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- Submitted Feb 23, 2022|From monetamarkets.com
EUR/CHF has become something of a risk sentiment gauge in Europe due to its high exposure to the Russia-Ukraine crisis. The market is trying to understand the ongoing impact of the Russian escalation as the West “keeps it powder” in terms of ...
- Submitted Feb 21, 2022|From monetamarkets.com
This major has been trading a fairly random fashion over the last several months. Highs have not been sustained much above 0.9274, while 0.91 has more or less capped the downside. The simple moving averages highlight this sideways price action with ...
- Submitted Feb 18, 2022|From monetamarkets.com
Markets are in zig-zag mode as random geopolitical headlines determine near-term price action. Safe havens currently battle with more pro-cyclical, growth currencies, but we may not know who wins for some time as skirmishes and diplomatic noises ...
- Submitted Feb 17, 2022|From monetamarkets.com
Safe haven assets are in demand again today as headline havoc hits our screens in full effect. The Ukraine crisis is front and centre as the market driver with the threat of an “imminent” invasion pushing gold up to eight-month highs. The yen is ...
- Submitted Feb 15, 2022|From monetamarkets.com
Sterling has shown some decent resilience against the safe haven bid for the dollar in recent sessions. More peaceful signs from Moscow this morning are also helping risk assets in general, as the greenback moves around its 50-day SMA on a ...
- Submitted Feb 14, 2022|From monetamarkets.com|2 comments
The dollar is enjoying its fifth day of gains in seven as the greenback benefits from the ongoing march to war in the Ukraine and Fed rate hike speculation. The greenback is attracting safe haven flows along with the yen and swiss franc, which will ...
- Submitted Jan 27, 2022|From monetamarkets.com|4 comments
The euro’s post-Fed losses have pulled back from a new low at 1.1134 but the Fed / ECB divergence is in full effect. Fed Chair Powell’s hawkish message has made it clear to any doubters that this time is different, and he is prepared to act. ...
- Submitted Jan 20, 2022|From monetamarkets.com
The tale of the Antipodean currencies this year has been one of underperformance. China risk dominates both AUD and NZD, with the kiwi suffering most on a relative basis. Soft data and the zero-Covid policy in China plus associated restrictions mean ...
- Submitted Jan 18, 2022|From monetamarkets.com
It’s been a relatively quiet start to the week in FX markets with moves limited to less than one standard deviation across majors. But the oil markets continue to advance higher, with Brent crude prices up close to 13% so far this year and over 30% ...
- Submitted Jan 14, 2022|From monetamarkets.com
The aussie has dipped into the red today and is now actually down on the year versus the dollar. The currency major has been whipsawed over the last few weeks. This has been driven by US dollar related volatility on the back of Federal Reserve ...
- Submitted Jan 13, 2022|From monetamarkets.com
It looks like a case of “buy the rumour, sell the fact” price action with regard to the dollar and the multi-decade high in US CPI data yesterday. There’s undoubtedly been a lack of momentum behind the drivers that helped the greenback rally last ...
- Submitted Jan 6, 2022|From monetamarkets.com
AUD and NZD pairs continue to get sold into this week with the aussie especially weak today. Both prop up the major performance table for the year as the more hostile risk environment takes its toll on these risk-sensitive currencies. AUD/CHF ...
- Submitted Jan 5, 2022|From monetamarkets.com
While FX volatility is currently subdued, the oil market is enjoying a strong start to 2022 after prices spiked lower a month ago. Omicron fears took Brent prices down from around $82 to the early December low below $66. But crude has recovered well ...
- Submitted Jan 4, 2022|From monetamarkets.com|1 comment
It’s been a busy and buoyant start to the new year with risk sentiment most definitely positive amid rising rates. Omicron is now seen as manageable and a background setting rather than a primary driver of markets. Although record infections will ...
- Submitted Jan 3, 2022|From monetamarkets.com|1 comment
Sterling enjoyed the holiday period as it rivalled the aussie as the leading G10 currency. There was some relief in the UK that the new Omicron variant won’t lead to severe restrictions, even allowing for record infections. After the surprise rate ...
- Submitted Dec 31, 2021|From monetamarkets.com|3 comments
This pair has had quite a ride in recent months. The steep descending bear channel during October posted a multi-month low at 1.5354. But the long-term bottoms from February and March at 1.5252/70 held. Bullish divergence was seen on the daily RSI. ...
- Submitted Dec 28, 2021|From monetamarkets.com|1 comment
The holiday period is a traditionally low-volatility period for FX, even as the Santa rally in equities plays out. The broader market tone is constructive, guided by generally positive Omicron headlines. This is seeing the safe haven yen ...
- Submitted Dec 24, 2021|From monetamarkets.com|2 comments
Sterling has been enjoying life in the build up to the holiday period and is vying with AUD as the leading G10 currency this week. There is some relief that risks around the new Omicron variant are now more manageable and won’t lead to severe ...
- Submitted Dec 23, 2021|From monetamarkets.com
This pair has been a bit messy over the past few months as central bank divergence has given way to rallying commodities, especially iron ore, being one of the main drivers. Positioning too, of speculators and the big players has also played a part ...
- Submitted Dec 17, 2021|From monetamarkets.com|9 comments
The BoE surprised many yesterday, including us, with their 15bp rate hike. It was a coin toss before the meeting with rising inflation and a strong labour market forcing the issue at some point. But when the voting pattern goes from 2-7 in the prior ...