Latest Forex Research
Will Effects Of Draghi ‘Shock And Awe’ Endure?
Analysts believe the ECB’s took bold action Thursday in deploying a panoply of new measures designed to ease monetary conditions in the currency bloc and to attempt to head off the risk of further disinflation.
EURO Set To Resume Its Uptrend Post-ECB
The ECB cut interest rates as expected, but Draghi said that to all practical purposes interest rates have reached their lower bounds, notes Australia and New Zealand Banking Group (ANZ).
ECB: “We are not finished”
ECB delivered a whole package of measures just as we expected. As a result, longer core yields initially rose, the curve steepened and the euro depreciated.
USDCAD – 5-wave rally not enough yet to confirm lows are in
It is enticing to view the impulsive rally from 1.0823 as a sign that the larger trend is turning from down to up but more evidence is needed.
EURUSD – bear flag break at 1.3589 targets 1.3532 wedge target line
Bearish range broken with this morning’s trade below 1.3580. That range between 1.3578/3650 was consolidating the sell-off from either 1.3731 or 1.3993 and
EUR Mid-day Analysis
While German manufacturing results were positive, the Euro zone also saw a sharp year over year rise inretail sales and that has clearly increased the debate on what the ECB will do later this morning.
CHF Mid-day Analysis
The bulls in the Swiss will suggest that the June contract has built a fairly significant consolidationsupport zone around the 1.1133 level and
JPY Mid-day Analysis
The Yen has forged a slight recovery move overnight and that action might have been the result of shortcovering ahead of important developments in the Euro and US today.
USD Mid-day Analysis
Once again the Dollar remains within striking distance of its recent highs and it is seemingly benefitingfrom ideas that the ECB will announce fresh easing moves later today.
CAD Mid-day Analysis
The Canadian slide this week has been partially the result of renewed strength in theDollar, but it has also been partially the result of sagging growth views toward China.
GBP Mid-day Analysis
The Pound might be poised to come back into consistent vogue after the consistent slide of the lastmonth!
FX Daily Majors
Today’s highlights: EURUSD continues to trade sideways in a tight range but we remain bearish for a break of key price support at 1.3586.