Latest Forex Research
EUR/USD Analysis
The pair started at $1.3628 in Asia Wednesday, the rate slid to an initial low of $1.3618 from an early daily high of $1.3630 while dollar-yen takes centre stage during Asia session.
GBP/USD Analysis
The pair closed in NY Tuesday at $1.6749 after rate had corrected back from early session highs of $1.6782 to $1.6731.
USD/JPY Analysis
The pair started at Y102.51 in Asia Wednesday, retracing from NY’s high of Y102.56 and continued its bullish tone with Japanese names paying up the pair in early session.
GDP Q1 2014 – Growth reverts to trend via strong exports
Real GDP rose by 1.1% in QI and growth was significantly faster than in recent quarters. It was a notch above theconsensus which centred on a rise of 1.0% (CBA (f): 1.1%).
EUR: “Time For Talking Nearly Over”
The euro weakened in May following numerous ECB Council members’ comments that made it explicitly clear that additional monetary easing would be taken at the next meeting on 5th June.
JP Morgan: GBP/USD View
In GBP/USD, JP Morgan notes that the latest break below daily trend line support (now resistance at 1.6781) delivered additional
JP Morgan: EUR/USD View
The cautious up-trend of the USD over the course of the last 4-5 weeks has finally reached crucial resistance barriers, which if taken out, would constitute a game change on bigger scale, notes JP Morgan.
EURJPY – countertrend rally unfolding with clean A-B-C rally to 139.75/85
We have been looking for a “countertrend rally….[to] 139.43/140.17”. The A-B-C correction higher is unfolding with very clean wave forms and we are honing in on the 139.75/85 zone.
Financial Markets Wrap – May: Finally Cracking
– Global bond yields decline through May amid expectations that policy rates will remain low for longer.
Asian Currencies Technicals
The $0.9180-0.9233 region remains key support for the AUD/USD with this region continuing to support on dips. Bears look for a close below $0.9205 to
Daily FX Wrap and Strategy
Crunch. The NZD was kicked lower overnight on the backof yet another dairy price decline. NZD/USD is the worstperforming major currency, down 0.3% at 0.8430.
Daily FX Update
Building disinflationary pressures in Europe, confusing data releases from the U.S., climbing house prices in the UK,