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COMMENTARY

• Euro Opens Lower As G7 Fails to Agree on Greece
  Written by Boris Schlossberg
  Last updated 9/19/2011 3:28:26 AM ET
  Risk FX was under pressure at the start of week’s trade after the G-7 meeting in Poland failed to produce any concrete agreement on Greece with the country now only weeks away from possible bankruptcy. The EUR/USD dropped by nearly 150 points testing 1.3650 in late Asian session trade after closing out in New York last Friday at 1.3800.
  0 comments
• EUR/JPY to Resume Downtrend at 106.66?
  Written by Bradley Gareiss
  Last updated 9/16/2011 5:42:15 PM ET
  A bearish Gartley pattern is forming on the EUR/JPY.
  2 comments
• Dear Fed, Desperate Times Call for Desperate Measures?
  Written by Kathy Lien
  Last updated 9/16/2011 5:20:15 PM ET
  Despite the abundance of U.S. data this week, investors have taken their eyes off the dollar. The focus over the past few trading days has been on
  1 comment
• US: Confidence Improves, Investors Dumped Dollars in July
  Written by Kathy Lien
  Last updated 9/16/2011 10:01:47 AM ET
  The month of July was characterized by a massive exodus out of U.S. dollars. If you can remember back to those warm days of summer, the dollar was taking a beating.
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• Euro Awaits EcoFin
  Written by Boris Schlossberg
  Last updated 9/16/2011 5:27:04 AM ET
  With no other major economic data on the calendar attention will turn to the EcoFin meeting today which is being attended by US Treasury Secretary Tim Geithner. The EUR/USD was slightly lower in quiet Friday morning trade ahead today of the key EcoFin meeting as currency markets awaited fresh policy initiatives from European fiscal authorities regarding the ongoing credit crisis amongst the region’s periphery economies. The euro was pressured earlier in the session on fears that Moody’s which put Italy on a watch three months ago would in fact lower the country’s credit rating, but the agency has not announced anything so far.
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• EU Current Account Widens Adding to EUR/USD Woes
  Written by Boris Schlossberg
  Last updated 9/16/2011 4:31:05 AM ET
  Eurzone Current Account data printed with a much wider gap than the market forecast as the deficit widened to -12.9B versus -5.6B eyed pressuring euro lower at the start of European trade today. The single currency has seen steady liquidation since the end of Asian session falling from 1.3850 to 1.3775 as fears of a possible downgrade of Italy by Moody’s and comments of concern from IMF member Zhu Min added to negative sentiment.
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• EUR/CHF to Face Resistance at 1.2105?
  Written by Bradley Gareiss
  Last updated 9/15/2011 8:07:16 PM ET
  A bearish Gartley pattern is forming on the EUR/CHF.
  0 comments
• Worse Of Both Worlds For The Dollar
  Written by Kathy Lien
  Last updated 9/15/2011 4:53:41 PM ET
  The U.S. dollar sold off against all of the major currencies and its performance along with the rise in equities and slide in gold prices are clearly a reflection of optimism. Rather than alienate and criticize Greece for struggling to achieve their deficit reduction targets, Germany and France have put forward a united front that has made everyone feel less worried about a Greek default.
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• USD: Could Fed be Less Aggressive after Seeing Core CPI?
  Written by Kathy Lien
  Last updated 9/15/2011 8:57:47 AM ET
  When it comes to U.S. economic data, the only factor that needs to be considered is how the economic reports will impact the Federal Reserve's decision to increase or decrease stimulus. Unfortunately this morning's U.S.
  1 comment
• Will USD/JPY Target 75.00?
  Written by Boris Schlossberg
  Last updated 9/15/2011 5:08:32 AM ET
  Risk FX was mildly higher in quiet European trade boosted by better than 1.5% gains in equities in Asia and Europe and growing sense of calm vis a vis Greece as European policymakers reassured the markets that Europe’s most troubled creditor member will receive the necessary funds to avoid a possible bankruptcy. The EUR/USD rallied to within 10 points of the 1.3800 figure before seller repelled the move.
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• SNB Reaffirms the EUR/CHF peg
  Written by Boris Schlossberg
  Last updated 9/15/2011 4:02:14 AM ET
  It its quarterly policy statement today the SNB reaffirmed its commitment towards defending the EUR/CHF 1.20 exchange rate in order to prevent further appreciation of the franc and offered a a rather dour assessment for economic growth in the second half of 2012. The central bank stated that it “will enforce the minimum exchange rate of CHF 1.20 per euro set on 6 September with the utmost determination,” adding,”Even at a rate of CHF 1.20, the Swiss franc is still high and should continue to weaken over time. If the economic outlook and deflation risks so require, the SNB will take further measures.”
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• CAD/JPY to Resume Downtrend at 78.63?
  Written by Bradley Gareiss
  Last updated 9/14/2011 8:28:03 PM ET
  A bearish Gartley pattern is emerging on the CAD/JPY.
  0 comments
• Credit Concerns Continue to Dominate FX Trade
  Written by Boris Schlossberg
  Last updated 9/14/2011 5:06:30 AM ET
  Risk FX recovered some of its losses in early European trade after European Commission President Jose Manuel Barroso said options for the introduction of euro area bonds would soon be presented. Earlier in Asian session high beta currencies came under sustained selling pressure after Moody downgraded Soc Gen and Credit Agricole.
  1 comment
• Downgrade of French Banks Sends Risk FX Lower
  Written by Boris Schlossberg
  Last updated 9/14/2011 2:49:31 AM ET
  Moody’s today downgraded Credit Agricole and Society Generale adding further downward pressure to French banks and sending equities lower in pre European open trade. Moody's cut SocGen's debt and deposit ratings by one notch to Aa3 from Aa2.
  0 comments
• CHF/JPY to Resume Downtrend at 88.40?
  Written by Bradley Gareiss
  Last updated 9/13/2011 8:09:10 PM ET
  A bearish Gartley pattern is forming on the CHF/JPY.
  0 comments