Forex Analysis
GBP Mid-day Analysis
The Pound saw an initial positive reaction to 1st quarter GDP and UK Business investment resultsovernight but those gains failed to hold.
Central European Daily
NBP’s Belka does not rule out deflation The Central European currencies slightly strengthened against the euro on Wednesday.
Commerzbank: EUR/USD View
EUR/USD has sold off to the 200 day ma at 1.3634, and while this has provoked some consolidation it is not expected to hold, notes Commerzbank.
The Global Macro Pulse
Within the G10, AUDUSD has outperformed, opening weak, but rallying after the China PMI to 0.9266. USDJPY has pushed up to 101.65 and EURUSD is marginally lower at 1.3674.
FI Eye-Opener: Something good
Government bond yields rose on Wednesday as the Fed minutes failed to turn the yields that crept higher. US 10-year yield rose to 2.54%. German counterparts rose slightly to 1.38%.
AUD/USD Analysis
Aussie was the main beneficiary of the surprisingly upbeat HSBC flash PMI reading out this morning. Aussie-dollar opened at $0.9251 and spent the early hours drifting lower, in part due to the broader US dollar strength.
EUR/USD Analysis
It’s been another muted session for the euro, after marking some rather hefty losses to a $1.3635 low during the US session last night. Euro-dollar opened at $1.3687 this morning but
GBP/USD Analysis
The pair closed in NY Wednesday at $1.6899 after rate had seen extended recovery highs of $1.6922, on reaction to the release of strong retail sales data,
USD/JPY Analysis
JPY rose to its strongest vs the dollar since early-Feb last night during the European session but was in a mild recovery mode since the end of the US session.
EUR Mid-day Analysis
Like the Dollar, the Euro has tracked sideways and in a very tight range. In other words, there is very littledistinction between the Dollar, Euro, Swiss and Canadian and
CHF Mid-day Analysis
While the Swiss showed a temporary rally overnight, the trade clearly wasn’t interested in supporting thatkind of move.