Latest Forex Research
EUR/USD targets 1.3734\50 before down & EUR/SEK moves to 9.1375
EUR/USD is targeting 1.3734\50 before down… USD/JPY is testing support at 102.20/11… A bullish GBP/USD candle just added shows demand…
UBS Morning Adviser
Does recent China manufacturing PMI suggest the mini-stimulus is working? This past Tuesday’s release of final May HSBC Manufacturing PMI reached a 4-month high.
FI Eye-Opener: ECB delivers, will payrolls?
The ECB delivered its easing package yesterday (see more below), and the initial market reaction was higher long yields, a steeper curve, a rally in peripheral bonds and a weaker euro.
Daily Market Technicals
The sharp move lower was aggressively reversed overnight with the EUR/USD closing above the 200-DMA in the process and easing bearish pressure but falling short of the 21-DMA.
FX Daily
The US job report will be the main focus today. We expect an increase in non-farmpayrolls of 250,000 but see risk of a pay-back from the extra strong April figure.
EUR/USD Analysis
The pair fell to a low of $1.3503 during European trade last night in response to the initial statements in ECB President Mario Draghi’s press conference but
AUD/USD Analysis
Aussie was held in a tight range Friday ahead of the US Non-farm Payrolls data with $0.9325/$0.9341 capping the day.
GBP/USD Analysis
The pair closed in NY Thursday at $1.6817 after was pressed to session lows of $1.6723 on the initial reaction to ECB Draghi’s liquidity action,
USD/JPY Analysis
The pair opened at Y102.40 this morning and then spent the early hours of the morning trading sideways in a narrow Y102.37 to Y102.46 range,
Daily FX Wrap and Strategy
The NZD led major currencies higher overnight, up 0.9%against the USD to just below 0.8500.Part of this can be laid at the feet of EUR’s rally after theECB policy announcement last night.
Asian Currencies Technicals
The renewed bullish pressure that has been pressuring the 55-DMA resulted in a break and close above the $0.9335 resistance level Thursday.