Forex Analysis
CHF Mid-day Analysis
Having come through the Swiss National Bank meeting window without facing too many headwinds, theSwiss Franc has held its ground and remains fairly well supported this morning.
JPY Mid-day Analysis
Safe-haven support is providing little if any benefit for the Yen, as this week’s recovery move failed to retestthe 98.00 level before losing upside momentum and heading lower.
USD Mid-day Analysis
While failing to lift decisively clear of its recent lows, the Dollar is showing modest signs of strengthearly in Thursday’s trading session. Global markets may be reflecting some sense of risk aversion heading intoyear’s end,
What vol implied ranges tell us about 2014
On EUR/USD, spot has traded a 1.29 handle in each of the last 10years. 2014 is not the moment to break the pattern, given the skew ofbig picture macro risks, from slowly pricing US rate hikes in the shortendof the USD yield curve,
The Global Macro Pulse
AUDUSD fell to 0.9025 despite a larger-than-expected rise in employment in November. AUDNZD dipped to a post 2008 low of 1.0906, after the more hawkish RBNZ monetary policy statement.
FX Daily
ECB-president Mario Draghi will speak before the European Parliament in connection with a discussion of ECB’s annual rapport. There could be downside risk to euro area industrial production for October as industrial production disappointed in both Germany and France.
USDCAD – channel, pivot and Fibonacci support at 1.0562
$CAD did not offer the “…Friday close above 1.0670…” that is necessary to break multi-year resistance. Instead prices have retraced to recent pivots at 1.0609 and are approaching critical support at 1.0562.
AUDUSD – 4 targets project a wave-(5) low between .8831-.8778
Aussie is still set up to reach the midpoint and head & shoulders target near .8780. Three wave lower are in place and yesterday prices completed wave-(4) by retracing right to key resistance at
EUR Mid-day Analysis
Expectations that the ECB will remain “on hold” with fresh easing measures after their November rate cutmove has been a key source of support during the Euro’s recent up move,
CHF Mid-day Analysis
Recent improvement with Swiss inflation levels, which have now climbed back to positive year-on-yearreadings for the first time in over two years, have played a major role in the Swiss Franc making a strong upsidemove this month.
JPY Mid-day Analysis
In spite of calmer overseas risk conditions this week, the Yen has been able to maintain upside momentumgoing into this morning’s trading. A rebound in Japanese Machinery Orders helped to lift prices,
USD Mid-day Analysis
While managing to put some near-term brakes on its recent pullback, the Dollar is showing few signs ofmaking any sort of extensive recovery coming into this morning’s trading.