Forex Analysis

GBP/USD Analysis

The pair closed in NY Wednesday at $1.6370 having reversed off an early US session high of $1.6436 to trade to extended lows of $1.6323 as market moved in to

EUR/USD Analysis

The pair was surprisingly stronger this morning, despite the broader US dollar gains elsewhere. Euro-dollar started in Asia at $1.3623 and briefly sank below $1.3600 for

A bruising day for the Aussie this morning as it weakened broadly in the wake of surprisingly soft jobs data and seeing barely any recovery off the initial lows so far in the Asia-Pacific session today.

USD/JPY Analysis

The pair opened at Y104.56 this morning in Asia, just off last night’s Y104.70 high seen during the US session. The pair witnessed a choppy start to the morning with dollar-yen getting whipped about but

Waiting in the wings – NZ Consumer Price Index preview, Q4 2013

Lower fuel prices and a strong New Zealand dollar helped to restrain inflation to an estimated 1.4% in the year to December. Home-grown inflation pressures are picking up as the economy accelerates,

CNY: Modest forecast changes

Due to the time factor (time flies!) we make a modest change to our CNY forecast, where we expect slightly stronger CNY vs. the USD than our September forecast.

Brazil: The BCB to reduce the pace of tightening

We believe that Banco Central do Brazil (BCB) is now close to ending its tightening cycle and expect it to deliver one final hike of 25 bp, taking the benchmark policy rate to 10.25%.

USDJPY – another break of 103.90/80 projects to target cluster near ~102

The head & shoulders top outlined on Monday fell short of the 102.50/39 target zone but did see a break of key neckline support. The size, both in time & price, of the correction from 105.44 is the largest since October and

EURUSD – below 1.3595 July uptrend reengages impulsive decline

The Euro has satisfied the price requirement for this correction which makes 1.37 a likely high for the near to medium term. Whether wave-(2) is complete (or just wave-a of (2)) the target for the next leg lower is now 1.3364 at a minimum.

CAD Mid-day Analysis

Another lower low probe on the charts, leaves the bear camp in the Canadian supremelyconfident, even though the Canadian has become significantly oversold from a technical perspective.

EUR Mid-day Analysis

Technical damage on the Euro charts overnight would seem to set the stage for more downside actionahead, especially if US data later this morning shows even minimally positive results.

CHF Mid-day Analysis

The March Swiss remained under pressure overnight despite recent news of a fairly impressive gain inSwiss retail sales of 4.2% in November relative to the prior month.