Forex Analysis
CAD Mid-day Analysis
Coiling in the Canadian around the 92.00 level has seemingly produced a value zone onthe charts, but like the Pound the Canadian might need to
GBP Mid-day Analysis
Unfortunately the June Pound did see a lower low overnight and it doesn’t appear as if global economicviews have suddenly improved and
Credit Agricole: EUR View
The EUR has remained under pressure, mainly on the back of rising expectations of the ECB cutting the deposit rate negative at next week’s policy meeting.
Commerzbank: EUR/JPY View
In EUR/JPY, Commerzbank notes that as it came under pressure yesterday and focus has shifted to the 200 day ma at 138.27 which is now exposed.
Commerzbank: GBP/USD View
GBP/USD accelerated lower, breaking below the 6 month uptrend, notes Commerzbank.
The Global Macro Pulse
AUDUSD rallied to 0.9276 in response to a better-than-expected capex survey. EURUSD traded to a low of 1.3589 before recovering to 1.3607 while USDJPY dipped to 101.69.
EUR: How To Position If ECB Goes Negative On Depo Rates Next Week?
The prevailing market view seems to be that the ECB will cut the main refi and deposit rates and will introduce additional liquidity measures – e.g. suspend the sterilization of SMP – next week, notes CitiFX.
AUD/USD Analysis
A relatively busy morning for the aussie today, as the market responded to the broader US dollar losses and the release of Q1 capex data out earlier.
EUR/USD Analysis
The pair traded between $1.3590 and $1.3630 last night in the US before it opened near the low end of that range at $1.3591.
GBP/USD Analysis
The pair closed in NY Wednesday at $1.6711 after rate had been pressed lower through the day, further extending its corrective pullback from recent highs of $1.6883 (May27).
USD/JPY Analysis
The pair opened at Y101.84 this morning after recovering off a 1-week low at Y101.64 last night in the US and was initially held in a slightly higher Y101.68 to Y101.89 range in early dealings.
EUR Mid-day Analysis
The Euro remains pinned to the bottom of its recent trading range despite very upbeat consumersentiment results.