[B]Euro Hits Nearly 3-Year Low vs Yen – Market Talk [/B]
24 February 2016, 00:12
17:12 ET - A sign of risk aversion, the euro touched the lowest level against the yen in nearly three years. Besides haven demand for the Japanese currency, analysts say the euro got hit by two factors–weak German business confidence data and worries over Brexit. While the pound has been the main loser on the latter, the weaker tone in the euro reflects concerns over potential economic fallout in the eurozone given the close links between the Continent and the UK. Analysts say soft data bolstered the odds of more actions by the ECB next month with further negative deposit rate on the table, which could weigh more on the euro. The euro dipped to YEN123.08, the lowest intraday level since April 2013. It was recently down 0.9% at YEN123.485. The dollar was down 0.7% at YEN 112.085, near the lowest level since Oct 2014. ([email protected];@minzengwsj)
Yes, thanks for pointing out the typo which I have now corrected.
I am also long EUR/GBP currently > +120 pips. I entered this 2 days ago using the 3 Little Pigs system. Have you ever looked into this system? It is similar to 3 Ducks but the 3 LP uses the 1 Week, 1 Day, and 4 Hr charts.
I’m starting to try it out live. They have a free e-book at forexuseful.com if you want to have a look.
Up-and-Down Session for New Zealand Dollar – Market Talk
24 February 2016, 21:39
1939 GMT - The New Zealand dollar dipped below US$0.66 overnight Wednesday before rebounding. “A night of two halves: Risk aversion extended until the New York session” as oil rebounded the past several hours, sending interest rates higher and the dollar lower, notes Westpac’s Imre Speizer. The kiwi fell from US$0.6630 to US$0.6587 before rebounding to the current US$0.6645. Speizer expects a neutral New Zealand session Thursday, with the New Zealand dollar sticking around US$0.6650. But on tap today is Australia’s 4Q private capital spending, which Speizer notes is often a market mover. ([email protected])
[B]IHS Would Slash U.K. GDP Forecasts After Brexit – Market Talk
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1052 GMT If the U.K. was to vote to leave the EU in June, IHS “could well” cut its 2017 growth forecast to 1.0%-1.5% from 2.5%, and would substantially downgrade its 2H 2016 forecast. A Brexit vote would cause sterling to “fall sharply”, foreign direct investment and portfolio investment flows into the U.K. “would take a major hit” and make current account deficit financing “much more of a problem”. Credit rating downgrades would be likely, business confidence and investment would take a hit, and employment plans reduced. A lower sterling would cause higher inflation and erode consumer spending power. ([email protected])
Did you manage to trigger it manually to add to your bucket load of pips this week?
I caught GBP/AUD before the release - looked a good setup being near range highs and 100HMA. Closed out some for +80 and leaving the rest to run.
Been a weird week. Made a nice % return overall but kicking myself for missing/underestimating quite a few GBP related opportunities and leaving a load of money on the table.
