Latest Forex Research
Australia’s export “heat-map” improves in June
We have updated our PMI “heat map” for Australian export destinations.
Unemployment in Australia picks up
Unemployment in Australia came in at 6.0% in June from 5.8% in May that was revised to 5.9%, while analysts expected unemployment to increase to 5.9%.
USD/CAD Techincal Analysis
USD/CAD’s decline has so far taken it to a July low at 1.0622. It was made marginally above the 1.0621/1.0568 support zone from where it is currently bouncing back.
NZD/USD Techincal Analysis
NZD/USD’s ascent seems to be unstoppable with it now having overcome the June high at .8795.
AUD/USD Techincal Analysis
AUD/USD sold off to and is recovering from the 55 day ma at .9339. Having severed the 2014 uptrend last week,
NAB Business Survey – Residential Property Survey Q2 2014
Housing market sentiment falls as house price growth slows and rental pressures continue to weaken. Local investors step up and foreign buyers less prevalent.
Performance of Manufacturing Index (PMI) – Staying The Course
The manufacturing sector remains in expansion mode, despite some aspects of the results that need to be watched closely in the months ahead,
Asian Currencies Technicals
Bears continue to dominate with fresh 2014 lows retaining immediate focus on Sgd1.2342 Oct 2013 monthly low.
Daily FX Wrap and Strategy
The NZD is higher on the back of the US FOMC Minutes,up 0.4% against the USD to 0.8820.
Aussie Currencies Technicals
The correction higher from last week’s test of the 55-DMA continued on Wednesday but the AUD/USD has been unable to
USDJPY – 102.80/100.82 still represent key strategic levels
Prices did fall to and stall at the 101.50 area yesterday. If this does satisfy a deep wave-2, then confirmation will come via a rally back through 101.97.
EURUSD – a bear flag break at 1.3595 targets 1.3506
Euro rallied to the 1.3620/25 target zone overnight (1.3631 high) satisfying our call for a wave-ii rally.