Latest Forex Research
The Global Macro Pulse
AUDUSD rallied to 0.9276 in response to a better-than-expected capex survey. EURUSD traded to a low of 1.3589 before recovering to 1.3607 while USDJPY dipped to 101.69.
EUR: How To Position If ECB Goes Negative On Depo Rates Next Week?
The prevailing market view seems to be that the ECB will cut the main refi and deposit rates and will introduce additional liquidity measures – e.g. suspend the sterilization of SMP – next week, notes CitiFX.
UBS Morning Adviser
April’s consumer price data will be released in Japan on Friday This will be the first release of national CPI following the country’s sales tax rise.
Daily Market Technicals
The move towards the 2014 low continued on Wednesday with the EUR/USD breaking and closing below the previous initial support at $1.3612.
AUDNZD– above 1.0912 strong indication of move to 1.12
We have been viewing the consolidation in AUDNZD as a textbook wave-(4) triangle. The curveball, and the newly promoted base case, is that the triangle was just a wave-(b) in a larger (a)-(b)-(c) corrective rally.
AUD/USD Analysis
A relatively busy morning for the aussie today, as the market responded to the broader US dollar losses and the release of Q1 capex data out earlier.
EUR/USD Analysis
The pair traded between $1.3590 and $1.3630 last night in the US before it opened near the low end of that range at $1.3591.
GBP/USD Analysis
The pair closed in NY Wednesday at $1.6711 after rate had been pressed lower through the day, further extending its corrective pullback from recent highs of $1.6883 (May27).
USD/JPY Analysis
The pair opened at Y101.84 this morning after recovering off a 1-week low at Y101.64 last night in the US and was initially held in a slightly higher Y101.68 to Y101.89 range in early dealings.
Capex – QI 2014
• Actual capital spending fell by 4.2% in QI and will make a small negative contribution to QI GDP growth.
BOJ Shirai: See 2% CPI Without Much Stress; Timing Uncertain
Bank of Japan board member Sayuri Shirai said Thursday that the BOJ can anchor inflation around 2% without causing too much stress on households and
Asian Currencies Technicals
AUD/USD continues to find support ahead of the key $0.9176-0.9205 region. The $0.9277 level has recently capped the bounces off this support region and