Latest Forex Research
Yellen did not go “Carney”
Last week’s warning from Bank of England Governor Mark Carney that interest rate hikes could come earlier than anticipated raised expectations for a more hawkish Fed today.
Daily FX Wrap and Strategy
The NZD suffered some considerable whiplash in thewake of the FOMC meeting this morning, but overalldecided to storm higher. NZD/USD is 0.7% stronger at0.8720.
Aussie Currencies Technicals
The move lower Wednesday was quickly reversed with the AUD/USD having found support ahead of the 55 & 21-DMA’s and
USDJPY – outlining our base case for mid 103’s; need above 102.31 now
Very little has changed on the daily chart which remains locked in the middle of the 5-month range.
AUDUSD – n/t key range is .9374/9329; favor downside break to .9285
Aussie fell short of our call that a “target zone at .9471/9529 could complete 5-waves up from .8660”.
Daily FX Update
The market is quiet leading into today’s FOMC meeting. The USD is mixed with the best performer NZD, up 0.1% and the worst performer NOK, down 0.2%;
EUR Mid-day Analysis
The Sept Euro remains well inside of yesterday’s range this morning, but has been able to steer clear ofdownside follow-through after yesterday’s reversal.
CHF Mid-day Analysis
The Sept Swiss remains subdued this morning, but has shaken off a surprisingly weak reading for theSwiss ZEW survey to post a modest gain.
JPY Mid-day Analysis
A steady erosion of safe haven support, both from stronger Japanese equities and from a lack of freshheadlines out of Iraq and Ukraine,
USD Mid-day Analysis
The Dollar has seen little follow-through so far from Tuesday’s reversal as prices have held within atight overnight range in front of today’s key events.
CAD Mid-day Analysis
The Sept Canadian has kept within a tight range going into today’s trading, and likelyneeds to
GBP Mid-day Analysis
The Sept Pound has already been through a roller-coaster ride this morning as a post-BOE meetingminutes rally was quickly rejected with a move down into negative territory.