Forex Analysis

Central European Daily

MNB left interest rates unchanged NBP’s Belka reiterates that rate cut in October is likely

The USD/JPY reached the 109 level earlier than our bullish forecast saw.

EURUSD traded flat at 1.2857, USDJPY softened to 108.6 and AUDUSD rose slightly to 0.8863 from its overnight low.

German bonds initially continued in a rallying mode yesterday, but gave up the earlier gains later.

The pair closed in NY Tuesday at $1.6388 after rate had managed to recover off an intraday low of $1.6303 to

The pair tried to recover some recently lost ground in overnight trade but continued to

The pair opened at Y108.89 this morning while euro-yen started at Y139.89 and

The Euro is catching a temporary break because of profit taking in the Dollar.

Despite the disappointing European economic news overnight, the Swiss has managed a corrective bounce.

The Yen has also managed a bounce that might be primarily the result of oversold technical condition but

The Dollar has become over extended from a technical and fundamental perspective.

The Canadian Dollar seems to have found a value zone above the 90.00 level.