Latest Forex Research
FX Daily Majors
Today’s highlights: EURGBP’s spotlight turns to downtrend support from June 2013 at .7960.
Daily Technical Report
EUR/USD’s bullish intraday reversal on 5 Junehas created a key support at 1.3503. Monitor thecurrent consolidation phase.
Kiwi after the RBNZ
RBNZ’s tightening cycle well underway The RBNZ struck a hawkish note in last week’s monetary policy statement as it raised interest rates by 25 bps.
The Global Macro Pulse
The Nikkei fell 0.7% while S&P futures are off just under 0.4% and the US 10yr Treasury yield is down a bit over 1bp to 2.584%, close to its New York lows.
UBS Morning Adviser
RBA talking down the currency has limited longer term implications Tuesday’s release of minutes of the Reserve Bank of Australia (RBA)
JPY on a strengthening path, EUR/NOK downturn
EURUSD: Friday’s attempt higher ended already at the 1.3580resistance with a relatively impulsive decline.
FI Eye-Opener: Negative overnight rates around the corner
German bonds continued to perform on Friday, and the curve bull-flattened, while US yields edged slightly up. Intra-Euro-zone spreads narrowed mostly, but the moves were not huge.
AUD/USD Analysis
Aussie started at $0.9395 this morning and briefly went up to $0.9405 but the early risk-averse environment then pushed the rate through $0.9400 back to $0.9395.
Daily Market Technicals
The $1.3583 resistance level remains key this week with the attempted recovery on Friday falling short of this level before falling to a relatively bearish close.
FX Daily
Focus this week will be on the FOMC meeting on Wednesday. The markets will belooking for signals as to the timing of the first rate hike,
EUR/USD Analysis
The pair opened at $1.3537 this morning in Asia, after a $1.3521 to $1.3547 range on Friday in the US.
Scandi markets ahead: Norges Bank meeting in Focus
The main Swedish event is NIER’s consumer and business confidence surveys. Wedon’t expect any major leaps in the data and some small improvement is even in theoffing (given the main components in PMI).