Latest Forex Research
Weekly Commentary
While the New Zealand economy started the year at a rollingboil, it now appears to have slowed to a steady simmer.Even so, we think that markets are overestimating whatrecent developments means for interest rates.
Asian Currencies Technicals
After having chopped around the 21-DMA to end last week the AUD/USD took a backward step on Monday with the pair dipping back towards the key $0.9180-0.9205 support region.
Daily FX Wrap and Strategy
The NZD continues to drift lower, with NZD/USD dippingits toes below the 0.8450 mark early this morning. BroaderUSD strength has the NZD 0.5% lower from yesterday.
USDJPY – > 102.14 clears daily down channel and hourly range highs
We can remove 2 of the alternate scenarios with a rally above 102.36 this week; at the point the large wave-[4] triangle will take precedence.
EURUSD – 1.3578/3650 range to continue with likely test of lower end
The 1.3675 break has left Euro below the wedge uptrends and the April pivot. The 1.3586 low is either wave-1 or (i);
Daily FX Update
An expansionary and stronger than expected Chinese PMI of 50.8 has done little to support currencies; with the USD broadly stronger.
EUR Mid-day Analysis
Not surprisingly the Euro enters the pre-ECB rate decision window under pressure. With a series ofminimally slack Euro zone manufacturing PMI data points released overnight, the bear camp would seem to retainan edge.
CHF Mid-day Analysis
While the June Swiss is showing signs of respecting recent consolidation low support, slack Euro zonedata and anticipation of ECB easing this Thursday looks to
JPY Mid-day Analysis
With strength in the Dollar and disappointing Japanese domestic auto sales figures for May releasedovernight, the bear camp starts the new trading week in the Yen with a distinct edge.
USD Mid-day Analysis
The Dollar has recovered overnight and has accomplished that action in the face of rising hopes of anECB easing move later this week.
CAD Mid-day Analysis
Economic news from Canada has been undermining of the Canadian Dollar of late buthopes for improved trade activity with
GBP Mid-day Analysis
The Pound is showing the capacity to respect its recent lows and is managing that action despite astronger US Dollar and that might suggest an end to the recent corrective bias in the Pound.