Latest Forex Research

Daily Technical Report

EUR/USD is trying to stabilise after its recentsharp decline. Resistances for a short-termrebound are given by 1.3812 (02/05/2014 low)and 1.3871 (intraday high, see also the 50%retracement).

EUR/USD offers likely at 1.38 and USD/JPY sellers should act at 102.40

EUR/USD: EUR/USD trades with resistance at 1.3800 in mind. USD/JPY should test 102.36-102.41 but encounter offers there

Commerzbank Holds EUR/USD Short For 1.35

Last week EUR/USD formed a key day and week reversal and dropped through the eleven month support line a t 1.3797, notes Commerzbank.

UBS Morning Adviser

A risk-off trade by nature, but direct FX link is possible On Monday UBS Macro Strategy proffered the view that it is now time for investors to

FX Daily

We expect another small decline in German ZEW expectations in May after it hastrended downwards during the first few months of 2014.

FI Eye-Opener: No signs of any crisis in equity markets

Bond yields rose yesterday on both sides of the Atlantic, more so in the US than in the Euro zone. The US 10-year yield jumped by 4bp, while the German 10-year yield climbed a more subdued 1bp.

Daily Market Technicals

EUR/USD continues to find support ahead of the 100-DMA with a close below the 100-DMA not seen since early Feb. Initial resistance is now noted at Monday’s $1.3775 high with

AUD/USD Analysis

Aussie opened in Asia at $0.9362 this morning after a $0.9357 to $0.9386 range in the US last night but has seen a fairly muted morning so far.

GBP/USD Analysis

The pair closed in NY Monday at $1.6869 after rate had seen recovery highs of $1.6903 earlier in the session, off Friday lows of $1.6832 (Monday low $1.6840),

The pair started in Asia at $1.3757, not far from its overnight low of $1.3753 seen during the US hours. It saw a mild uptick through $1.3760 and got up to $1.3767, driven by early demand spotted from around $1.3750.

USD/JPY Analysis

The pair started Tuesday’s session at Y102.12 after it had traded a Y101.90 to Y102.19 range in the US last night. Early demand from Japanese names kept the pair inching higher,

FX Flows From Hedge Funds

Net euro selling over UBS’ books hit a 5-week high last week as ECB President Draghi indicated the strong euro’s disinflationary impact “will have to be addressed”.