Forex Analysis

Central European Daily

Czechs will sign EU’s Fiscal Compact CNB releases a new inflation forecast Yesterday, the meeting of the National Bank of Poland (NBP)

FX Daily: Going negative matters

There are three reasons why negative ECB rates can have a large impact on the euro.

The Global Macro Pulse

The better than expected US non-manufacturing ISM has boosted risky assets in Asia. All Asian equity markets have risen, with the Nikkei up 0.4%, the Hang Seng up 0.5% and Kospi up 0.8%.

The main event is the ECB meeting, where we expect a refi rate cut to 0.1%. During January we have seen low inflation and declining inflation expectations combined with higher short-term money market rates

GBP/USD Analysis

The pair closed in NY Wednesday at $1.6310 after rate had been pressed to lows of $1.6252, challenging its 100-dma (today at $1.6255) as euro-sterling was forced through resistance at stg0.8327-33 (high stg0.8334) to

EUR/USD Analysis

The pair traded a $1.3503 to $1.3555 range in the US last night before starting this morning’s session at $1.3533. The early risk-on environment, which fueled euro-yen’s initial gains coupled with the positive open in

AUD/USD Analysis

Another positive session for the Aussie this morning as it gained to 3-week high following the release of another set of buoyant economic numbers.

USD/JPY Analysis

The pair weakened at the start of the session, giving a leg up to dollar-yen and euro-yen minutes after Japanese stock markets opened this morning.

EUR Mid-day Analysis

While the Euro doesn’t look to be in a definitive upward track on the charts, mostly positive action inEuropean equities might provide a cushion for the Euro to start the Wednesday trade.

CHF Mid-day Analysis

The Swiss has started out with a slightly weaker track on the charts and it has also fallen back below the100 day moving average at 1.1064. Critical support might be seen down at 1.1038 but

JPY Mid-day Analysis

The Yen looks to remain in an uptrend pattern, with higher highs and higher lows consistently unfolding formost of the last 3 weeks. Bargain hunting in the Nikkei might be attracting some long interest into the Yen,

USD Mid-day Analysis

While the Dollar was waffling around both sides of unchanged this morning, the Greenback might bevulnerable to its upcoming data flows.