IntelligentHQ Forex Week In Review In Association with OANDA Corporation
Report by Dean Popplewell
Dean Popplewell has a wealth of forex experience: professional currency trader for 10 years, fixed income trader for four years, and head of the global trading desks at various financial institutions in Canada. Dean is OANDA’s resident currency analyst and has been writingOANDA’s daily forex blog since January 2007 as a way to share some of his forex experience with the OANDA community.
Week in FX Europe Aug 12-17
It has been an uninspiring jobbing week for the single currency. The EUR has been confined to within a tight two cent trading range. Volatility blips have been fueled by strong rhetoric from Merkel, very much backing earlier Draghi comments, a think tank suggesting that a Spanish bond buy strategy was imminent and mixed global data.
EUROPE Week in FX
The Dollar in Motion
The big dollar found its sea legs, at least temporarily, after Friday’s UoM consumer sentiment index and the Conference board’s leading indicators both exceeding the streets estimates. The currency was propelled higher outright to the EUR and was able to add to its gains against most major currencies. With the general lack of liquidity and varying degrees of market participation.
AMERICAS Week in FX
Japan to Claim No 1 From China
The latest US TIC data report showed that both China and Japan boosted Treasury holdings in June. In fact, China’s holdings have dropped -$142.7b from the level at the end of June 2011. Japan went the other way; the country actually increased their holdings by +$237.8b over the same period. It’s no surprise that Japan is getting closer to toppling China as the largest foreign owner of Treasury’s.
ASIA Week in FX
Forex Order Book
A 24-hour summary of open orders and positions
Forex Open Position Ratios