Forex Analysis
FX Investors – Don’t give up!
It’s been a torrid year for FX investors. One measure of currency investorperformance, the Stark currency managers’ index, shows that investors aredown almost 4% this year.
The Global Macro Pulse
USDJPY took a dip to 102.40 before BoJ decision and has been unchanged post BoJ, EUR was flat at 1.381 ahead of today’s flash CPI release.
FI Eye-Opener: Bumps ahead for bonds
Shorter German bonds rallied yesterday on the back of soft German inflation numbers (see more below), while longer yields ended with rather small changes, as did US yields.
FX Daily
The FOMC meeting tonight should provide few surprises as the Fed tapersanother USD10bn of asset purchases.
AUD/USD Analysis
Aussie opened at $0.9268 today after a $0.9258 to $0.9283 range in the US last night. Early market action saw the pair inch up to a $0.9279 high, supported by rumored selling in euro-aussie cross,
EUR/USD Analysis
The pair opened in Asia at $1.3812 this morning after spending the US session trading between $1.3806 and $1.3857. Early dealings confined euro-dollar to an exceptionally narrow $1.3808 to
GBP/USD Analysis
The pair closed in NY Tuesday at $1.6828 after rate had been able to recover off post UK GDP react lows of $1.6792 to $1.6848, the correction aided by the downside pressure on euro-sterling,
USD/JPY Analysis
A slow start for the JPY as Tokyo markets re-opened after a holiday Tuesday. Note, Japan is marking the so-called Golden Week holidays and as such market activity is relatively subdued.
FOMC Preview: Fed to Point to Better Data but Otherwise Very Little Change
The FOMC meeting on Wednesday is likely to provide very little new information or to have much market impact. There will be no press conference or new projections and the statement is likely to only see very small changes.
EUR Mid-day Analysis
As suggested in Dollar coverage Euro zone data overnight left a lot to be desired as April ConsumerConfidence fell for the first time in a year and Industrial confidence also declined.
CHF Mid-day Analysis
While the path of least resistance in the Swiss remains up, the June Swiss is technically overbought andperhaps fundamentally expensive on its return to 1.14.
JPY Mid-day Analysis
With a partial holiday thinning conditions in the Yen, the slight downside breakout on the charts might bediscounted. However, flight to quality interest in the Yen is expected to