Forex Analysis

EUR Mid-day Analysis

After forging a fresh downside breakout overnight, the Euro has recovered slightly on the heels of better

The Swiss trend remains down but perhaps the Swiss became temporarily oversold into its overnight lows.

A fresh downside breakout in the Yen overnight suggests that more declines are ahead,

The Dollar might have become temporarily overbought with its climb above 86.00 but

Global data has marginally improved but that has not resulted in a definitive risk-on-extension.

The bull camp in the Pound has to be discouraged by slack UK data points overnight and

Today’s Canadian Monetary Policy Report made scant mention of the precipitous fall in oil prices over the past three months,

The USD regained ground in Asia trading. AUD shrugged off better China PMI, extending losses to 0.876.

Main event will be euro Flash PMI for October, which provides country details forGermany and France.

Yesterday’s market moves ended up rather limited. German yields saw very little moves,

The pair had a relatively busy start this morning, opening at $0.8779 and then dropping quickly to $0.8757,

The pair closed in NY Wednesday at $1.6051 after rate had managed to recover off session lows of $1.6012,