Monthly Archives: July 2011
Global Technical Watch – Quick Charts (July 28)
With the USD maintaining a strong bearish tone following the US Dollar Index’s drop below trendline support early last week, commodity currencies and several Asian currencies continue to lead the charge higher. AUD/USD pushed to a high not seen since 1982 and is on course to hit 1.1200, especially as commodities stay buoyant.
Daily FX Technical Strategy – USD sheds more value
USD weakness is broad based and of historical significance. It is a theme we have repeatedly drawn attention to and one which we expect to repeatedly be returning to over the rest of the year.
Behavioral Finance: Daily Forex Outlook: US debt: the damage is already done
EUR/USD (1.4510) House Speaker John Boehner’s budget proposal was declared ‘dead on arrival’ by Senate Majority Leader Harry Reid yesterday, with most Democrats and even a few Republicans prepared to vote against it.
Technical Analysis – FX Daily Majors
Today’s highlights: AUD/USD: Surge through the 1.1014 peak and key 1.1035 multi-decade retracement barrier opens up 1.15/16 into Q3 (potentially mid-August). Interim targets 1.1200, 1.1300 EUR/USD: Probe through 1.4520 keeps focus higher, reinforcing surge through the 2011 topping line. Still aiming through 1.4579, with August target at the key 1.4698/4707 area
European FX Daily – Inflation pushes AUDUSD to a new high
– AUD rally leads the USD weaker; Asian equities mixed – Australia inflation surprised high, points to rate hikes, not cuts – A moderation in the Swiss KoF is likely to have limited CHF impact – USD durable goods likely to contract and keep USD yields depressed – We have lowered our three-month USDCAD forecast […]
What matters today (Asia edition)
Developed macro 1. ‘Risk-off’ mode dominated in overnight trading session 2. EC business confidence surveys widely expected to deteriorate in July 3. German labour market will likely reveal further improvement
Technical Analysis: The dollar is likely to get bashed again
Recent EURUSD lift looks paced enough to mount pressure on an important 1.4580 ref… The unit is also on a losing streak against the yen and USDJPY could sink into the 76s… The aussie is steaming hot and AUDUSD, already trading at fresh post-float highs, could try 1.11, but there are some worring signs in […]
FX DAILY STRATEGIST: Asia -27 July 2011
FX finally takes fright at US ratings risk Solid AAA G10 credits may have further to run Upside AU CPI surprise could see new AUDUSD highs
McCrann — AUSSIES SAVE WHILE AMERICANS KEEP SPENDING
RESERVE Bank governor Glenn Stevens delivered some hugely important messages yesterday. Ahead of this morning’s inflation figures, on which next week’s RBA interest rate decision pivots.
UK GDP preview
UK GDP (Q2, 1st release) – 09:30 BST/ 04:30 EST A run of soft data during recent weeks has raised question marks over whether the UK economy maintained any sort of growth at all during the second quarter of 2011.
HSBC: US debt limit stalemate could extend several weeks
Signs of progress over the last few weeks on budget negotiations in Washington have turned out to be a mirage. Negotiators appear no closer to a long-term budget agreement now than they were back in April when competing budget plans were presented by the House Budget Committee and the White House. New stop-gap plans are […]
Technical Analysis: Slightly better risk appetite boosts AUD & SEK
It looks like stocks may recover more of recent losses incurred. Better risk appetite looks to support currencies like AUD & SEK. The former holds the 1.1012 high in the corner of the eye and EURSEK should be sold on a 9.08 break (but bears still needs confirmation under 9.04)…