Forex Analysis

FX Daily

While ISM manufacturing has recovered a lot from the winter lows, we believe it canimprove a bit further in the short term before moderating in Q3.

German bond yields fell yesterday, as did US yields, but the moves were quite limited. The German 10-year yield ended the day lower by some 2bp,

The ECB took a significant easing step in June and the meeting on Thursday islikely to provide much less new information.

Aussie started at $0.9433 this morning and briefly traded up to $0.9437 before turning lower during the early hours of the session.

It’s been another dull morning for the euro after it opened at $1.3692 today in the Asia-Pacific hours.

The pair closed in NY Monday at $1.7106 after rate had been driven higher by end month demand which took it to extended highs

JPY started this morning’s session at Y101.32 and spent the early hours between Y101.30 and Y101.36 in quiet dealings.

Past JPY weakness to help One of the major disappointments for Japan over the past few years was the rapidly deteriorating trade balance,

Euro zone inflation readings were as expected and for some that might have been positive enough tosupport the Euro,

A pattern of higher highs and higher lows leaves the technical picture in the Swiss in the bull’s court.

The Yen has remained in an upward track overnight in the face of discouraging Japanese housing starts forMay and

While the Dollar could have been supported by somewhat favorable US scheduled data flows at theend of last week,