Latest Forex Research
Daily Technical Report
EUR/USD is bouncing. The hourly resistance at1.3621 has been breached. However, wecontinue to favour an eventual decline towards the support at
AUD remains one of the most overvalued currencies in the G10 – Credit Agricole
AUD remains one of the most overvalued currencies in the G10. In simple terms, while the gap has narrowed between the real effective rate (REER) and
Trading patterns surrounding the FOMC minutes
• The FOMC minutes have proved important in bridging the gap between what the dovish Fed leadership are thinking, and the evolving view among other FOMC members.
The Global Macro Pulse
The USD strengthened in mid-day trading in Asia. USDJPY edged higher to 101.6, AUDUSD dipped towards 0.939 and
EUR/NOK above 8.43 = bullish. €Z stocks fell hard
The EZ turned sourer yesterday with not only the €stoxx bank index breaking lower but also €stoxx50 came crashing down through its 55d ma band.
USDJPY – deep retracement still unfolding to ~101.50 (101.24 is critical)
The support cluster at 101.74 has given way and focus now shifts to 101.50 to contain this pullback.
FI Eye-Opener: 2012 lows, here we come
German bonds rallied yesterday already before the 7-1 massacre Germany delivered vs Brazil in the World Cup.
FX Daily
The main event is the release of the FOMC minutes from the 17-18 Junemeeting, when policy makers trimmed the bond purchase programme by USD10bnfor the fifth consecutive gathering.
Daily Market Technicals
EUR/USD is now finding support ahead of the 21-DMA as it eyes the $1.3621-38 hourly resistance region.
AUD/USD Analysis
Aussie opened at $0.9400 this morning in Asia after a $0.9394 to $0.9415 range last nightin the US.
EUR/USD Analysis
The pair closed at $1.3612 last night in New York, and started this morning in a tight $1.3609/15 range.
GBP/USD Analysis
The pair closed in NY Tuesday at $1.7131 after rate recovered off its UK IP/Mfg react lows of $1.7085 to $1.7135, settling around $1.7130 into the close.