Forex Flash: 2nd phase of the rush for yield is here - Societe Generale

FXstreet.com (Barcelona) - In view of Sebastien Galy, currency strategist at Societe Generale, "we have moved to a second phase of the rush for yield in which safe haven are suffering the most (CHF, JPY, their curves)."

The pattern of localized asset class correction is set to remain, he adds.

May 16, 2013

Forex: Bearish developments on EUR/USD weekly chart worth watching

The EUR/USD finished the day down 50 pips at 1.2880. It was a busy economic release schedule during the European session, with a number of GDP figures due out which for the most part came in below expectations. However, data out of the US also missed with the NY Empire Fed print coming in at -1.43 vs. 4.00 estimates, and Industrial Production coming in at -0.5% actual vs. -0.2% estimate.

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May 16, 2013

Session Recap: USD rebounds; Nikkei capped below the 15150 mark

Following a weak Asia-Pacific start, the USD has managed to bounce above its initial quote and gains by a small margin against EUR, AUD, GBP, CHF, while still slightly below JPY. The USD/JPY posted a session low at 101.92 while it currently breaks even at 102.22, and EUR/USD printed session highs at 1.2890 and AUD/USD at 0.9914, both now at fresh session lows.

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