9 January 2012

FX Weekly: 9th January 2012

  • Oil and Gold again the volatility leaders
  • Market tension continues strongly into 2012 as European debt, US fiscal health, Chinese growth and geo-political tensions in the Middle-East lead the market themes
  • The EUR directed focus last week but it was the high-beta currencies that were the weakest performers overnight after Sunday’s market open
  • Over the past six weeks USD is higher against the Euro and down against JPY, but it has fallen against the higher yielding commodity currencies
  • This week’s macro calendar centres more on Europe and China than the US