Latest Forex Research
CAD Mid-day Analysis
The Canadian seems to have run into a solid level of resistance around the 94.00 level,
GBP Mid-day Analysis
A quasi technical reversal in the Pound overnight leaves the bear camp with a technical edge.
EUR/USD Technical Analysis
EUR/USD finished the week under pressure which reinforces the view that the market has already charted an interim top at 1.3701, says Commerzbank.
We Stay Short EUR/GBP & EUR/USD
The ECB held rates steady in July, but the impact of the June easing action is likely to lag, says BNP Paribas.
Central European Daily
Hungarian and Czech industrial output dropped in May The Hungarian forint under pressure Regional industrial production clearly matches worse performance of
Daily Technical Report
EUR/USD has broken its short-term risingchannel after having stopped near the 38.2%retracement of its previous decline. A falltowards the support at 1.3503 is likely.
FX Daily Majors
Today’s highlights: EURUSD stays bearish for 1.3513/03, and ideally key support at 1.3487/77. Below here can confirm the expected large bear “wedge”.
JPY Analysis
In a quiet week for US economic data releases, the main US event risk will likely be the release of the latest FOMC minutes from
JPY: quasi-public money at play
Many are expecting stocks to rise and the yen to depreciate when the GPIF revises its basic investment allocation ratios in September or later.
The Global Macro Pulse
The USD started the week on a stronger footing as the US 10y yield opened 1.6bps higher to 2.656%.
Weekly Leveraged Funds Positioning Data
• Leveraged funds increased their net short positions in the USD by USD1.5bn. This comes following the release of final Q1 GDP data showing a much larger contraction that initially estimated.