Forex Analysis

Eye-Opener: Rising loan demand, rate cuts and hikes, stronger GBP

Oil prices were falling again yesterday, but have not made new lows in more than a week,

The pair closed in NY Tuesday at $1.5144 after rate had extended its recovery

The pair ended the NY session at $1.1550 after registering a trading range of $1.1541 to $1.1605.

The pair opened at Y118.81 and the euro-yen at Y137.24 in Asia Wednesday,

The pair had a stronger day for the most part on the back of

The Euro chart remains ugly but perhaps the Euro is poised to see

The Swiss charts would seem to point to more gradual downside

Renewed weakness in the Yen overnight has resulted in fresh technical damage on the charts.

The Dollar generally remains in favor despite a lack of definitive upside extension on the charts.

Weaker oil, hawkish US Fed commentary and

The Pound is simply having trouble getting up and away from the January consolidation lows.

No inflation in NZ means no hikes from the RBNZ this year.