Forex Market Updates 12.08.2014 Risk-on mood continues Stocks gain over 1% in Europe despite further deterioration of Ukraine situation Equity rally continues in Asia Less correlation among assets than previously; currencies moving independently USD generally higher Risk-on mode now does not mean an exit from USD; USD generally higher vs G10 currencies, mixed vs EM as some lagging EM currencies caught up yesterday EUR/USD lower despite higher Eurozone stocks Draghi identified “decline in short-term capital inflows” as one factor for a weaker EUR Less money may be coming into European stocks from abroad = EUR negative NOK, CAD biggest gainers over last 24 hours, but profit-taking started in Asian time – could continue today NZD weakens on disappointing REINZ housing; no sign of bottom Today: Eurozone: German ZEW index expected to be lower = EUR-negative US: NFIB small business survey for July expected to be higher; JOLTS survey for June to show small drop in job openings in payback after large gains in April and May Join us for MORE!!! bit.ly/1lE2lZg
Posted on: Tue, 12 Aug 2014 06:51:57 +0000
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