Forex Analysis

EUR/USD Analysis

The pair ended NY session at $1.2716 after marking a trading range of $1.2716 to $1.2784.

AUD/USD grinding steadily higher after the Q3 CPI today, which initially saw selling to

The pair started at Y107.00 in Asia Wednesday, early demand lifted the rate to Y107.12 before recovery lower to

The Euro tried to put together a rally overnight but talk of fresh QE and

A big range up attempt overnight was rejected and appears to have failed.

Lingering political fears, Japanese economic downgrades and somewhat disappointing Chinese economic

The Dollar continues to waffle around both sides of unchanged levels for the week but

We think the Canadian remains fundamentally and technically oversold.

It would appear that global economic anxiety is declining and that stimulus talk from

News of a portfolio reallocation at the Government Pension Investment Fund (GPIF) seems to

In FX, AUD leaped above 0.88 and EUR rebounded to 1.280 post the China data.

Another quiet day on the data front. Only number of interest will be US existing homesales, which is expected to have stabilised over the summer.