Archive for July 29th, 2010

Dovish RBNZ Hikes Rates

Thursday, July 29th, 2010 at 1:10 pm  
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G10 Advancers and Decliners vs USD
JPY 0.27
CHF 0.26
EUR 0.12
GBP 0.05
The Yen extended its strength through the Asian session this morning and was higher against most of the majors on a combination of weaker macroeconomic data and selloffs in the equity sector. Starting with the release of the durable goods orders (-1.0% act v 1.0% exp/-0.8% prev) and continuing through to the release of the Fed’s beige book, it was all about weakening sentiment during last night’s…

RBNZ Sounds Dovish But Risk Taking Remains

Thursday, July 29th, 2010 at 1:10 pm  
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Markets are trading in a lethargic manner as participants continue to nervously take on risk-correlated trades. The move toward risk is logical because without the massive sovereign crisis fear hovering over the market like the Sword of Damocles, one needs to consider the fundamentals – particularly monetary policy, as the core driver. Overall, the rate at which central banks are mopping up…