TraderWise

G10 Advancers and Decliners vs USD

CHF
0.59

JPY
0.35

EUR
0.31

GBP
0.16

FX markets were choppy in the Asian session, as the thin liquidity amplified small moves. Asian equities were slightly weaker, with Shanghai down -2.0% following yesterday’s drops across Europe and the US . Risk appetite was damaged as rumors of a Coup in Pakistan sent traders into scrambling USD.

Pakistan said Friday that it would seek $4 billion in financial assistance, mostly from the World Bank, the Financial Times reported. Pakistan, a nuclear power and neighbor to Afghanistan, is on the verge of bankruptcy and if it does not receive the assistance it requires, the economy could collapse resulting in political upheaval and social unrest.

G10 Advancers and Decliners vs USD

GBP
0.06

CHF
-0.27

EUR
-0.29

JPY
-0.47

The USD’s gradual recovery in the latter part of yesterday has accelerated at the start of today’s European session, led primarily by a sell-off in EURUSD. After spending much of the Asian session trading sideways in a 30 pip range, EURUSD plunged from 1.4350 levels down to 1.4284 at the European open, prompted by comments from the ECB’s Stark that the EU would not save Greece.

Flooding along the Indus River Valley in Pakistan, beginning in July 2010, seems set to be a pivotal strategic factor in the Northern Indian Ocean and Persian Gulf region.

G10 Advancers and Decliners vs USD

JPY
0.50

GBP
-0.13

EUR
-0.15

CHF
-0.16

FX markets have traded sideways today; as the morning bout of risk aversion on the back of weaker Asian equities soon gave way to risk appetite when European equities began recouping opening losses.

G10 Advancers and Decliners vs USD

JPY
1.00

EUR
0.04

CHF
-0.14

GBP
-0.31

Today’s FX markets were broadly characterized by an early continuation of USD weakness in the Asian session, followed by a gradual USD recovery from the European open, as commodity markets and European equities failed to sustain their previous bullish momentum.

G10 Advancers and Decliners vs USD

GBP
0.39

CHF
0.31

EUR
0.21

JPY
0.19

Risk appetite came back in a big way during the Asian session, as events in the US session were supportive of long risk positions. The FOMC minutes really contained no surprises, but stayed dovish despite going divergence among members.

G10 Advancers and Decliners vs USD

EUR
-0.33

GBP
-0.44

JPY
-0.61

CHF
-0.72

Yesterday’s trading took a dramatic turn late in the European session as the weight of sovereign debt concerns (primarily the possibility that Portugal may pose a greater threat to Eurozone stability than Greece) coupled with higher than expected US claims data knocking the prospects for today’s non-farm payrolls led to a spectacular bout of risk aversion and positions unwinds.

Source: Advanced Currency Markets | G10 Advancers and Decliners vs USD GBP 0.21 EUR 0.18 JPY 0.16 CHF 0.14 Asian equity indices are currently green across the board with European futures also pointing to a higher open. Risk correlated trades have enjoyed a decent recovery in the Asian session, supported by European sovereign yield . . .