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18 Mar 2013
Session Recap: Cyprus all over the place and EUR/USD below 1.29
FXstreet.com (Barcelona) - Asian session has been all over Cyprus, starting with a plunge in EUR/USD down to 1.29 straight from Friday close around the 1.3075 level, as markets showed didn't like conditions imposed to Cypriot savers, who would have to suffer a levy on deposits from a -9.9% to a -3.5%, still to be decided in parliament. EUR/USD is last at fresh 3-month lows 1.2886, down -1.48% for the week so far.
Local share markets and US futures moved quickly to the downside as well on a new wave of risk-off with Nikkei last -2.23%, Shanghai -1.39%, Hang-Seng -2.22%, and Australian ASX -2.05%, while US bonds spiked to the upside making yields go back around the 1.9% level again, from previous Thursday's highs above 2.06%. Commodities overall fell as well with Oil down to the $92 mark from Fridays close above $93.2. Gold instead broke to the upside on the news above the $1.6k printing highs at $1608, last at $1597 again.
European markets open faces US futures currently at fresh session and 8-day lows, while FTSE and DAX futures point to a lower open down more than -1.5% each. The economic agenda looks soft for the London morning, though headlines popping up on Cyprus deals will be the norm as it has been so during the Asia-Pacific, all focused on the Cyprus bail-out.
Cyprus parliament postpones session to discuss bank levy
Italian parliament reaches agreement on something
Forex: Argentinean “corralito” arrived to Europe
The real agenda for the Cyprus bail out levy?
EUR/USD trading 100 pips lower after Cyprus bank tax
Asian market open
Forex: EUR/JPY dumped below 123.00
Cypriots wealth assault an act of legalized robbery
Forex: EUR/USD keeps flirting with 1.29; soft dip buying so far...
Cyprus likely to extend bank holidays on Tuesday and Wednesday
Forex Flash: Cyprus to trigger unintended consequences across Europe - Westpac
Moody's: Cyprus bailout has negative implications for EU bank creditors
Commodities Brief: Gold rallies above $1.6k on risk-off Cyprus news
Russian Navy to send permanent fleet to Mediterranean – can they get to Cyprus by Tuesday?
Agitation in Euro land as Cyprus savers face wealth destruction
Cyprus faces 'corralito' à la Argentinean
Local share markets and US futures moved quickly to the downside as well on a new wave of risk-off with Nikkei last -2.23%, Shanghai -1.39%, Hang-Seng -2.22%, and Australian ASX -2.05%, while US bonds spiked to the upside making yields go back around the 1.9% level again, from previous Thursday's highs above 2.06%. Commodities overall fell as well with Oil down to the $92 mark from Fridays close above $93.2. Gold instead broke to the upside on the news above the $1.6k printing highs at $1608, last at $1597 again.
European markets open faces US futures currently at fresh session and 8-day lows, while FTSE and DAX futures point to a lower open down more than -1.5% each. The economic agenda looks soft for the London morning, though headlines popping up on Cyprus deals will be the norm as it has been so during the Asia-Pacific, all focused on the Cyprus bail-out.
Cyprus parliament postpones session to discuss bank levy
Italian parliament reaches agreement on something
Forex: Argentinean “corralito” arrived to Europe
The real agenda for the Cyprus bail out levy?
EUR/USD trading 100 pips lower after Cyprus bank tax
Asian market open
Forex: EUR/JPY dumped below 123.00
Cypriots wealth assault an act of legalized robbery
Forex: EUR/USD keeps flirting with 1.29; soft dip buying so far...
Cyprus likely to extend bank holidays on Tuesday and Wednesday
Forex Flash: Cyprus to trigger unintended consequences across Europe - Westpac
Moody's: Cyprus bailout has negative implications for EU bank creditors
Commodities Brief: Gold rallies above $1.6k on risk-off Cyprus news
Russian Navy to send permanent fleet to Mediterranean – can they get to Cyprus by Tuesday?
Agitation in Euro land as Cyprus savers face wealth destruction
Cyprus faces 'corralito' à la Argentinean