Andrew Timothy Robinson, Saxo Bank

Trading commentary: Saxo Bank

Andrew Timothy Robinson, FX-specialist, Market Strategist, Saxo Bank

The JPY short squeeze is on. Market moves a blast from the past

23 May 2013
The old market pattern of USD strong and JPY stronger has come back with the biggest downdraft in risk appetite in recent memory.

GBP weakening again. JPY awaits Kuroda press conference

22 May 2013
The market is bidding up Euro’s across the board as GBP, CHF and JPY were all weak yesterday. Kuroda’s press conference needs to feed the hungry JPY bears or we risk consolidation soon.

Market treading carefully ahead of BoJ and Bernanke

21 May 2013
We’ve see the recent trend in USD strength backing off over the last couple of days ahead of Bernanke’s testimony before Congress tomorrow, though the JPY is on the defensive again ahead of tonight’s BoJ meeting.

USD gone too far for now? Key week for JPY and USDJPY

20 May 2013
The market is trying to decide whether the US dollar has bitten off more than it can chew this week. Meanwhile, the Japanese government has issued JPY-supportive comments – these could be a game changer.

JPY crosses to get up to some mischief next week?

17 May 2013
PY crosses are losing momentum in places, and what can’t continue to go up, may have to go down first. Meanwhile, the USD rally remains very much on track outside of a possible USDJPY hiccup soon.

Aussie continues its plunge, while GBP tries to put up a fight

16 May 2013
The Aussie can’t catch a bid and a key trend-line in AUDUSD is in play this morning. Meanwhile, sterling is trying to put up a fight after yesterday’s BoE inflation report.

JPY crosses to get a nosebleed? EURUSD downside opens up.

15 May 2013
USDJPY is getting a bit lonely as the JPY sell-off momentum is beginning to fade elsewhere – correction time soon? Meanwhile, EURUSD breaks local support on the weak German GDP data.

EURUSD still trying to quit the 1.3000 habit. USDJPY dips

14 May 2013
EURUSD slipped back above 1.3000 overnight as a USDJPY dip had the greenback on the defensive overnight. This morning we look forward to the German ZEW for direction.

USD on the cusp – can it make the break?

13 May 2013
The US dollar is nearing longer term levels of strength after making a big statement last week – can it follow through to a new highs?

US dollar just said something – we should listen

10 May 2013
The greenback made a sweeping statement yesterday that could prove a signal for strong further gains – as USDJPY broke 100 late yesterday. Now it’s up to EURUSD and the 1.3000 level to build the case for a lasting USD revival.

AUD and NZD rush higher on jobs data. BoE on tap.

9 May 2013
Both of the Antipodeans report much better than expected job growth, catching the short-term market off guard and squeezing shorts. But for Australia in particular, the significance of the data is questionable.

NZD plunges on RBNZ intervention. EURUSD remains in range limbo.

8 May 2013
The RBNZ recently intervened as it felt the kiwi is overvalued as the ranks of Abenomics’ enemies swell. Meanwhile, the EURUSD remains in the desperately boring 1.3050-1.3150 zone for the moment.

RBA cuts – is AUDUSD ready to have a go at parity?

7 May 2013
AUDUSD has probed below 1.0200 support as the RBA cuts the cash target to a new multi-decade low. Meanwhile, USDJPY continues to tease on whether it wants to have a go at that 100.00 level.

Cat and mouse and USD and Nonfarm Payrolls

3 May 2013
The USD has made the beginnings of a comeback – but must stand tall after whatever the US employment report dishes up to seal the deal. AUD fundamentals continue to crumble.

ECB better ease or else – EURUSD set for 1.3000 test again

2 May 2013
Euro looks set to weaken just about any way I can slice it in the wake of today’s ECB meeting, but how and against which currencies is the key question. Meanwhile, AUD is pushing at key support.