Archive for July 23rd, 2010

Markets Await Stress Test Results

Friday, July 23rd, 2010 at 3:58 pm  
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G10 Advancers and Decliners vs USD
GBP 0.29
EUR -0.04
JPY -0.13
CHF -0.21
Asia was well in the green this morning, led by the Nikkei 225 which was up +2.28%. In a week which Asian equities have been particularly vulnerable, a combination of better manufacturing data from Europe, a strong performance for US equities last night, and fresh buying coming in following consecutively lower closings saw Asian stocks rally. Safe havens were experiencing weakness resulting from…

Waiting on the Stress Test Results

Friday, July 23rd, 2010 at 3:58 pm  
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The amount of nervous energy in today’s FX market has already translated into some choppy, range-bound trading. The source is obviously the impending release of the EU bank stress test due to be issued at 16:00 GMT. Today, German IFO data came in much stronger than expected spiking the EURUSD 40 pips rallying up to 1.2965. In the back of our minds, we remember that torrent of support…