Forex Analysis
EUR/USD Analysis
The pair closed in NY Monday at $1.3760 after rate had seen intraday highs of $1.3800, following the release of stronger than forecast Eurozone PMI data, with rate then easing back to $1.3743 in NY on general dollar strength,
USD/JPY Analysis
The pair started at Y103.01 in Asia while euro-yen opened at Y141.75, dollar bulls pushed both rates to highs of Y103.13 & Y141.87 in early morning session but retreats to a low of Y102.99 & Y141.70 respectively.
AUD/USD Analysis
Quiet session in thin trading despite some major events throughout the day. The AUD shorts had no extra joy from the RBA Minutes (virtually unchanged) nor Guy Debelle’s comments (he stuck to the effects of Basel III),
USDJPY – close < 103.21/00 needed to confirm shooting star
Friday’s bearish shooting star reversal candle awaits confirmation today in order to signify further weakness ahead; we need to see a close below 102.99 (in the least 103.21) to validate the significance.
EURUSD – negates h&s top; threatening test of 1.3811/28
The Euro failed to hold below a small head & shoulders top and is again approaching 1.3832; above that level the idea of a wave-(2) correction is negated. Needless to say, confidence is waning concerning this outlook.
EUR Mid-day Analysis
After seeing some choppy price action through the Euro zone data window, the Euro has regained itsfooting and is posting decent early gains this morning. While today’s “flash” PMI data underscored the wideninggap between German and
CHF Mid-day Analysis
In spite of weak inflation and strong global risk sentiment, the Swiss Franc remains well supported and iswithin striking distance of reaching new high ground early this week.
JPY Mid-day Analysis
Considering the support it found during the Asian session, the lack of upside follow-though this morningmay indicate that the Yen is heading down towards much lower price levels during the near future.
USD Mid-day Analysis
Heading into the “home stretch” before the FOMC meeting on Wednesday, the Dollar is showinglackluster price action and continues to slide further away from last Friday’s spike highs.
The Global Macro Pulse
The US Treasury 10y yield fell 2.6bp on the Asian open to 2.838%. This helped push EURUSD higher to 1.3760, and USDJPY lower to 102.80. NZD also edged higher to 0.824 while AUD was largely stable at 0.896,
Asian FX Update
This could be a significantly volatile week as the Federal Reserve releases is policy decision later this week. With economicand jobs data still looking decent, the market has put a bit of vigour back in to shorter term yields.
FX Daily
Lots on the agenda today. Main releases will be French and German flash PMI. We look for a very moderate increase in line with consensus. Following a steady increase earlier in the year, PMIs have been going sideways lately and