Latest Forex Research
GBP Mid-day Analysis
The Pound has managed to respect its 50 day moving average in the wake of mostly positive US data,signs of strong Chinese exports and favorable German Export news.
RMB policy shifting to neutral
After four months of turmoil in the RMB complex, FX policy seems to be transitioning to a more neutral stance.
FX Daily Majors
Today’s highlights: EURUSD remains capped below 1.3688/90 – price resistance and 38.2% retracement of the decline from May – leaving the risk marginally lower.
Daily Technical Report
EUR/USD made an intraday bullish reversal lastThursday, indicating exhaustion in the short-termselling pressures. Resistances can now be foundat 1.3688 (22/05/2014 high) and 1.3734(19/05/2014 high).
BNP Paribas: EUR View
The effects of the ECB easing measures will begin to be felt more directly this week, says BNP Paribas.
UBS Morning Adviser
Two days of sharply lower fixings raise questions on further RMB weakness Following Friday’s sharply lower official USDCNY mid-rate fixing
€uro rebound seen continuing
EURUSD: Thursday’s spring bottom and key day reversal shouldcontinue to underpin upside attempts and
FI Eye-Opener: ECB rates to remain close to zero for an extremely long period
The huge bond rally continued in the Euro zone on Friday. The German 10-year yield plummeted by another 5bp,
FX Daily
Today’s data calendar is rather thin. The only releases due in Europe are the SentixInvestor Confidence survey and Spanish house price index.
Daily Market Technicals
The EUR/USD popped above the 21-DMA ($1.3660) before closing back below and consolidating below to start the new week.
USDJPY – wave-(4) bull flag targets 103.08, 103.60
Yesterday’s intraday IB updates focused on the near-term wave-(4) consolidation. The pattern from 100.82 is a very clean impulse so far and
GBP/USD Analysis
The pair closed in NY Friday at $1.6802 after rate had corrected back from a post NFP high of $1.6845 to $1.6781 (on reversal higher in UST yields) before rate drifted higher through the NY afternoon to $1.6813.