Forex Analysis

FX Daily

German factory orders are expected to rebound in June after a decline of 1.7% m/min May.

Aussie started this morning at $0.9305, and early attention was on the New Zealand jobs data.

The pair opened in Asia this morning at $1.3376 after last night’s $1.3358 to $1.3392 range during the US trading hours.

JPY had a quiet morning today in the Asia-Pacific, opening at Y102.60 vs the dlr and Y137.23 against the euro.

The pair closed in NY Tuesday at $1.6884 after rate had recovered through the NY session off a pullback low of $1.6850 to $1.6887.

EUR/USD has declined below the 1.3400 support level once again this morning, notes BNP Paribas.

In a telling reaction, the Euro has remained under pressure overnight despite generally favorable Eurozone retail sales and PMI results.

The Swiss remains in a downward track on the charts and it failed to show positive action in the face of

Despite a tight range in the Yen overnight, the currency remains in a pattern of lower highs and

Despite potentially undermining Euro zone economic data overnight the Dollar has remained in anupward track on its charts.

Residual strength in the Dollar, recovery action in the Pound and hints of a US/Canadian trade flap would seem to

The UK saw a stronger than expected July Services PMI result this morning and