Forex Analysis
GBP/USD Analysis
The pair closed in NY Tuesday at $1.6839 after rate had rallied earlier in the day from $1.6802 to $1.6870, as traders reacted to stronger than forecast UK inflation data,
USD/JPY Analysis
JPY started at Y101.33 against the dollar this morning and at Y138.83 against the euro, and spent the early hours of the session stuck in narrow ranges.
EUR: Don’t Forget The EU Elections
In 2014 economics, not politics, has been the chief concern for the EUR and European assets. Draghi, after all, provided an implicit guarantee in 2012 to do whatever it takes to save the euro,
EUR Mid-day Analysis
As suggested already German PPI data probably provided some early selling in the Euro and with theflow of German price data digested, it is clear that the Euro might remain pinned to its recent lows.
CHF Mid-day Analysis
Unlike the Euro which has managed to consolidate periodically, the Swiss has remained in a negativechart pattern. In fact, with an extending pattern of lower highs and lower lows,
JPY Mid-day Analysis
While the June Yen managed an upside breakout yesterday, the trade was unable to hold those gainsdespite seeing some rather impressive Japanese Machinery orders results yesterday.
USD Mid-day Analysis
The Dollar starts out on a positive track today in the wake of negative German inflation readings andongoing ideas that the ECB is preparing to ease next month.
CAD Mid-day Analysis
The Canadian appears to have run into a moderate wall of resistance around 92.00 butpart of that loss of upside momentum might be the result of periodic recovery action in the US Dollar.
GBP Mid-day Analysis
The Pound looks to have won by default overnight. While UK CPI, PPI and RPI readings were justbarely above unchanged, compared to the weaker German inflation readings,
JPY waiting for higher US rates
We have been the coherent JPY-bears for two years, and still see a rate of 115-120 in 2015. However, a trend of yen depreciation will not continue uninterruptedly in the markets.
The Global Macro Pulse
USDJPY has continued to edged higher to 101.57 after failing to break meaningfully below 101.20 overnight. The AUD remained under pressure, dipping below 0.93,