Forex Analysis
GBP Mid-day Analysis
The Pound was able to claw out a minimal higher high this morning on the charts, but weak US equitymarket action and fear of hawkish dialogue from the Fed Chairman on
FX Daily: Japan’s BoP, flows and NISA as USD/JPY supporters
We see Japanese money helped curb the upswing in the yen after the emerging market (EM) shock in late January.Japan posted a C/A deficit of ¥638.6bn in December,
The Global Macro Pulse
The USD has been essentially directionless. Although AUDUSD is down slightly to 0.8942, EURUSD and USDJPY are roughly unchanged at 1.3626 and 102.38.
FX Daily
Quiet start to the week with no tier-1 data released. Italian industrial production and the euro sentix survey are the only releases and are unlikely to have a market impact.
GBP/USD Analysis
The pair closed in NY $1.6411 after the release of weaker than forecast US NFP data had helped the rate to recover from its post UK IP/MP release lows of $1.6401 to a post NFP high of $1.6419.
EUR/USD Analysis
The pair started in Asia trading a little lower than the $1.3633 NY close on Friday, and then went below the initial support at the $1.3650 low from Friday, triggering minor stops below this level.
AUD/USD Analysis
The rate got up to a $0.8999 high on Friday in the US but failed to break above $0.9000 in the face of rumored stiff selling interest there.
Scandi markets ahead: Riksbank meeting, Inflation data and government bond auctions
In Sweden, the Riksbank monetary policy decision (due Thursday at 09:30 CET) willdominate the week ahead and, with a high degree of confidence, we expect nochange in the repo rate.
USD/JPY Analysis
The pair recovered after Friday’s sharp move lower following the US NFP release with initial resistance noted at the Y102.58 high that was seen in the aftermath of the data release.
Markets Outlook – Acronyms Spell It Out
As for where market pricing has settled after all the RBNZ announcements and commentary, and the heaving Q4 labour market data, it is pretty much in line with the 90-day bank bill track as prescribed in the
Weekly Commentary
Recent developments – a slowly strengthening New Zealandlabour market, the Reserve Bank of Australia’s decision totake rate cuts off the table for the time being,
Weekly CFTC Trader Positioning Data
• Shifting risk appetite, ISM-related concerns over the pace of US growth, and central bank-driven positioning were the key themes driving sentiment this week.