Latest Forex Research
Daily FX Update
The bond market is telling an important story. Yesterday the U.S. 10-year yield collapsed and there has been follow through today, with it moving into the open at an 11-month low of 2.42%.
EUR Mid-day Analysis
While the Euro is facing a distinct pattern of lower lows and lower highs on its charts, a quasi-doublebottom around 1.3586 level would seem to provide a fresh layer of support.
CHF Mid-day Analysis
Like the Euro, the Swiss might have become short term oversold and due for a temporary bounce. Downtrend channel resistance is seen today at 1.1170 today and
JPY Mid-day Analysis
A flurry of dialogue from the BOJ overnight would seem to have sparked a wave of buying in the Yen butsome of the recent buying might have been technical short covering.
USD Mid-day Analysis
The Dollar wasn’t able to claw out a higher high overnight and that isn’t surprising considering thepotentially for non-descript scheduled data flows later today.
CAD Mid-day Analysis
Coiling in the Canadian around the 92.00 level has seemingly produced a value zone onthe charts, but like the Pound the Canadian might need to
GBP Mid-day Analysis
Unfortunately the June Pound did see a lower low overnight and it doesn’t appear as if global economicviews have suddenly improved and
Credit Agricole: EUR View
The EUR has remained under pressure, mainly on the back of rising expectations of the ECB cutting the deposit rate negative at next week’s policy meeting.
FX Daily Majors
Today’s highlights: NZDUSD has completed its expected top, and we look for further weakness to .8362/49.
Commerzbank: EUR/JPY View
In EUR/JPY, Commerzbank notes that as it came under pressure yesterday and focus has shifted to the 200 day ma at 138.27 which is now exposed.
Commerzbank: GBP/USD View
GBP/USD accelerated lower, breaking below the 6 month uptrend, notes Commerzbank.
Daily Technical Report
EUR/USD has moved decisively below the short-term support at 1.3616 (23/05/2014 low), confirming the recent technical deterioration.