Latest Forex Research
US: Strong Q3 GDP growth puts more pressure on the Fed
Real GDP rose at a 3.5% annual rate in Q3, after a 4.6% pace in Q2 when activity rebounded after the weather-related slump in Q1.
AUDUSD – bear flag targeting move to critical support at .8660
The failure at .8900 coincided with a failure at channel resistance.
GBPUSD – wedging lower towards 1.58 as wave-(5) down begins
Sterling continues to honor the downtrend line from mid July.
EURUSD – larger triangle forming can continue to mark time
Yesterday’s sell-off met our 1.2620 target but the break below negated our small bullish triangle outlook.
Daily FX Update
Markets are digesting yesterday’s Fed statement, but sentiment into the NA open is negative.
EUR Mid-day Analysis
While the German unemployment results were better than expected those results were mostly
CHF Mid-day Analysis
A range down failure/extension overnight leaves the Swiss poised for a sub-1.04 trade ahead.
JPY Mid-day Analysis
With the US Fed getting policy back to normal, confidence in the Japanese economy slowly settling intoplace and
USD Mid-day Analysis
A range up extension in the Dollar overnight is definitively the result of a more hawkish stance by the US Fed.
CAD Mid-day Analysis
The Canadian is holding together impressively in the face of a fresh wave of confidence in the US Dollar.
GBP Mid-day Analysis
The Pound remains technically off balance and the view toward the UK economy is still some what suspect.