Forex Analysis

USD/JPY Analysis

JPY today fell to a 2-month low against the US dollar, as last night’s FOMC minutes said QE tapering was likely in the coming months on better data.

FOMC minutes: Fed wants to taper but need more data

The tone of the October FOMC minutes is in line with Bernanke’s comments yesterday night and to the hawkish side of market expectations.

USDJPY – consolidating gains from early Nov; 99.80/60 support

From a daily perspective the breakout above the triangle downtrend is still intact and the old resistance level now offers support at 99.63.

EURUSD – failed attempt at 1.3548 could signal completed flag

The bear flag rally continues from the 1.33 lows and last night the break above 1.3548 resistance failed. Still a lower low is needed to

EUR Mid-day Analysis

A huge early-evening rally in the wake of the Bernanke comments drove the Euro up to a new 2 1/2 weekhigh, but there has been a significant change in tone as prices have slumped all

JPY Mid-day Analysis

Short-covering has helped the Yen climb back above the 100.00 level as sluggish Japanese equities, newsthat nation’s pension reforms may take years to implement and

USD Mid-day Analysis

After shaking off early pressure, the Dollar may be waiting on today’s critical events before makingfurther inroads into positive territory.

Czech koruna weakened on central banker’s comments Poland to reshuffle the government A few words of a CNB board member Lubomír Lízal were enough to push the Czech koruna to a 4-1/2 year low yesterday.

Morning FX Market Commentary

No clear trends, but euro remains well bid. There was again no high profile story to guide trading in the major currency cross rates.

Macro Viewpoint: The downside of the weaker JPY

Japanese exporters have a reason to cheer in October. A gradual pick up in global de-mand has helped Japanese exports growing by 18.6% y/y,

The Global Macro Pulse

Overnight Price Action S&P futures are up marginally after a 0.2% fall in the S&P 500 overnight while the rise in the 10yr Treasury yield that began in New York extended slightly in Asia to 2.7149%.

FX Daily

Market movers today * In the data calendar focus will mainly be on a number of US data for October.