Daily trading commentaries

Trading commentaries and briefings from the leading FX specialists, market analysts, traders and dealers.

Minutes from Bank of England MPC meeting released

22 February 2012, Mark O'Sullivan, Currencies Direct
For what seems like an age, something that had nothing to do with Greece was released onto the markets this morning with the minutes from the most recent Bank of England MPC meeting.

Political instability down under could rock the Aussie

22 February 2012, Michael Derks, FxPro
Last night’s resignation by Foreign Minister (and ex-Prime Minister) Kevin Rudd has further inflamed political tensions within his Labour Party over who should lead it into the next election.

Yen primarily a rates story

22 February 2012, Michael Derks, FxPro
The yen has continued to weaken since last week’s surprise move from the BoJ, but it’s not simply as a result of the BoJ’s decision to further expand its bond-buying program.

Euro gains anything but spectacular

22 February 2012, Richard Driver, CaxtonFX
The euro traded robustly in the wake of the news that Greece will receive a second bailout and avoid defaulting next month.

Rally falters on back of Greek bailout

22 February 2012, Simon Denham, Capital Spreads
The rally seems to have stalled for now as investors try to work out whether the Greek bailout is good for all of us or bad.

Risk focus moves to the ECB

22 February 2012, Michael Derks, FxPro
Tuesday followed an all too familiar pattern, namely markets becoming immune to setbacks ahead of the event, and then slumping once the deal on Greece was finally announced.

No breakthrough for the euro

22 February 2012, Mark Deans, Moneycorp
The terms of the bailout deal announced yesterday, which involve a permanent team of inspectors in Athens and external control of the country's cash, make Greece a wholly-owned subsidiary of Germany in all but name.

EUR struggles to extend gains in the Greek deal aftermath

22 February 2012, Andrew Timothy Robinson, Saxo Bank
With the Greek deal supposedly done and dusted, markets now have to find something else to focus on near-term and, judging by the ranges, inspiration is in short supply.

Excitement around Greek deal evaporates

22 February 2012, Mark Bolsom, Travelex
Initial excitement around Greece’s latest rescue loan quickly evaporated on Tuesday as investors fret Athens will find it almost impossible to execute certain measures.

Growing risk fatigue

22 February 2012, Michael Derks, FxPro
More fragments of good news in the UK. Not for the first time, the UK sits somewhere between the US and what we are seeing in Europe as a whole.

More fragments of good news in the UK

21 February 2012, Michael Derks, FxPro
Not for the first time, the UK sits somewhere between the US and what we are seeing in Europe as a whole.

Buy the hype, sell the type

21 February 2012, Michael Derks, FxPro
A bastardisation of the ‘buy the rumour, sell the fact’ expression, but nonetheless entirely accurate in this instance.

Public sector involvement potentially worthless

21 February 2012, Michael Derks, FxPro
The big focus in recent weeks has been the private sector involvement in the latest Greek aid package, but it’s the part played by the public sector that is far more interesting.

Latest Greek deal will unravel very quickly

21 February 2012, Michael Derks, FxPro
This latest Greek debt deal will unravel very quickly, despite the pangloss that European leaders will undoubtedly attempt to wrap around it.

Greece deal finally in place

21 February 2012, Richard Driver, CaxtonFX
Eurozone finance ministers have finally struck a deal on granting Greece a second bailout worth €130bn, with the aim of cutting the country’s debt to GDP to 121% by 2020.