Forex Analysis

Weekly Report

Subdued buying interest in British pound With the uncertainties linked to the Scottish referendum behind us and

While the Euro has managed a bounce off its most recent spike low, the currency is fighting an uphill battle because

While most of the big spike down washout from yesterday was rejected,

The Yen has forged a consolidation zone around both sides of the 92.00 level but

The Dollar remains pinned to its recent highs but bullish sentiment is also sky-high and

A fresh lower low on the charts, bearish dialogue from the BOC and

In addition to technical damage on the charts that started on Wednesday,

From the ECB policy meeting next Thursday, we expect more details on the ABS and covered bond purchase programmes but

US: Q2 GDP (T), Consumer Sentiment: We expect second quarter growth will be revised up to 4.6% from the current 4.2% reading,

A light data calendar today. The only notable release is the second revision of US Q3GDP.

Bonds rallied and equities took a beating yesterday on the back of geopolitical concerns, while curves bull-flattened.

The pair closed in NY Thursday at $1.6315 after rate had recovered off intraday lows of $1.6276 to $1.6342,