Monthly Archives: April 2012
AUD/USD Analysis
Opened in Sydney around $1.0292 and headed sharply higher following the strong Apple earnings to highs of $1.0339 in thin trading as Australia and NZ respect the ANZAC annual holiday. The move also buoyed AUD/JPY which hoisted the cross back through Y84.00 to Y84.24 despite a lack of Japanese fixing demand.
USD/JPY Analysis
Opened in Asia at Y81.32 after a recovery yesterday from lows in NY of Y81.01. The pair headed higher as the Nikkei pushed up over 1% in early trading on the back of rises in US stocks and strong Apple earnings but the move stalled into offers above Y81.50 from exporters, models and macro funds […]
UBS Morning Adviser Asia
Market Eyes Fed The Fed takes center stage on Wednesday as markets gear up for some subtle hints of the Fed’s policy prospects in the short- to medium-term. Our economists note that the Fed is unlikely going to alter its view that “economic conditions…are likely to warrant exceptionally low levels for the federal funds rate […]
UBS Morning Adviser America
BoJ Meeting Expectations Rise After a quiet Asia session, USDJPY caught a bid in Europe after Reuters cited ‘sources’ saying the BoJ may extend the maturity of Japan government bonds it buys under its asset-buying scheme to three years (from two years currently).
EUR Analysis
EUR/USD closed in NY at $1.3156. Trade through Asia was initially contained within a very tight range of $1.3147/58, dipping down to mark session lows at $1.3145, as rate reacted to Aussie’s fall following the weak release of Australian inflation data, before recovering back, touching overnight highs at $1.31602 ahead of the European open.
JPY Analysis
Opened in Asia at Y81.18 and came under early pressure from heavy cross sales in the euro and aussie, as well as some sovereign supply. The move down tripped stops through Y80.95 to lows of Y80.86.
GBP Analysis
Cable closed in NY at $1.6125 after recovering to $1.6135 in this session and holding above $1.6100 ($1.6109 pullback low) into the close. Trade in a generally subdued Asian session was contained within a tight $1.6110/30 range, with early trade into Europe seeing cable initially struggle to edge higher in tandem with EUR/USD, which allowed […]
Behavioral Finance: Daily Forex Outlook: The euro’s puzzling resilience
EUR USD (1.3150) Since weeks the euro is wedged in a narrow range closer to the year-high than the year-low. This trend did not alter yesterday even though the political risk in the eurozone leapt back into the market focus.
Daily FX Technical Strategy: AUD on the ropes
Over the last 24 hours, the outlook for the AUD has deteriorated somewhat and against the majors key support is under threat. For the time being though the support is holding but key levels are close at hand and worth noting. Like a fighter, the AUD is on the ropes, absorbing blows, it is on […]
Technical Analysis
Weaker SEK & AUD and focus on European yield spreads… EUR/USD The 1.3058 ref is exposed… EUR/JPY Ought to test supports below… AUD/USD The recent 1.0226 low exposed… EUR/SEK Headed back over 8.93… USD/SEK Back in a bullish impulse… EUR/NOK Must break the 21day EMA…
GBP/USD Analysis
Closed in NY at $1.6125 after recovering to $1.6135 in this session and holding above $1.6100 ($1.6109 pullback low) into the close. Trade in a generally subdued Asian session was contained within a tight $1.6110/30 range, the rate currently trading around $1.6122 at writing and seen struggling to edge higher in tandem with EUR/USD and […]
FX Market Technical Research
EUR/USD has again failed to maintain a minor break of the 55 day ma and sold off back into its range. Directly overhead sit the 1.3305/20 downtrends, and these continue to effectively block the topside. These are the 5 month downtrend and the 8 month channel.