Boston eFX 02:41 GMT November 15, 2011
Subject: EUR/USD Daily Asia Outlook 11/15
Reply
(Dow Jones via eFXnews) EUR/USD - to consolidate with risks skewed lower; spotlight on euro-zone 3Q flash estimate GDP due at 1000 GMT (forecast +0.2% on quarter; +1.4% on year). EUR/USD undermined by heightened worries over European banks after Italy's largest bank UniCredit posted record EUR10.6 billion loss in 3Q due partly to Greek debt exposure; Moody's saying EFSF's current lending capacity cannot meaningfully support euro area's large government bond markets; rising fears over Spain's ability to service its debts; investors' doubt over new Italian government's ability to push through deeper fiscal austerity as yield on Italy's 10-year debt rose closer to 7%; German Chancellor Merkel's Christian Democratic Union party passing resolution urging government to establish rules allowing euro states "voluntary" way to exit euro zone without giving up EU membership; fears of euro-zone recession as euro-zone industrial output fell 2% in September for fastest monthly decline in 2.5 years; expectations of rate cut from ECB in coming months. But EUR/USD losses tempered by sovereign demand for euro.
Data focus: 0700 GMT German 3Q GDP (first release), 1000 GMT German November ZEW indicator of economic sentiment, 1000 GMT euro-zone September trade balance,.
EUR/USD daily chart .....
EUR/USD Daily Asia Outlook 11/15 (full story)
Boston eFX 02:41 GMT November 15, 2011
Subject: GBP/USD Daily Asia Outlook 11/15
Reply
GBP/USD - to trade with bearish bias. Undermined by elevated risk aversion; expectations that Bank of England quarterly inflation report due tomorrow may show weaker outlook for growth and inflation, signaling further quantitative easing.
Data focus: 0930 GMT UK October inflation.
Daily chart .....
GBP/USD Daily Asia Outlook 11/15 (full story)
Boston eFX 02:40 GMT November 15, 2011
Subject: USD/CAD Daily Asia Outlook 11/15
Reply
(Dow Jones via eFXnews) USD/CAD - to consolidate with risks skewed higher. Underpinned by mounting risk aversion, weaker commodity & oil prices (Nymex crude settled down 85 cents yesterday at $98.14/bbl).
Data focus: 1330 GMT Canada September survey of manufacturing, September new motor vehicle sales.
USD/CAD daily chart .....
USD/CAD Daily Asia Outlook 11/15 (full story)
Boston eFX 02:40 GMT November 15, 2011
Subject: USD/CHF Daily Asia Outlook 11/15
Reply
(Dow Jones via eFXnews) USD/CHF - to consolidate with risks skewed higher. Buoyed by broadly firmer USD undertone as investor risk aversion intensifies; expectations of Swiss National Bank's CHF-selling intervention; Moody's placing Credit Suisse Group's credit rating on review for potential downgrade.
Daily chart .....
USD/CHF Daily Asia Outlook 11/15 (full story)