Forex Flash: Risk appetite doesn´t wait for the ECB or BoE – BBH
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EUR/USD
FXstreet.com (Barcelona) - Brown Brothers Harriman analysts have taken a look at the mornings price action ahead of today's key central bank meets.
They write, "The dollar and yen are broadly weaker as news of strong Chinese exports helped lift market sentiment. The dollar is once again trying to establish a foothold above JPY88.00. While some resistance is expected near the recent high ~JPY88.40, many look for a move toward JPY89.20 over the next week, ahead of the January 21-22 BOJ meeting. EURUSD is trading near $1.31 as the positive news stream carried over to Europe. France reported better than expected industrial output figures and the Spanish and Italian bond auctions were well-received, sending yields sharply lower."
They continue to explain that, "The US Treasury market is snapping a four-day advance as the safe haven appeal of core bond markets has lost some lustre today. The MSCI Asia Pacific index was up 0.8%, most European indices are higher, and S&P futures are pointing to a 0.2% higher open."
They write, "The dollar and yen are broadly weaker as news of strong Chinese exports helped lift market sentiment. The dollar is once again trying to establish a foothold above JPY88.00. While some resistance is expected near the recent high ~JPY88.40, many look for a move toward JPY89.20 over the next week, ahead of the January 21-22 BOJ meeting. EURUSD is trading near $1.31 as the positive news stream carried over to Europe. France reported better than expected industrial output figures and the Spanish and Italian bond auctions were well-received, sending yields sharply lower."
They continue to explain that, "The US Treasury market is snapping a four-day advance as the safe haven appeal of core bond markets has lost some lustre today. The MSCI Asia Pacific index was up 0.8%, most European indices are higher, and S&P futures are pointing to a 0.2% higher open."
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