Forex Analysis
Economy Watch – Post MPS: Outlook for Borrower
The RBNZ confirmed in its December Monetary Policy Statement that it will need to raise the Official Cash Rate next year. Its forecast 90-day bank bill track implies a first hike in March/April,
Markets Outlook – NZ On Fire
It just doesn’t get much better than this! At least that’s what corporate New Zealand is telling us. Today’s ANZ Business Opinion Survey reveals a business sector that is the most optimistic it has been in almost 20 years.
USD/JPY Analysis
Another yen play dominated session in Asia, dollar-yen started at Y102.67 while euro-yen opened at Y141.35 and the rates dipped to session lows of Y102.56 & Y141.23 respectively before rebounding back to highs of Y102.70 & Y141.41.
AUD/USD Analysis
Aussie remains on the weak side despite a lift after RBA Governor Stevens and other Board members fronted the House Economic Committee earlier in the session. Despite traders universally seeing his comments as being somewhat hawkish,
USDCAD – 1.0573/0597 range break to signal next larger move
Last week’s update called for a move to and bounce off of the 1.0562 target and prices actually rallied from 1.0561! The bounce was short-lived and ushers 2 different scenarios that are equally probable in the near-term.
EUR Mid-day Analysis
Mixed results from key data from the region has kept the Euro under wraps, as it has held its ground inclose proximity to the recent highs, but has been unable to mount any serious challenge to the key 138.00 levelso far this morning.
CHF Mid-day Analysis
After climbing above the 113.00 level again early this week, the Swiss Franc may be starting to showsigns of being top-heavy at these current prices levels. Rumors that the Swiss National Bank was buying Euros at
JPY Mid-day Analysis
While staying well above last Friday’s spike lows, the Yen is having a difficult time sustaining upsidemomentum early this week. A rebound in Japanese equities has dampened another recent source of safe-havensupport,
USD Mid-day Analysis
After a fairly subdued overnight session, the Dollar has gravitated back towards unchanged levelswhile staying well inside of Monday’s trading range as time is running out to build the case for a December Fedtapering move.
The Global Macro Pulse
The USD weakened marginally against majors. EUR edged higher to 1.3770, USDJPY traded down to 102.95, while AUD stayed in a tight range of 0.893 to 0.896. NZD strengthened steadily to 0.829,
GBP/USD Analysis
The pair closed in NY Monday at $1.6295 after rate had found decent support at $1.6290, holding on three challenges after rate had initially bounced to a session high of $1.6348, with lower recovery highs,