Forex Analysis
Morning FX Market Commentary
No additional losses for the dollar on soft Yellen comments EUR/USD didn’t show a clear trend yesterday. EMU Q3 GDP data didn’t support the euro.
FX viewpoint: ZAR weakness is here to stay!
We have revised our USD/ZAR forecast! We expect external imbalances, domestic uncertainties and weak global demand to gradually weaken the ZAR towards 2014-15.
FX Daily
Market movers today * The final euro inflation figure will be interesting after the flash estimate dropped to 0.7% and the ECB cut the refi rate.
GBP/USD Analysis
The pair closed in NY Thursday at $1.6063 after rate had extended its recovery rally off post UK retail sales lows of $1.5988 to $1.6101 as markets again reacted to Fed Yellen dovish comments.
EUR/USD Analysis
The pair started at $1.3461 in Asia morning and drifted down to session low of $1.3446 before fresh buying interest in euro-yen dragged the euro higher.
AUD/USD Analysis
Aussie started the session in a consolidating trade just above $0.9300 after overnight gains post-Yellen’s Senate Banking Committee hearing, trading roughly $0.9310/20.
USD/JPY Analysis
JPY started at Y100.02 and euro-yen at Y134.61 in Asia morning after Yellen’s testimony before the Senate Banking Committee.
Economy Watch – New Zealand At A Glance
The world outlook remains uncertain but its prospects remain sufficiently strong to add support to a New Zealand expansion which is both broadening and gaining in momentum.
USDJPY – new support zone is 99.80/56; breakout underway
A Triangle breakout is taking place bolstering the call for a thrust higher to 104/106 in the coming months. The next pivot resistance is 100.61 and believe it or
EUR Mid-day Analysis
Sluggish economic data has brought a dose of reality back to the Euro this morning as prices have takena large step back from the key 135.00 level.
CHF Mid-day Analysis
Weak inflation levels have come back to haunt the Swiss Franc once again, as the weakest Swiss yearon-year PPI reading since August of 2012 is weighing heavily on the market this morning.
JPY Mid-day Analysis
While initially rejecting a breakthrough of the key 100.00 level early this morning, the Yen remains squarelyon the defensive heading into this morning’s trading.