Latest Forex Research
CAD Mid-day Analysis
Positive chart action, limited competition from other currencies and strong trade readings,leave the bull camp in control of the Canadian.
GBP Mid-day Analysis
The Pound appears to have carved out a fairly solid low from earlier in the week and that might be theresult of a lack of strength in other currencies.
EUR: How Could The ECB Surprise Next Week?
Going into the ECB meeting Citi economists and the market are expecting a 10-15bp cut in both main refi and deposit rates.
Crédit Agricole: AUD/USD Stay Long Or Buy Dips
AUD has been the top performer in the G10 over the past week. The combination of better-than-expected domestic data and further declines in US rate provided fuel for the 0.73% rally in AUD against the greenback.
FX Daily Majors
Today’s highlights: USDCAD’s stay bearish for a break below 1.0813, to test 1.0747/31.
The Global Macro Pulse
NZD led rallies in G10 FX, supported by strong building permits. NZDUSD rebounded to 0.850 from a two-month low of 0.845. AUD rose to 0.932 but AUDNZD is still marginally lower at 1.096.
Daily Technical Report
EUR/USD has broken the key support areabetween 1.3673 and 1.3643. The short-termtechnical structure calls for further weakness aslong as prices remain below the resistance at1.3669 (27/05/2014 high).
EUR: Managing Risk Going Into The ECB Meeting
Next week’s ECB decision, press conference and inflation projections are all key for the EUR’s outlook.
FX Daily
A bunch of US key figures are on the calendar for today. We expect a slight setbackin personal income and personal spending growth in line with the market’sexpectation and unchanged PCE core inflation.
UBS Morning Adviser
Without robust growth, portfolio flows will be stagnant Ongoing Bank of Canada accommodation has driven CAD underperformance this year.
FI Eye-Opener: Bonds still in demand for a while
Core bonds continued to rally hard on Wednesday, and the rally initially continued yesterday, before yields rebounded. The US 10-year yield touched 2.40% yesterday, before rebounding to around 2.47% currently.
Daily Market Technicals
The failure to carry on with the move lower Thursday after having traded at fresh 3 month lows combined with O/S daily studies looking to correct higher is a worry for bears.