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.
27 February 2012 (Updated 13:43 CET)Daily Currency Trends
| EUR | Gave up some of its gains from a strong rally on Friday, on a general softer risk environment on Monday. Forex investors cited Eastern Europeans selling and a reported options expiry at 1.3400. EUR was down more than 0.40 percent versus the USD on Monday. | |
| USD | USD was well bid versus its major rivals, helped by a downbeat risk tone on Monday, but pared its gains versus the JPY. USD hit a new 9-month high versus the JPY on Monday, and broke a key level represented by an Ichimoku cloud on the weekly chart. But the USD eased back as forex traders took profits on their strong recent gains, pushing it more than half a percent lower against the JPY. | |
| GBP | Dipped versus the USD on Monday, but stayed well within sight of a 3-1/2 month high. Forex investors are expecting stronger data from the UK this week which will likely dampen expectations for more easing and push GBP to more gains. It was up versus the EUR and CHF, but under pressure against the JPY. | |
| CHF | Tracked the EUR lower, and pared some of its recent gains versus the USD. CHF is down more than 1 percent versus the JPY and more than 0.50 percent against the USD. | |
| JPY | Staged a strong recovery after opening lower on Monday. It hit a 9-month low versus the USD earlier in the day, but is up more than half a percent by the time of writing. It was favored by profit taking on USD/JPY positions and EUR/JPY selling by Japanese exporters. Despite today's comeback forex investors are expecting the JPY to come under renewed pressure in the coming days. | |
| CAD | Under pressure against the USD and JPY as risk appetite was softer on Monday. CAD fell 0.40 percent to the USD and almost 1 percent to the JPY. It was also on the losing end versus its commodity-linked counterparts. | |
| AUD | Gained against all of its 'riskier' counterparts but was weighed by muted risk sentiment versus the USD and JPY. | |
| XAU | Weighed by a stronger USD on Monday. Down almost 0.30 percent. | |
| NZD | Also lower against the USD and JPY, and slightly in the red versus the AUD. | |
| XAG | Tracked most USD denominated assets lower on Monday, and fell more than half a percent to almost $35. |
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