Forex Analysis
USD Mid-day Analysis
While the Dollar is showing initial positive action today, it remains moderately below the prior twosession’s highs. Lingering concern toward the economic track in China provides some lift to the Dollar,
Central European Daily
The forint weakens, but it still trades sideways The year 2014 has been started with HUF weakening and the EUR/HUF pair moved from the levels around 296 at the end of 2013 close to 300 within 5 days.
FX Daily
In the euro area flash inflation will be released. We have revised our forecast for euro inflation up to 0.7% as the German HICP was not as low as we had expected.
EUR/USD Analysis
The pair traded between $1.3593 and $1.3653 in New York and started in Asia at $1.3629 this morning. It found itself trapped between $1.3626 and $1.3636 in the early hours of Tuesday amid a lack of significant flows in either direction.
GBP/USD Analysis
The pair closed in NY Monday at $1.6402 after rate had managed to recover off a traded low of $1.6337 (soft UK svcs PMI release) to $1.6434 in the NY session,
AUD/USD Analysis
Aussie started this morning at $0.8967 and was held between $0.8960 and $0.8970 in the early hours of trade today. It slipped to $0.8957 soon after Japanese stocks opened lower but found a mild but
USD/JPY Analysis
The pair got an early lift as the dollar and euro retreated after Japanese stocks started the morning in negative territory. Dollar-yen was holding near the early low of Y104.20 while euro-yen was near Y142.02 at the start of the stock market session.
EUR Mid-day Analysis
The inability to hold above the 50 day moving average last week and the initial weakness this morningfavors the bear case. With somewhat slack Euro zone data overnight and
CHF Mid-day Analysis
The March Swiss has remained below its 50 day moving average and it has initially extended the sharpdownward thrust on the charts. In fact, the March Swiss overnight reached the lowest level since December 4th.
JPY Mid-day Analysis
While the Yen has managed to rise against the downtrend pattern at times over the prior 3 trading sessions,that action probably served to balance the oversold technical condition and
USD Mid-day Analysis
Choppy to lower global equity market action, slack Chinese economic data and residual hawkishsentiment toward the US economy looks to leave the Dollar with a slight upward bias today.
ECB preview – no need for immediate action
The ECB meeting this week should be fairly calm. We expect no changes to the key monetary policy rates and no new unconventional measures to be in the pipeline.