Latest Forex Research

Daily FX Update

Markets are relatively quiet as global PMIs suggest ongoing expansion in both manufacturing and services with some evidence of deceleration.

Talk that the ECB hasn’t fully decided to ease in June has provided some support for the Euro over thelast 24 hours. However, somewhat slack Euro zone May PMI data has robbed the Euro of buying interest and

CHF Mid-day Analysis

Like the Euro, the Swiss appears to be short term technically and fundamentally oversold. In fact, thespike down trade to 1.1155 was clearly rejected and

JPY Mid-day Analysis

The Yen was unable to hold all of the recent gains and the reversal probably damages the bull casesignificantly. Some suggest that the May gains in the Yen were the result of world-wide slowing fears and

USD Mid-day Analysis

The Dollar showed upside action yesterday ahead of the FOMC release but then gave ground as thenews was digested by the trade.

CAD Mid-day Analysis

With the Canadian simply losing ground this week, in the wake of a rather thin economicreport slate world-wide that could make the US claims results later this morning more important than normal.

GBP Mid-day Analysis

The Pound saw an initial positive reaction to 1st quarter GDP and UK Business investment resultsovernight but those gains failed to hold.

EZ PMI Dip, Deflationary Pressures Keep ECB On Alert

Eurozone economic activity slipped marginally in May, according to the ‘flash’ estimate of purchasing managers’ index data from Markit Economics,

Central European Daily

NBP’s Belka does not rule out deflation The Central European currencies slightly strengthened against the euro on Wednesday.

Euro area: PMIs highlight that France needs so much more than the ECB’s help

PMI numbers for the Euro area came in in line with expectations with the composite index almost unchanged. France was a disappointment and continues to struggle with problems that the ECB cannot solve.

Norway: Labour market – still sideways trend

• LFS unemployment fell to 3.3% • But the trend is sideways • Still somewhat on the strong side to Norges Bank

Commerzbank: EUR/USD View

EUR/USD has sold off to the 200 day ma at 1.3634, and while this has provoked some consolidation it is not expected to hold, notes Commerzbank.