Forex Analysis
Central European Daily
Protests in Ukraine and related threat of default might bring contagion to some parts of Eastern Europe Although Czech, Polish as well as Hungarian PMI yesterday showed better than expected results,
Australian capital flow picture still supportive
Australia’s Q3 balance of payments data showed a modest deterioration in the balance of payments picture, with a further widening in the current account deficit.
Morning FX Market Commentary
USD/JPY nearing the 2013 top The dollar was in good shape yesterday. EUR/USD finally dropped off the 1.36 area. USD/JPY is nearing the 2013 top.
The Global Macro Pulse
The dollar was stable against the EUR in Asia at 1.3536, but has rallied against most other currencies. AUDUSD has fallen to 0.9067 and USDJPY has risen to 103.34.
EUR/USD Analysis
Another relatively dull morning for the pair this morning, largely sidelined with most of the market focused on the yen and aussie. Euro-dollar starts at $1.3542 after a $1.3528 to $1.3561 US session range.
GBP/USD Analysis
The pair closed in NY Monday at $1.6356 after rate had pulled back from an earlier session high of $1.6443 (seen in Asia), getting a slight lift back on release of stronger than expected UK mfg PMI data,
GDP Preview – QIII 2013
The run of QIII data releases is approaching a peak, with the GDP data due tomorrow. Based on the data flow to date, weexpect real QIII GDP growth to print at 0.8% in the quarter.
RBA Board Meeting – December 2013
After cutting the cash rate in December 2011 & 2012 the RBA declined to make it a hat-trick and deliver a pre-Christmas rate cut in2013.
AUD/USD Analysis
The pair started this morning holding on either side of $0.9100, and managed to edge up to $0.9120 in early trade before it briefly climbed a couple of notches up further to
USD/JPY Analysis
Another day of continued weakness for the JPY, with dollar-yen rising to highest levels since May again and poised to test fresh highs for 2013.
US dollar set to strengthen in the short-term
USD: under pressure because of the Fed As expected, the US dollar failed to appreciate in a week shortened by the Thanksgiving celebration and bereft of any major economic statistics.