Archive - February, 2017

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EURUSD - Current Price $1.05928 EURUSD saw an early dip to $1.0570 lows, but there has been short-covering since with the pair currently trading back to around unchanged in a relatively small range. Despite some decent data out of the Eurozone, any major recovery attempts look fragile, with the single currency continuing to be dogged by geopolitical concerns. Looking ahead, University of Michigan sentiment and US New Home Sales are just about all we have to look forward to on the sched…

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European equities opened higher after fresh record peaks from their US counterparts, but have pared initial gains, with both the FTSE and the DAX now treading water marginally above parity. As such, core EU debt has pushed ahead, led by German paper, with another record low for the Schatz and the 10-year yield at its lowest since early January. This despite firm IFO numbers, with all components topping expectations while pan-Eurozone CPI matched expectations. An underwhelming German July 204…

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EURUSD - Current Price $1.0509 (-$0.0028) EURUSD is on the back foot this morning, tumbling from the mid-$1.0500s to its lowest level since 11th January due to the political uncertainty surrounding the EU as anti-euro candidates like Marine Le Pen are making strong inroads. The single currency will continue to fall if German IFO comes in weaker along with cooler pan-Euorzone CPI. In terms of technicals, we target support at the 11th January low at $1.0454 followed by the January 4th lo…

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European equities initially chased their US and Asian counterparts higher but have pared back some gains. The FTSE is leading its German counterpart, benefiting from the strong performance in the materials sector after China’s strong January trade report overnight. Elsewhere, oil prices have rallied in the wake of the IEA monthly report, in which they raised their global oil demand and highlighted that OPEC made production cuts in January equal to 90% of the agreed volumes. In fixed, c…

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