Latest Forex Research
GBP Mid-day Analysis
There has been no break in the Pound’s downside breakout as prices have fallen to their lowest level since mid-June and
Central European Daily
CNB will keep its commitment to keep the koruna above EUR/CZK 27 and will extend its forward guidance The regional currencies were under a mild pressure on
Euro area: Inflation inching closer to zero
After German and Spanish data yesterday, the fall in Euro-area inflation to 0.4% y/y was no surprise.
Daily Technical Report
EUR/USD is in an underlying downtrend.However, monitor the support at 1.3367 impliedby yesterday’s intraday bullish reversal (hammerformation).
FX Daily Majors
Today’s highlights: DXY $ Index above 81.38/48 sees a base established, for 83.40/48.
The Global Macro Pulse
EURUSD rose to 1.3399 from its overnight lows around 1.337, while USDJPY is at 102.77 after trading as high as 103.09.
USD overall strong. USD, JPY & SEK Vulnerable. Bunds give back some
EURUSD: Small rebound likely. The 1.3375-50 target/support attracted some responsive buying yesterday,
FX Daily
We expect euro flash CPI for July to reach a new cycle low at 0.4% y/y (consensus0.5% y/y) down from 0.5% y/y in June.
USDJPY – 102.27 target realized. Wave-4 pullback now to 101.95/80
Yesterday’s call for a “rally to complete wave-3/c expected to test key 102.27 level” has been realized.
USDCHF – July 5-wave rally complete; pullback target zone is .9010/.8970
USDCHF has been and is still forming a large bullish base.
Gold Technical Analysis
The correction from Tuesday’s 21-DMA failure continued for gold Wednesday as it starts to look a little heavy.