Forex

Good Morning:

Good Morning:

The GBP rose to a 5 month high-running through the 1.56 level before settling back into the 1.55 handle.  The positive news out of the UK may not be sustainable-but the bulls are in control for the time being.
EUR/USD traded around the 1.30 handle most of the session.  The pair stalled at 1.3041 before settling in to a narrow range.  JPY was stronger overall.  As sentiment rises that the global economic recovery is slowing, investors looked to the safety of the JPY versus higher-yielding assets.

Good Morning:

The JPY  rose as it benefited from a pick  up in risk aversion from the markets in general.  GBP stayed strong after Friday’s better than expected growth data, moving the pair into the 1.55 handle.
The euro stayed firm after Friday’s stress test results from the regions banks.  Only 7 out of 91 banks tested are in need of obtaining additional capital.

Asian equity markets were higher-European markets have given up earlier gains and are now in negative territory.
US Futures are also lower at this time.

Good Morning:

Good Morning:

The Eur/USD rose to a high of 1.3028 during early European trading as the markets speculate that the Eu’s stress test of the regions banks will be positive.  The results are expected to be released this Friday.  Another positive result for the EU was that the Spanish T Bill auction this morning sold off the entire 6 billion euros that was allocated for the 6 month instrument-and 12 month bills had a lower yield than last month.  Is this a sign that the Southern European credit markets are regaining their balance? 

Good Morning;

I have been out of town for the past few days-and the markets have sure changed course.

Midday Forex Commentary looks at the market as the trend move consolidates