Forex Analysis
FX Daily
Outside Scandinavia we have a relatively light calendar today. In the euro area bothFrance and Italy will release industrial production (IP) for April,
GBP/USD Analysis
The pair closed in NY Monday at $1.6800 after rate had been pulled lower by euro-dollar’s stronger corrective pullback, the rate pushing down to $1.6784 before drifting higher into the close.
USD/JPY Analysis
JPY started at Y102.53 in Asia Tuesday from US session of Y102.39-Y102.59, the spot made a minor bounce to daily high of Y102.57 before sliding down to session low of Y102.30.
EUR/USD Analysis
The pair closed in NY Monday at $1.3593, the rate having held close to its intraday trading base of $1.3582, after it had squeezed lower from earlier European highs of $1.3669.
CHF Mid-day Analysis
The Swiss looks to start the new trading week out on a soft track and it might be poised to slide backtoward last week’s initial lows down around the 1.1116 level.
EUR Mid-day Analysis
News that Portugal saw its 1st quarter GDP contract by 0.6% leaves the Euro under a weak bias to startthe new trading week.
JPY Mid-day Analysis
Favorable Japanese economic readings released overnight would seem to leave the Yen in a downwardtrack on its charts at the start of the new trading week.
USD Mid-day Analysis
The Dollar is slightly higher this morning in the wake of a generally positive reception to last Friday’spayroll results, lackluster Chinese commodity import data and
CAD Mid-day Analysis
Like the Pound, the Canadian continues to see mostly upbeat global economic conditionsand that leaves the bull camp in the Canadian with a slight edge.
GBP Mid-day Analysis
The Pound has managed to respect its 50 day moving average in the wake of mostly positive US data,signs of strong Chinese exports and favorable German Export news.
RMB policy shifting to neutral
After four months of turmoil in the RMB complex, FX policy seems to be transitioning to a more neutral stance.
BNP Paribas: EUR View
The effects of the ECB easing measures will begin to be felt more directly this week, says BNP Paribas.