Latest Forex Research

Central European Daily

Another 10 bps rate cut in Hungary today, focus on the NBH statement The National Bank of Hungary keeps rate setting meeting today at 14.00 CET.

FX Daily Majors

Today’s highlights: USDCAD remains under downside pressure, targeting May’s low at 1.0813 next, with scope for 1.0738/31.

Société Générale: EUR/USD View

EU elections threw up headlines as UKIP and the Front National scored notable gains. But financial markets were prepared for these results and

Swedish trade balance: Exports finally recovering

Exports of goods rose by a mere 1% over the year in April. However, this is a decent figure taking into account that the calendar weighed on growth (one working day less than in April last year).

Daily Technical Report

EUR/USD has breached the strong support at1.3643 (see also the 200 day moving average),but has thus far failed to hold below it.

In FX, the dollar has weakened against the EUR and AUD, but is flat against the yen. AUDUSD corrected up to 0.9259 and EURUSD rose to 1.3657 despite dovish sounding comments from ECB President Draghi overnight.

EUR/USD over 1.3675 would target 1.3730 before down

EUR/USD: Over 1.3675 targets 1.3730 before down. There is an ongoing attempt to recover partial losses. A move over the 8day “Tenkan-Sen” (1.3675) would target 1.3730\34 before down again.

UBS Morning Adviser

CNH implied forward yield has been rising in spite of ample onshore liquidity In recent weeks the USDCNH forward curve has been climbing steadily;

FX Daily

In the data calendar the focus will mainly be on US data. Durable goods orders forApril should give us an idea of the strength of the rebound in business capitalexpenditure in Q2.

FI Eye-Opener: Post-election rally in the periphery

Longer German bond yields edged slightly higher yesterday and the curve steepened, but trading volumes were very subdued due to the US and UK holidays.

Daily Market Technicals

After beginning the new week below the 200-DMA ($1.3640) and looking a little heavy, the pair closed back above the 200-DMA on Monday which eased the bearish pressure a little.

AUD/USD Analysis

Aussie started at $0.9237 this morning following Monday’s $0.9230/49 trading range. Early trading action saw speculators taking on rumored offers at $0.9250,