Intraday Analysis from FXMarketAlerts.com
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FX eye any updates on Pakistan political situation. Focus on any SNB intervention in EUR/CHF after the sharp fall through key 1.5000 options handle to 9-month lows of 1.4910, low since March 12 - 1.4743- where SNB intervened aggressively in both EUR/CHF to 1.5335-40, USD/CHF to prevent CHF from appreciating too much vs EUR and thus affect deflation and economy. USD/CHF at 1.0409-12, eye yest's 3-half month highs of 1.0509. EUR/USD eye German IFO due at 0900GMT, FORECAST sees 94.1 from 93.9, any weaker number to see more EUR sales. Good to watch ECB VP Lucas Papademos comments at 1000GMT - on Financial Stability review, given the recent concerns over Greece after downgrade and Austria banks. Could see more downside in EUR. EUR hit 3-half mth lows 1.4304 yest, low since Sept 7 1.4300, and 1.4305 today on EUR/CHF sales before edging up on Asian sovereign, real money, Europeans buying to 1.4412, mkt eye 1.43 options. WL
