Flows

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July 12, 2024

JPY flows: JPY bids continue with BoJ suspected
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July 12, 2024 2:39 PM UTC

JPY remains well bid, with talk of some official intervention, though no confirmation. Some support likely above 157 initially.

USD flows: Still soft despite strong PPI
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July 12, 2024 1:10 PM UTC

PPI came in stronger thna expected, but the market mood is still dominated by yesterday's CPI

SEK flows: Initially resilient to weak CPI
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July 12, 2024 6:29 AM UTC

Swedish CPI is weaker than expected, mirroring weak Norwegian CPI earlier in the week, but the SEK has barely fallen. SEK downside risks seen, but patience may be required

AUD/USD flows: Mixed sentiment
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July 12, 2024 4:59 AM UTC

Risk sentiment is mixed 

USD/JPY flows: Suspected Intervention and Rate Check
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July 12, 2024 3:14 AM UTC

USD/JPY slumps in the early Asia hours

July 11, 2024

USD flows: Weaker on CPI, more downside seen
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July 11, 2024 12:52 PM UTC

Weaker US CPI puts the USD at risk across the board. JPY has the most upside potential longer term, but AUD and GBP may be the best short term performers.

JPY flows: Extreme JPY weakness; what can turn it?
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July 11, 2024 10:53 AM UTC

The JPY is at record weak levels and continued to make new lows despite narrowing yield spreads and FX intervention. Will the trend ever turn? Risk aversion looks liek the most likely candidate to trigger a recovery which could be huge when it comes

GBP flows: GBP extends gains after strong GDP
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July 11, 2024 6:34 AM UTC

May GDP stronger than expected, GBP closign in on year's highs against the EUR.

AUD/USD flows: Headline Trade Balance Misses but Details Better
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July 11, 2024 4:54 AM UTC

Australian Consumer Inflation Expectations 4.3%

July 10, 2024

GBP flows: GBP up on Pill comments
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July 10, 2024 2:07 PM UTC

PIll comments on the hawkish side, boosting GBP

NOK flows: NOK softer after weaker CPI
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July 10, 2024 6:45 AM UTC

Expectations of Norges Bank easing increase after weaker June CPI, but NOK still look cheap

USD/JPY flows: Resume upward traction
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July 10, 2024 4:55 AM UTC

Japan June PPI +0.2% m/m and +2.9% y/y 

NZD/USD flows: Kiwi sunk on RBNZ's forward guidance shift
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July 10, 2024 4:29 AM UTC

RBNZ kept rates unchanged at 5.5% and suggest inflation approaching target range

July 09, 2024

IMM Commitment of Traders Reports w/e July 2nd
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July 9, 2024 7:53 AM UTC

CHF and CAD shorts still large, JPY shorts approaching recent highs. GBP and NZD longs building

SEK, JPY flows: SEK weakness can extend, JPY weakness pausing
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July 9, 2024 6:45 AM UTC

SEK fell back on Monday and can extend losses. JPY weakness pausing but still lacking a trigger for major recovery. 

USD/JPY flows: BoJ meeting market participants on bond purchase cut
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July 9, 2024 5:19 AM UTC

The Bank of Japan will be holding in-person meetings with market participants this week

July 08, 2024

EUR, JPY flows: EUR bounces after initial dip on French election
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July 8, 2024 9:18 AM UTC

EUR/JPY reached new 32 year highs

EUR flows: EUR slightly softer after French election
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July 8, 2024 6:53 AM UTC

EUR a little softer, mainly versus CHF, after Left Alliance unexpectedly the largest party after the French election. But parliament still looks deadlocked as expected

USD/JPY flows: Labor Cash Earning Remains Below 2%
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July 8, 2024 4:17 AM UTC

Japan May Labor Cash Earning 1.9% y/y with April revised to 1.6% from 2.1%

EUR flows: Hung France Parliament Led to Opening Euro Offers
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July 8, 2024 3:51 AM UTC

EUR/USD gap lower after weekend news on french election

July 05, 2024

USD flows: USD shrugs of mildly weak US employment report
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July 5, 2024 12:50 PM UTC

US emloyment report modestly weak, with lower than expected private payrolls and a rise in unemployment. But USD reverses initial decline

EUR, JPY flows: Weak German data suggest EUR/JPY decline
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July 5, 2024 7:23 AM UTC

German industrial production mirrors weaknes sin orders. EUR/JPY more at risk than EUR/USD

GBP flows: Little impact from election result
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July 5, 2024 6:57 AM UTC

