Daily Profiler
Produced every day by our Trading Desk, the Daily profiler aims to provide you with a close insight into the major currencies and to explain current market trends. Part of our fundamental forex analysis, the Daily Profiler is the perfect tool to understand what’s going on behind the scenes.
21 May 2012 (Updated 16:19 CET)Daily Currency Trends
| EUR | Following the unconclusive G8 meetings throughout last weekend, the EUR has remained pressured by Greek woes. Forex investors are starting to price into the market the outcome of a possible Greek exit, by shorting future contracts on EUR. Analysts are starting to evaluate the cost of a Greek exit from the single currency with UBS estimating costs at around€225 bn for European tax payers. | |
| USD | The USD has attracted investor's support as risk-aversion remains. The greenback has also been supported by the US Chicago Fed National Activity Index which came out stronger than previous figures. Actual was out at 0.11% in April versus -0.29% previously. | |
| GBP | The Sterling has traded in negative territory against its peer currencies, the short recovery in the EUR has push the EUR/GBP near its 2-week high. | |
| CHF | Despite that the Swiss Consumer Confidence Index surprised positively, with actual numbers out at -8 versus expectations of -20 and compared to -19 previously, the CHF remained in negative territory against the major currencies. The SNB EUR/CHF floor at 1.20 remained intact. | |
| JPY | The JPY has been on the offer due to speculation that the BoJ may engage in further stimulus as early as this week. | |
| CAD | Even if the WTI oil prices have pared some of the recent losses, the Loonie remained sold off against the antipodean currencies. | |
| AUD | The Aussie took a breather as concerns amongst investors initially eased - and some investors caught short were covering some of their short positions. | |
| NZD | The Kiwi has been back in positive territory against the rest of the majors, supported by stronger Asian equities and some correction of previous losses. |
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