Forex Analysis
EUR/USD Analysis
The pair opened at $1.3635 this morning after a $1.3612 to $1.3642 range last night in the US. Early dealings were muted, with euro-dollar shuffling between $1.3634 and $1.3637 initially.
USD/JPY Analysis
JPY opened at Y101.98 this morning in Asia and made a brief move through Y102.00 for a high of Y102.04 while euro-yen opened at Y139.04.
GBP/USD Analysis
The pair closed in NY Tuesday at $1.6810 after rate was pressed back from early European session highs of $1.6883 to a low of $1.6782 during
EUR Mid-day Analysis
The Euro probably became short term oversold this morning into its lows and we suspect that the Eurowill derive a small and temporary bounce from the US durable goods report.
CHF Mid-day Analysis
Like the Euro, the Swiss remains entrenched in a downtrend pattern on its charts. With Swiss and EUofficials generally pleased with the recent pattern of declines in European currency exchange rates,
JPY Mid-day Analysis
With favorable talk from the BOJ overnight, the Yen looks to be facing some safe haven liquidationpressure.
USD Mid-day Analysis
Some traders might look to the quasi-double top on the Dollar chart this morning and predict somedownside action ahead.
CAD Mid-day Analysis
An impressive range up extension overnight has put the Canadian up to the highest levelsince the early May peaks.
GBP Mid-day Analysis
While the BOE floated some hawkish dialogue overnight, a fresh higher high for the move was rejectedand the pendulum has shifted in favor of the bear camp.
Central European Daily
Another 10 bps rate cut in Hungary today, focus on the NBH statement The National Bank of Hungary keeps rate setting meeting today at 14.00 CET.
The Global Macro Pulse
In FX, the dollar has weakened against the EUR and AUD, but is flat against the yen. AUDUSD corrected up to 0.9259 and EURUSD rose to 1.3657 despite dovish sounding comments from ECB President Draghi overnight.
FX Daily
In the data calendar the focus will mainly be on US data. Durable goods orders forApril should give us an idea of the strength of the rebound in business capitalexpenditure in Q2.