Boston eFX 16:44 GMT December 16, 2011
Subject: France Rolls Out Big Guns in Spat With U.K. (video)
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The Bank of France governor and now the French finance minister claim that the U.K. should be the country to lose its highly-prized triple-A credit rating, not France. Dow Jones's William Horobin discusses this undiplomatic exchange.
France Rolls Out Big Guns in Spat With U.K. (video)
Boston eFX 02:22 GMT December 16, 2011
Subject: EUR/USD Daily Asia Outlook 12/16
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(Dow Jones via eFXnews) EUR/USD - to consolidate in higher range. EUR/USD undermined by chronic euro-zone fiscal woes; fears of euro-zone recession; worries that S&P will downgrade France and most other euro-zone countries; comments from IMF chief Lagarde said that the sovereign-debt crisis requires action by countries outside of the European Union and that the global economic outlook is "quite gloomy". But euro sentiment soothed by strong demand at Spanish auction of 4-, 9- and 10-year bonds (country sold total of EUR6.028 billion in bonds against its target range of EUR2.5-EUR3.5 billion); surprise rise in euro-zone PMI to 47.9 in December from 47.0 in November (vs forecast for drop to 46.5); drop in USD funding costs for euro-zone banks (3-month EUR/USD cross-currency basis swap last around minus 122 bps vs minus 142 bps late Wednesday). EUR/USD downside also limited by sovereign demand for euro; positions adjustment before weekend.
Data focus: 1000 GMT euro-zone October trade balance.
EUR/USD daily chart ....
EUR/USD Daily Asia Outlook 12/16 (full story)
Boston eFX 02:22 GMT December 16, 2011
Subject: USD/CAD Daily Asia Outlook 12/16
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(Dow Jones via eFXnews) USD/CAD - to consolidate in lower range. Undermined by dissipating investor risk aversion. But USD/CAD losses tempered by soft commodity & oil prices (Nymex crude settled down $1.08 yesterday at $93.87/bbl), persistent worries over euro-zone financial crisis; positions adjustment before weekend. Data focus: 1230 GMT Canada October international transactions in securities.
USD/CAD daily chart .....
USD/CAD Daily Asia Outlook 12/16 (full story)
Boston eFX 02:22 GMT December 16, 2011
Subject: GBP/USD Daily Asia Outlook 12/16
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(Dow Jones via eFXnews) GBP/USD - to consolidate in higher range. Supported by subdued investor risk aversion. But GBP sentiment dented by bigger-than-expected 0.4% drop in UK November retail sales (vs minus 0.2% forecast). GBP/USD topside also limited by persistent worries over euro-zone financial crisis; positions adjustment before weekend.
Daily chart ......
GBP/USD Daily Asia Outlook 12/16 (full story)
Boston eFX 02:22 GMT December 16, 2011
Subject: USD/CHF Daily Asia Outlook 12/16
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(Dow Jones via eFXnews) USD/CHF - to trade with risks skewed lower after hitting 10-month high of 0.9548 yesterday. CHF stronger yesterday after Swiss National Bank made no move to weaken CHF further at policy meeting and maintained the CHF1.20-per-euro floor. USD/CHF also 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; positions adjustment before weekend.
Daily chart ......
USD/CHF Daily Asia Outlook 12/16 (full story)
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