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10 Feb 2015
FX flow review – DB
FXStreet (Barcelona) - The Deutsche Bank Team reviews the weekly FX flow data, noting that 17% of the flow was concentrated in USD/JPY post the upbeat US NFP.
Key Quotes
“On back of better than expected US payrolls data, USD/JPY broke through the 118.50 resistance and around 17% of the weekly flows were transacted in the four hour period immediately after the announcement.”
“In contrast, approximately 13% of the weekly flows occurred in EUR/USD over the same period. Volumes in EUR crosses have eased, for example EUR/USD, EUR/GBP, EUR/JPY and EUR/CHF volumes were -14%, -10%, -20% and -39% lower than last week, respectively.”
“For AUD/USD, one-third of the weekly flows occurred on Tuesday as spot gradually retraced back to 0.78 (pre RBA announcement) at close of the London session.”
“Finally, EUR/CHF weekly volumes have dropped further – currently realizing in the 4th percentile versus the five year history.”
Key Quotes
“On back of better than expected US payrolls data, USD/JPY broke through the 118.50 resistance and around 17% of the weekly flows were transacted in the four hour period immediately after the announcement.”
“In contrast, approximately 13% of the weekly flows occurred in EUR/USD over the same period. Volumes in EUR crosses have eased, for example EUR/USD, EUR/GBP, EUR/JPY and EUR/CHF volumes were -14%, -10%, -20% and -39% lower than last week, respectively.”
“For AUD/USD, one-third of the weekly flows occurred on Tuesday as spot gradually retraced back to 0.78 (pre RBA announcement) at close of the London session.”
“Finally, EUR/CHF weekly volumes have dropped further – currently realizing in the 4th percentile versus the five year history.”