Forex Analysis
JPY Mid-day Analysis
Japanese economic data overnight was non descript with Japanese leading indicators showing minimalgains. However, with somewhat discouraging Chinese export data overnight and another decline in the ShanghaiComposite,
USD Mid-day Analysis
e the Dollar is minimally higher to start today, it is starting off the trade below the prior twosession’s highs. The Dollar should be garnering some lift from anticipation of a strong US payroll report,
Central European Daily
Czech retail sales soared in November Polish and Hungarian bond auctions attract heavy bids The Czech koruna was supported by better than expected data yesterday that included GDP revision,
JPY: buckle up
With the short term downside risks for US Treasury rates and potential profit-taking on Japanese stocks, the risks are for significant JPY strengthening.
FX Daily
Focus will be on the US employment report for December and we expect it to be strong. We expect non-farm payrolls to have increased by 205,000 in December mainly driven by
GBP/USD Analysis
The pair closed in NY Thursday at $1.6482 after rate had seen extended highs of $1.6497 (as market reacted to no accompanying statement on unemployment in forward guidance as the Bank announced unchanged rates)
EUR/USD Analysis
It’s been another lackluster session in Asia for the euro-zone currency after it fell to a $1.3549 low last night following the ECB rate decision and President Mario Draghi’s press conference.
AUD/USD Analysis
Aussie started the session heading lower after opening at $0.8900. The pair then dropped to a $0.8876 low as a weak start for regional stocks fueled a rise in risk aversion.
USD/JPY Analysis
JPY had a rather subdued morning in Asia today after it had opened at Y104.81 vs the dollar and at Y142.65 on the euro. Early market action saw dollar-yen trading in a Y104.78 to Y104.86 range,
USDJPY – wave-(4) correction expected to form range/ mark time
The divergence in momentum between the tops of wave-3 & 5 (12/3 & 1/2) do suggest that a larger wave-(3) rally from October is complete.
USDCAD – completing massive weekly base; can still see test of 1.0603
$CAD is breaking out of a massive bullish basing pattern but we still need to see 2 weekly closes above the 1.07 level to confirm that the broader projection towards 1.17/19 is underway.
Euro area: ECB – dovish, but not more than in December
The ECB met widespread expectations of a fairly uneventful January Governing Council meeting. The Governing Council left key rates unchanged and by and large delivered an unchanged statement compared with the December meeting.