch today: bond yields, PPI, jobless claims

While we await tomorrow's mammoth US Employment report, there are three things to look out for Thursday, namely the French and Spanish bond auctions, the Eurozone PPI and Initial Jobless Claims. Read more
155 Views
1 Likes
0 Comments
Ian Coleman - PIA First, First 4 Trading, 02 February 2012

USDJPY - Bullish above 76.02

Buyers have emerged on USDJPY at levels marginally higher than 76.00 and the 4 hour trend of lower highs has been broken. Although some selling pressure has been posted in Asia, we think this will be limited. Our call is Bullish above 76.02. Read more
74 Views
0 Likes
0 Comments
Andrew Robinson, Saxo Capital Markets Pte Ltd, 02 February 2012

Asia extends risk rally after Aus trade data beats forecasts

Having seen the smart turnaround in risk appetite during the European session, Asia was given further incentive to extend the rally Thursday with signs that Australia’s export economy continues to grow. Read more
121 Views
1 Likes
0 Comments
Mads Koefoed, Saxo Bank, 01 February 2012

3 numbers that mattered today: Portuguese yield, ADP and ISM

The Portuguese bond auctions and US numbers today where well received by markets with European stocks up 1.6 percent one hour before close and EURUSD up 100 pips. Read more
112 Views
1 Likes
0 Comments
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Trading Floor's Forex Authors
John J. Hardy

John J. Hardy
Head of FX Strategy, Saxo Bank
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Andrew Robinson

Andrew Robinson
FX Analyst, Saxo Capital Markets Pte Ltd
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