USD, EUR, JPY, CHF flows: JPY under pressure as risk sentiment recovers

April 22, 2024 6:56 AM UTC

USD/JPY and EUR/JPY testing the highs. EUR/USD steady

GBP, EUR, JPY, CHF flows: GBP little changed after retail sales, scope for risk recovery

April 19, 2024 6:33 AM UTC

UK retail sales remain quite flat, GBP little affected. Risk sell off overnight may be further reversed with tension dissipated

USD, EUR, CHF, JPY flows: USD firm, risk appetite recovering, JPY weak

April 15, 2024 6:56 AM UTC

Market seeing Iran attack on Israel as less bad than feared, risk appetite edging up, JPY weakening 

EUR, USD, CHF, JPY flows: CHF and JPY gain ground as yields and equities fall

April 12, 2024 1:13 PM UTC

Declining yields and equities in both Europe and US putting JPY and CHF on the front foot

USD, CHF, EUR, JPY flows: Risk negative tone overnight could extend

April 5, 2024 7:08 AM UTC

Risk sentiment turned negative overnight on talk of an Iranian attack on Israel. Some scope for extension, with such an attack a real possibility.

CHF, AUD, JPY flows: CHF lower after CPI

April 4, 2024 6:59 AM UTC

Another big downside miss in Swiss CPI weighs on the CHF

CHF, NOK flows: CHF weak, NOK strong as value makes a comeback

April 3, 2024 6:58 AM UTC

CHF/NOK sees big decline as value starts to become a factor

CHF, AUD flows: CHF soft, AUD has recovery scope

March 26, 2024 7:57 AM UTC

CHF increasingly the preferred funding currency. AUD has scope for recovery given extended short positioning

CHF flows: CHF drops sharply on SNB rate cut

March 21, 2024 7:48 AM UTC

The SNB cut the policy rate 25bps. This was only seen as an outise chance before the meeting so the CHF has weakened and is likely to remain under pressure, although valuation only looks dramatically out of line against the JPY

SEK, CHF, JPY flows: SEK slips on CPI, CHF weak

March 14, 2024 7:42 AM UTC

SEK lower after softer CPI, NOK/SEK still has upside scope. CHF the favourite funding currency in current risk positive market

JPY, CHF flows: CHF recovering after CPI but gains to be short-lived

March 4, 2024 8:04 AM UTC

CHF gains on slightly smaller than expected decline in Feburary CPI, but CHF downside still favoured with CHF/JPY the best value trade.

JPY flows: JPY soft but approaching buying area

January 11, 2024 7:47 AM UTC

US CPI will be the main focus today, but the main FX theme this week has been JPY weakness, notably on the crosses. The weakness in the Japanese labour cash earnings data yesterday helped trigger renewed JPY weakness and some further decline in JGB yields.  Earnings growth fell to 0.2% y/y, the low

JPY flows: JPY soft as earnings data weakens

January 10, 2024 9:27 AM UTC

The weakness in the Japanese labour cash earnings data overnight helped trigger renewed JPY weakness and some further decline in JGB yields.  Earnings growth fell to 0.2% y/y, the lowest since December 2021, and given the higher rate of inflation now this implies a significantly negative path in re

EUR, CHF, JPY, AUD flows: AUD recovers, EUR and CHF vulnerable

January 9, 2024 8:16 AM UTC

A fairly quiet overnight session with Tokyo CPI dropping in line with market expectations, though still above the 2% target, with the ex-food and energy measure stubbornly high. USD/JPY initially fell back after the data but recovered to Asian opening levels by European open. AUD was fimer on the ba

AUD, CHF, JPY flows: AUD dips, CHF firm

January 8, 2024 7:50 AM UTC

The weakness in Chinese equities due to the bankruptcy of the Chinese wealth manager Zhongzhi announced over the weekend is likely to keep the riskier currencies on the back foot in early trade, particularly the AUD.  Zhongzhi was exposed to the Chinese property sector, and while its demise is not

EUR/USD, GBP/USD, USD/CHF flows: USD/CHF Leads the Europeans

December 28, 2023 8:19 AM UTC

European trading has seen a soft start for the USD, as sentiment and end of year flows keep the USD on the defensive.  While the main short-term focus is the Asia surge in the JPY, the USD also remains soft against European majors.  Once again USDCHF is moving ahead of EURUSD and GBPUSD, with EURC

EUR/NOK, EUR/CHF, CHF/JPY flows: NOK up on Norges Bank hike, CHF vulnerable vs JPY

December 14, 2023 9:14 AM UTC

Norges Bank has surprised with a 25bp rate hike to 4.5%. The market consensus was for rates to be left unchanged at 4.25%, but it was a close call, with around 40% of forecasters calling for a hike. EUR/NOK lost around 1% on the news, but was already significantly lower from yesterday, having fallen