Latest Forex Research
Daily Technical Report
EUR/USD made an intraday bullish reversalnear the key support at 1.3503 (see also thelong-term rising trendline from the July 2012low) on Friday, favouring a short-term bounce.
We remains short EUR/GBP – BNP Paribas
The minutes to the July BOE MPC meeting will be released on Wednesday and will be scrutinized for further evidence that the Committee is moving towards hiking rates later this year, notes BNP Paribas.
The Global Macro Pulse
With Japan closed today, trading in FX markets was thin. EURUSD crept slightly higher to 1.3533, USDJPY is marginally lower at 101.26, and AUDUSD is flat at 0.9393.
EUR/USD rechecks 1.3545-1.3575 before down
EUR/USD tests 1.3545\76 before down. 1.3477 remains a medium-term key ref to keep in mind… EUR/JPY could test 137.50\70 before trading lower again…
Gold Technical Analysis
An inside day to end the week saw gold find support ahead of the 100-DMA with a close below this level needed to
EURUSD – looking for wave-v down to symmetry target and ‘14 low at 3475
The Euro is coiling right above the 2012/13 trendline at 1.3510 and the spike low from June is 1.3503.
USDJPY – above 101.44 clears a path for 101.80; 101.07 critical support
We’ve discussed the long-term outlook for $jpy but lets refresh one more time. Our base case is that the pattern from January is a bull triangle and wave-E is done at 101.07.
AUD/USD Analysis
Aussie started this morning at $0.9390 after Friday’s $0.9336 to $0.9411 range. The aussie traded that high during the US hours but retreated toward the session close.
FI Eye-Opener: Markets too upbeat on Europe?
German bond yields initially continued to fall on Friday, and the 10-year yield almost touched the record lows of 1.13% from 2012,
Daily Market Technicals
EUR/USD took out the previous key support region noted $1.3503-12 before bouncing from ahead of the 2014 low.
FX Strategies: Buy AUD/NZD & Sell EUR/JPY
Investors following tactical strategies should consider buying AUD/NZD and selling EUR/JPY this week, advises Barclays Capital in its weekly FX pick to clients.
FX Daily
A light global calendar today with focus likely to remain on the geopolitical tensions. Both US and Europe are increasing the pressure on Russia following the MH17 crash.