Archive for July 21st, 2010

BoJ Meeting Minutes Released; Asian Session Lacks Direction

Wednesday, July 21st, 2010 at 1:20 pm  
Comments Off
G10 Advancers and Decliners vs USD
JPY 0.47
GBP 0.25
CHF 0.18
EUR 0.17
Asia hasn’t been inspired this morning despite a strong close to the US trading session last night (the Dow closed +0.74%). Asian equities have failed to rally and despite technology shares trading higher (boosted in part by Apple’s earnings), the larger Japanese export companies found their shares trading lower as a strong Japanese Yen weakened their future earnings expectations. The release of…

Concern over the EUs Bank Stress Test Grows

Wednesday, July 21st, 2010 at 1:20 pm  
Comments Off

Markets gained a temporary sense of optimism as FX risk-correlated trades recover from yesterday’s sell off and equity markets rally in Asia. Yesterday we saw a sharp reversal – especially in the EURUSD as leveraged players cut their long positions after the pair lost momentum and seemed to run into resistance. EU officials are on the wires talking up the bank stress test due to be released this…