Forex Analysis
AUD/USD Analysis
Aussie also witnessed a subdued session this morning amid a lack of any major economic data releases. A holiday in Japan and a shortened trading week due to the Christmas holidays also essentially kept interest in aussie-dollar at a minimum,
USD/JPY Analysis
Japanese markets were closed today to mark the Emperor’s birthday,and that left little else for the rest of the region to trade off, keeping theyen holding tight ranges through the entire morning.
Weekly Economic & Financial Commentary
U.S. Review A Little Less Punch in an Awfully Big Bowl * Citing progress in the labor market and more balanced risks to the outlook, the FOMC has decided to begin scaling back the pace of its asset purchases in January.
Forex Weekly Report
UK unemployment continues to contract The unexpected decline of unemployment to a 4 year low at 7.4% should be seen as new evidence of how sharp the current UK recovery is.
USDJPY – 104.60 symmetry target met; satisfies wave-5 of (3)
We marked the midpoint in $JPY a few weeks ago by finding the longest uptrend which is often “wave-3 of 3”. The midpoint allows us to project targets based on symmetry.
EUR Mid-day Analysis
Modest increases with German Consumer Sentiment and French Business Sentiment have helped theEuro rebound from a new weekly low, although prices are still struggling to hold their ground in positive territorythis morning.
CHF Mid-day Analysis
While a morning rally has taken the Swiss Franc into positive territory, it is showing little inclination forrecovering any large portion of this week’s steep losses. Sluggish inflation levels remains a longer-term problemfor the Swiss Franc,
JPY Mid-day Analysis
With few surprises from last night’s Bank of Japan meeting results, the Yen remains on the defensive afterreaching another new multi-year low this morning.
USD Mid-day Analysis
Although it has backed off from the overnight highs, the Dollar continues to hold onto mild strength thismorning and is close to unchanged levels now for the month of December.
Japan: BoJ on hold but keeps options open
The BoJ maintained its monetary policy unchanged today but keeps its options open, so additional easing in 2014 cannot be dismissed. But the BoJ will likely increase pressure on the government to
The Global Macro Pulse
The USD was largely steady against majors but strengthened further against EM Asia FX. EUR was essentially unchanged at 1.364. AUD attempted a small rally to 0.888 before retracing to 0.887.
FX Daily
Very little of wider interest in the calendar today. With markets increasingly gearing down for the holiday season liquidity could become increasingly thin in coming days.