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Simon Smith - Articles and news items

The record dollar run

Daily Forex Brief: FxPro / 27 February 2015 / Simon Smith, FxPro

We highlighted yesterday the fall in volatility that had been seen over the past week, but also mentioned that month end brings with it risk of more erratic trading.

Ray of (volatility) Light

Daily Forex Brief: FxPro / 26 February 2015 / Simon Smith, FxPro

With the dust having cleared from the Swiss franc move, the Greece situation having been resolved (at least for now) and twenty central banks having now eased policy so far this year, FX volatility has been falling in the past week, like a caped fallen Madonna from a Brits Award stage.

Being patient for volatility

Daily Forex Brief: FxPro / 25 February 2015 / Simon Smith, FxPro

In the wake of Fed Chair Yellen’s testimony yesterday, the algo and machine readable news programs will be set to buy the dollar when the word “patient” is removed from the Fed statement.

It’s all about the rate

Daily Forex Brief: FxPro / 24 February 2015 / Simon Smith, FxPro

Today’s focus will be with Fed Chair Yellen’s testimony to the Senate Banking Committee in Washington.

Not quite over for Greece

Daily Forex Brief: FxPro / 23 February 2015 / Simon Smith, FxPro

The deal on Greece put together during the latter stages of Friday gave the single currency a lift into the weekend; EURUSD moving up above the 1.14 level.

Kicking the Grexit can

Daily Forex Brief: FxPro / 19 February 2015 / Simon Smith, FxPro

The ECB has come to the rescue of Greek banks once again by increasing the cap on ELA from €65b to just over €68b.

Recent sterling strength to be tested

Daily Forex Brief: FxPro / 18 February 2015 / Simon Smith, FxPro

Currency markets have been placid so far this week, in particular the euro which has been taking the negotiations between Greece and Germany in its stride.

Living in continued hope

Uncategorized / 17 February 2015 / Simon Smith, FxPro

The drop in the euro after the collapse of the Greece talks (initially one big figure) looked out-sized given the fact that no-one really expected it to be any different

Euro bets on Greece crumbling first

Daily Forex Brief: FxPro / 12 February 2015 / Simon Smith, FxPro

It was no surprise at all that there wasn’t an agreement for Greece from yesterday’s meeting of finance ministers. Neither side can even agree on what is up for negotiation.

A huge mountain to climb

Daily Forex Brief: FxPro / 11 February 2015 / Simon Smith, FxPro

The Eurozone finance ministers meeting today to discuss Greece looks unlikely to result in a deal, so the best markets can hope for is some sign of progress because so far there have not been any of real substance.

Body blow for Greece

Daily Forex Brief: FxPro / 5 February 2015 / Simon Smith, FxPro

Greece took a bit of a body blow late yesterday as the ECB has made it clear that it is not willing to keep the liquidity flowing or accept the proposed solution from Greece of recalibrating the terms of existing debt structures and thus simply lending them more money.

Dollar squeeze could start to hurt bulls

Daily Forex Brief: FxPro / 4 February 2015 / Simon Smith, FxPro

The dollar bull run continues to take a pause for breath and the danger now is that a broader correction could ensue squeezing what is a very crowded trade.

A tentative Fed

Daily Forex Brief: FxPro / 29 January 2015 / Simon Smith, FxPro

Last night’s FOMC turned out to be rather a non-event in the end although going into the meeting a degree of bearishness was expected and this didn’t materialise.

A more dovish FOMC?

Daily Forex Brief: FxPro / 28 January 2015 / Simon Smith, FxPro

Financial markets have settled themselves but we’ve seen some abnormal moves recently with the first being the bounce in the euro following the Greek General Election results and then yesterday the US dollar reacted strangely to better than expected consumer confidence seeing a bout of profit taking.

BOE minutes and employment data could knock sterling

Daily Forex Brief: FxPro / 21 January 2015 / Simon Smith, FxPro

As the World Economic Forum in Davos gets underway businesses, investors and journalists are lining up to debate and get a better understanding of the action taken by SNB last week and what it means for the Swiss economy.