The dollar and the yen firmed on Wednesday, as investors shied away from risk on concerns about weak earnings in the United States due to a slowdown in global growth. The dollar index, rose 0.2 % to its highest since Oct. 1, pushing the euro to $1.28490.

EUR/USD at 1.2862-65, just off the 1-week lows of 1.2835 – with Asian accounts, US funds, real money, sovereign buying on dips in EUR/USD.

AUD/USD as well. But interest still to sell on rallies for break of 1.2800.

EUR/SGD looking offered at 1.5815-25 as EUR, EUR/Crosses – led by EUR/AUD,

EUR/JPY – under heavy selling pressure on ongoing concerns over Eurozone – as echoed by IMF.

EUR/SGD eye break of 1.5800 for 1.5750/1.5700. Focus on MAS semi-annual monetary policy review on Friday for degree of slope and mid=point. USD/SGD at 1.2299-03. Offers 1.2310-20, bids at 1.2280-90 – tight range.

Euro Declines for Third Day Before French, Italian Output Data

The euro fell for a third day amid opinion data will add to evidence that Europe’s failure to resolve its debt concern is weighing on the region’s economy.

Investors should remain bullish on the dollar because issues within the U.S. economy pale in comparison with those in Europe and Australia. The dollar is in a “box” between the important technical level of $1.29 per euro and downtrend levels of $1.3050 to $1.31,

Fed’s Yellen Says Low Inflation, Weak Economy Explain Low Yields

Federal Reserve Vice Chairman Janet Yellen said low inflation and a weak U.S. economy have pushed treasury yields lower.

Depositors Fleeing Euro Get Negative Rates at State Street

State Street Corp. and Bank of New York Mellon Corp., two of the world’s biggest custody banks, will charge depositors to hold Danish kroner and Swiss francs as customers seek refuge from the concern-stricken euro.

Pound Snaps Seven-Day Drop Versus Euro on Merkel Greece Pressure

The pound advanced against the euro, ending the longest run of declines in almost three years, as German Chancellor Angela Merkel maintained pressure on Greece to meet austerity pledges.

 

Shayne Heffernan

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.Read the Terms of Service

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