Boston eFX 01:11 GMT December 7, 2011
Subject: EUR/USD Daily Asia Outlook 12/07
(Dow Jones via eFXnews) EUR/USD - to trade in higher range. Euro sentiment improved after the FT reported 11th-hour negotiations have begun for a 3-pronged rescue system to present at Friday's EU summit that could include allowing the EUR440 billion EFSF to continue running when the EUR500 billion ESM comes into force in mid-2012 and winning increased support for the IMF to stem the region's debt crisis. EUR/USD also supported by sovereign demand for euro; views that S&P's move to put France, Germany and 13 other euro-zone nations on review for credit downgrades might spur European leaders to work even harder to resolve crisis; stronger-than-expected 5.2% increase in German October manufacturing orders (vs +0.8% forecast). But EUR/USD gains tempered by fears of wider euro-zone recession; expectations of rate cut from ECB tomorrow.
Data focus: 1100 GMT German October industrial production.
EUR/USD daily chart.....
EUR/USD Daily Asia Outlook 12/07 (full story)
Boston eFX 01:10 GMT December 7, 2011
Subject: GBP/USD Daily Asia Outlook 12/07
(Dow Jones via eFXnews) GBP/USD - to consolidate. Supported by subdued investor risk aversion. But GBP/USD topside limited by GBP sales on firmer EUR/GBP cross; expectations of more quantitative easing from Bank of England in coming months.
Data focus: 0001 GMT UK November REC & KPMG report on jobs, 0930 GMT October industrial production & manufacturing output, 1500 GMT November NIESR monthly GDP estimates.
GBP/USD Daily Asia Outlook 12/07 (full story)
Boston eFX 01:09 GMT December 7, 2011
Subject: USD/CAD Daily Asia Outlook 12/07
(Dow Jones via eFXnews) USD/CAD - to trade in lower range. Undermined by dissipating investor risk aversion as optimism grows over efforts to tame Europe's debt crisis, while Bank of Canada said economic growth was stronger than its previous expectations as it kept its overnight rate steady at 1%. USD/CAD also weighed by buoyant commodity & oil prices (Nymex crude settled up 29 cents yesterday at $101.28/bbl).
USD/CAD daily chart.....
USD/CAD Daily Asia Outlook 12/07 (full story)
Boston eFX 01:07 GMT December 7, 2011
Subject: USD/CHF Daily Asia Outlook 12/07
(Dow Jones via eFXnews) USD/CHF - to consolidate. Weighed by broadly weaker USD undertone as investor risk aversion recedes. But USD/CHF downside limited by expectations of Swiss National Bank's CHF-selling intervention; surprise 0.2% monthly drop in Swiss November CPI (vs forecast for 0.2% gain).
Data focus: 0645 GMT Swiss November unemployment.
USD/CHF Daily Asia Outlook 12/07 (full story)