Forex Analysis
GBP/USD Analysis
The pair closed in NY Tuesday at $1.6749 after rate had corrected back from early session highs of $1.6782 to $1.6731.
USD/JPY Analysis
The pair started at Y102.51 in Asia Wednesday, retracing from NY’s high of Y102.56 and continued its bullish tone with Japanese names paying up the pair in early session.
EUR: “Time For Talking Nearly Over”
The euro weakened in May following numerous ECB Council members’ comments that made it explicitly clear that additional monetary easing would be taken at the next meeting on 5th June.
JP Morgan: GBP/USD View
In GBP/USD, JP Morgan notes that the latest break below daily trend line support (now resistance at 1.6781) delivered additional
JP Morgan: EUR/USD View
The cautious up-trend of the USD over the course of the last 4-5 weeks has finally reached crucial resistance barriers, which if taken out, would constitute a game change on bigger scale, notes JP Morgan.
Financial Markets Wrap – May: Finally Cracking
– Global bond yields decline through May amid expectations that policy rates will remain low for longer.
EUR Mid-day Analysis
While the June Euro has managed to respect the 1.3586 level 4 times on the charts in the last 5 sessions,the real test of the Euro looms on Thursday in the face of an ECB rate decision.
CHF Mid-day Analysis
The June Swiss did see a fresh lower low for the move overnight but the market has rejected thatbreakout and has recovered slightly in the wake of favorable Euro zone jobless results.
JPY Mid-day Analysis
The Yen has initially managed to respect the prior session’s low but a decline in Japanese April wageslooks to leave the path of least resistance pointing downward.
USD Mid-day Analysis
While the Dollar is slightly lower to start today the currency remains within striking distance of its recenthighs. Factory orders and Auto sales will be released today and
CAD Mid-day Analysis
Slack Canadian manufacturing growth and a minor setback in trade talks with the EU hascontributed to a slide this week in the Canadian.
GBP Mid-day Analysis
The Pound has slowly recovered in the wake of a shift back toward a global risk-on vibe.