Archive for July 20th, 2010

Commodity Currencies in a Buoyant Mood

Tuesday, July 20th, 2010 at 5:12 pm  
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G10 Advancers and Decliners vs USD
EUR 0.56
GBP 0.48
CHF 0.45
JPY -0.31
The US Dollar was weaker this morning as there was a slight uptick in risk sentiment and investors turned to higher yielding assets, this following a day in which the Greenback posted gains against equities, currencies and commodities. Asian equities paint a mixed picture this morning – the Shanghai Composite was 50 pts higher while the Nikkei 225 is 114.50 pts lower. But perhaps the losses on…

Markets Shake-Off Negative News

Tuesday, July 20th, 2010 at 5:12 pm  
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EURUSD was able to shake off yesterday’s Moody downgrade of Ireland and the speculation that a German Bank would fail the stress test to rally to 1.3028. The Hungarian decision to halt talks with the IMF/EU remains risk negative but was not able to weigh on the Euro. While none of the events are on-their-own monumental or unexpected for the Euro, we still believe that the there is a growing…