Boston eFX 02:37 GMT January 4, 2012
Subject: EUR/USD Daily Asia Outlook 01/04
Reply
(Dow Jones via eFXnews) EUR/USD - to trade with bullish bias. Buoyed by positive global risk sentiment, sovereign demand for euro; bigger-than-expected 22,000 drop in number of jobless Germans in December for a post-reunification low unemployment rate of 6.8%. But EUR/USD topside limited by potential sovereign rating downgrades in the euro zone; worries over euro-zone debt crisis as Italian government bond yields hover just below the critical 7% level deemed unsustainable for the country, Spain's recent warning that its budget deficit could exceed earlier forecast of 8% of GDP, while Greece's recession threatens a deal with private bondholders to reduce the country's debt load by 50%.
Data focus: 0855 GMT German December services PMI, 0900 GMT euro-zone December services PMI, 1000 GMT December flash estimate euro area inflation.
EUR/USD daily chart....
EUR/USD Daily Asia Outlook 01/04 (full story)
Boston eFX 02:36 GMT January 4, 2012
Subject: GBP/USD Daily Asia Outlook 01/04
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(Dow Jones via eFXnews) GBP/USD - to trade in higher range. Supported by stronger investor risk tolerance; surprise rise in UK December CIPS manufacturing PMI to 49.6 in December (vs forecast for drop to 47.3) from 47.7 in November. But GBP/USD topside limited by worries over euro-zone financial crisis.
Data focus: 0930 GMT UK November BSA savings & mortgage lending figures, December CIPS construction PMI.
Daily chart ....
GBP/USD Daily Asia Outlook 01/04 (full story)
Boston eFX 02:36 GMT January 4, 2012
Subject: USD/CHF Daily Asia Outlook 01/04
Reply
(Dow Jones via eFXnews) USD/CHF - to trade in lower range. Undermined by broadly weaker demand for USD as global risk sentiment improves. But USD/CHF downside limited by expectations of Swiss National Bank's CHF-selling intervention.
Daily chart ....
USD/CHF Daily Asia Outlook 01/04 (full story)
Boston eFX 02:36 GMT January 4, 2012
Subject: USD/CAD Daily Asia Outlook 01/04
Reply
(Dow Jones via eFXnews) USD/CAD - to trade in lower range. Undermined by positive global risk sentiment; strong commodity & oil prices (Nymex crude settled up $4.13 yesterday at $102.96/bbl as heightened tensions between Iran and the West raised fears of supply disruptions). But USD/CAD downside limited by worries over euro-zone debt crisis.
USD/CAD daily chart....
USD/CAD Daily Asia Outlook 01/04 (full story)