USD: AUD, NZD and SEK are paring gains, Risk led.

Feb-13 08:43
  • The Swissy has now taken over the SEK as the best performer in G10 against the Greenback, up 0.59% in early trade.
  • The pullback lower in Risk is likely at play, with the {au}{nz} AUD and the Kiwi slowly edging back in the red against the Dollar.
  • USDSEK has also faded ahead of the noted 10.8000 support, now exchanging hands at 10.8500.
  • For the USDCHF, further downside traction opens to 0.9048.

(Chart source: MNI/Bloomberg).

USDCHF Curncy (USD-CHF X-RATE) 1 2025-02-13 08-35-06

Historical bullets

EQUITIES: BNP put buyer

Jan-14 08:43

Single stock Bank Option, BNP:

  • BNP (19/12/25) 56p, bought for 4.79 in 4.2k.

ECB: Holzman Continues To Argue For Cautious Easing

Jan-14 08:38

Unsurprising rhetoric from ECB hawk Holzmann this morning, speaking at a Euromoney conference in Vienna:

  • "ECB'S HOLZMANN: DON'T THINK WE CAN LOWER RATES TOO QUICKLY, CORE INFLATION IS STILL CLOSER TO 3% THAN 2%" RTRS
  • "*ECB'S HOLZMANN: HAVE A LOT OF CHALLENGES ON ENERGY" bbg
  • "*ECB'S HOLZMANN: HOPE TO MEET 2% INFLATION TARGET BY YEAR-END" bbg

Holzmann expressed some concerns around energy prices in an interview with Kurier on Dec 28: “It could be the case that we take more time before lowering rates again,”...“It’s true, some energy prices are trending upwards again. But there are also other scenarios for how inflation could return, such as a stronger depreciation of the euro.”

EURIBOR OPTIONS: Call fly vs put spread

Jan-14 08:37

ERM5 97.625/97.75/97.875c fly vs 97.4375/97.3125ps, bought the fly for 0.25 and half in 9k.