Forex Analysis
EUR/USD Analysis
The pair also started the session confined within a narrow $1.3640/50 range but got a boost from aussie-dollar’s rally through $0.9000 this morning.
GBP/USD Analysis
The pair closed in NY Monday at $1.6404, off NY session recovery highs of $1.6424 with rate basically pivoting $1.6400 through the day within a range of $1.6384-1.6428.
AUD/USD Analysis
Another positive session for aussie this morning as the pair rose to a near-1-month high following the release of housing finance data and the NAB’s business survey results.
USD/JPY Analysis
Dollar-yen opened at Y102.38 this morning while euro-yen opened at Y139.54. Dollar-yen spent most of the morning drifting lower, as the US currency lost ground against most other major FX units.
U.S. Dollar Near Two Week Low Before Yellen Speaks
The dollar wallowed near a two-week low against a basket of major currencies early on Tuesday, following a subdued U.S. session trade as markets hunkered down ahead of congressional testimony by new Federal Reserve Chief Janet Yellen.
NAB Business Survey – January 2014: Business reports strong conditions
Business conditions consolidated the strong pick up in December, reaching an almost 3 year high of +4 in January, from +3 in December. Conditions are now close to their long run average.
The euro threatened by deflation
Calm returns for emerging currencies Some calm returned to emerging markets last week, as several central banks (including those of Turkey, South Africa and India) announced interest rate hikes.
EUR Mid-day Analysis
The Euro continues to win by default as weakness in the US economy is hardly the foundation for asustained rally in the Euro. As suggested in the Dollar coverage this morning, residual windfall from
CHF Mid-day Analysis
While the Swiss remains near last week’s highs to start the new trading week, reports of a political flapwith the EU over an immigration issue might serve to limit the Swiss from a near term return to the 1.12 level.
JPY Mid-day Analysis
The Yen remains on a back foot into the new trading week as the gains in Asian equity markets overnightcontinued to extract safe haven interest from the Yen.
USD Mid-day Analysis
The Dollar remains vulnerable to macro economic differential pressure as a result of the disappointingUS Non Farm payroll report.
CAD Mid-day Analysis
The short covering impetus might have run its course and we also suspect that the Canadian has benefited somewhat from the retrenchment in the Dollar.