GBP unchanged as Labour wins UK election

GBP flows: Little changed after election exit polls
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July 5, 2024 5:15 AM UTC

Labor wins and conservative likely having fewest seats since founded

USD/JPY flows: Further Correction
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July 5, 2024 4:59 AM UTC

Japan finance minister Suzuki says weak yen is pushing up import costs
Japan May household spending -1.8% y/y (expected +0.1%)

July 04, 2024

EUR, JPY flows: Weak German orders may cap EUR
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July 4, 2024 6:38 AM UTC

German orders weakest since pandemic

USD/JPY flows: Partial Correction
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July 4, 2024 5:35 AM UTC

Some U.S. politics fiasco
Japan M5.4 earthquake off Chiba prefecture

AUD/USD flows: Headline Trade Balance Misses but Details Better
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July 4, 2024 2:44 AM UTC

Australia May Trade Balance AUD 5773m, expected 6678m while both export and import improves.

July 03, 2024

USD flows: Softer on ISM
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July 3, 2024 12:52 PM UTC

USD lower on weaker ISM

JPY flows: More new lows, levels are extreme
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July 3, 2024 7:14 AM UTC

JPY declines continue with no BoJ opposition

USD/JPY flows: Reversing Tuesday's Direction
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July 3, 2024 5:12 AM UTC

Japan June Services PMI 49.4, prior 53.8

AUD/USD flows: Driven by higher retail sales
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July 3, 2024 4:52 AM UTC

Australia May Retail Sales +0.6% m/m, exp +0.2%

July 02, 2024

USD flows: Weaker on Powell comments
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July 2, 2024 1:54 PM UTC

Powell mildly dovish, USD slightly lower

JPY flows: More new lows, but getting overdone?
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July 2, 2024 7:04 AM UTC

JPY hits another new low, Japanese authorities still inactive.

AUD/USD flows: Higher Inflation Expectation
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July 2, 2024 4:34 AM UTC

ANZ Inflation expectations rose to 5.2%

USD/JPY flows: Another high
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July 2, 2024 3:59 AM UTC

Japan finance minister Suzuki and his usual jawboning

July 01, 2024

JPY flows: More new lows, but getting overdone?
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July 1, 2024 11:15 AM UTC

JPY hits another new low but positioning looking a little extended

IMM Commitment of Traders Reports w/e June 25th
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July 1, 2024 8:40 AM UTC

JPY shorts approaching highs seen pre-intervention. CAD and CHF shorts pared but still high

EUR flows: EUR gains after French election
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July 1, 2024 6:56 AM UTC

EUR up after RN wins a slightly smaller than expected victory, but period of deadlock remains the most likely outcome.

USD/JPY flows: GDP Revised Significantly Lower
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July 1, 2024 4:32 AM UTC

Japan Q1 GDP revised to -2.9% from -1.8%

EUR flows: Opening gap was not closed
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July 1, 2024 2:24 AM UTC

France right party made gains in election

June 28, 2024

USD flows: USD little changed after data
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June 28, 2024 12:56 PM UTC

PCE prices on the low side in May, but April revised up.

EUR flows: EUR little changed after European data
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June 28, 2024 6:41 AM UTC

European data much as expected, French election awaited

AUD/USD flows: Beaten by King Dollar
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June 28, 2024 4:59 AM UTC

Positive sentiment and proxy support could not help the Aussie

USD/JPY flows: Escalated rhetoric but no sign of action
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June 28, 2024 4:50 AM UTC

Escalated rhetoric from Suzuki
Tokyo CPI stays above 2%

June 27, 2024

USD flows: USD a bit softer after trade data
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June 27, 2024 1:30 PM UTC

US trade deficit above 100bn and USD weaker, but JPY shows little reaction. 

SEK flows: SEK softer after more dovish Riksbank
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June 27, 2024 7:55 AM UTC

Riksbank seeing scope for up to 3 cuts this year. SEK softer, NOK/SEK looks to have the most potential.

JPY flows: Options for the BoJ
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June 27, 2024 7:08 AM UTC

The best plan for the BoJ would be to get the US support to stabilise the JPY. Failing that, intervention is needed soon.

AUD/USD flows: Shrugged off negative sentiment and rode soft USD
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June 27, 2024 4:25 AM UTC

Risk sentiment generally negative 

USD/JPY flows: Longs taking profit
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June 27, 2024 3:48 AM UTC

Japan's Suzuki saying watching FX moves with a high sense of urgency
Japan Chief Cabinet Secretary Hayashi says won't comment on FX levels