Daily Archives: February 3, 2012
BOND Analysis
German government bonds are opening higher Friday, amid position-squaring ahead of the key US payrolls data. The key non-farm payrolls are forecast to rise 135k in Jan, continuing a trend of decent payrolls gain, but a number of economists have revised their estimates for payrolls lower after the weak US ADP data Bunds are seen […]
FX Market Technical Research
EUR/USD charted an inside day to leave our outlook unchanged – we remain biased towards failure at 1.3245/50, the 38.2% retracement of the move down from November. However chart action at this juncture is not at all clear.
GBP/USD Analysis
Closed in NY at $1.5807, having recovered off pullback lows of $1.5795. Rate slipped lower into early Asian trade, with reported stops sub $1.5790 seen as an early attraction. Rate dipped to an extended low of $1.5786 (off recent highs at $1.5884 Feb1) before picking up fresh demand.
USD/CHF Technical Analysis
(0,9175) The USD/CHF confirmed further consolidation interior the negative outside day with 0,9265 – 0,9100 still the levels to follow in the coming hours. Only a daily closing above 0,9265 will support a resumption of the move up.
GBP/USD Technical Analysis
(1,5835)The CABLE confirmed a session of consolidation remaining above Tuesday’s top. It formed an inside day with 1,5895 – 1,5680 the levels to follow; a break of the resistance will favour an extension of the move up suggesting a firm test of the 200 days line at 1,5948, where we expect good s/t resistance.
UBS Morning Adviser Europe
USDJPY Focus Intensifies Radio silence out of Europe has kept investors in wait-and-see mode for yet another overnight session. However, interest in USDJPY is intensifying given the pair is hovering above key levels and US payrolls is just hours away.
EUR/USD Analysis
Closed in NY at $1.3145, having settled mid range after recovering off this session’s lows of $1.3085 and pushing up to $1.3187. Rate eased lower into Asia, touching a low of $1.31144, the move down seen as a ‘normal’ Friday risk off Asian move, but given an added knock on release of weaker than forecast […]
GBP/JPY Technical Analysis
(120,55)The GBP/JPY is confirming further consolidation interior the positive outside day with 121,20 – 119,35 still the levels to follow in the coming hours. The indicators of the daily chart are positive while those of the s/t ones are still showing a mixed picture suggesting further consolidation/ correction.
EUR/GBP Technical Analysis
(0,8305) EUR/GBP confirmed yesterday further consolidation interior the inside day with 0,8400 – 0,8270 still the levels to follow in the coming hours. The closing was however small positive.
EUR/JPY Technical Analysis
(100,15) The EUR/JPY confirmed a session of consolidation interior the previous session’s range forming an inside day with 100,85 – 99,15 the levels to follow. It failed therefore to directly confirm the positive day reversal. Only a daily closing above 100,85 will support higher levels.
EUR/CHF Technical Analysis
(1,2062) EUR/CHF is still consolidating below the 200 hours line today at 1,2063; the holding of this line will favour further weakness, scenery supported by the negative reversals in the hourly chart. In the hourly chart we have a potential reversed S_H_S formation with the neck line at 1,2063!!
EUR/USD Technical Analysis
(1,3150) The EUR/USD confirmed further consolidation interior the positive outside reversal while waiting today’s payroll!! We have therefore 1,3230 – 1,3015 still the levels to follow in the coming hours.