Forex Analysis
EUR Mid-day Analysis
The December Euro has kept within a fairly tight range during the overnight session, but is showing little of the strong upside momentum that drove prices up to 8-month highs late last week.
CHF Mid-day Analysis
The December Swiss is finding moderate pressure this morning, although prices remain well inside of their recent consolidation price zone for now.
JPY Mid-day Analysis
The December Yen was able to reach a new high for the move last night, but has pulled well below those early price levels and is finding mild pressure this morning.
USD Mid-day Analysis
The Dollar has regained modest upside momentum this morning, and also appears to have found near-term support around the 80.00 level as the market continues to
Will the CPI result in another round of knocking for the NOK?
Recent activity data in Norway, at least over the past 4-5 weeks, have disappointed and supported Norges Bank’sdovish policy stance,
The Global Macro Pulse
Overnight Price Action The 0.9% fall in the S&P overnight led most Asia equity markets to open weaker, but they rapidly reversed to trade up on the day.
FX Daily
Market movers today * Focus in the market will continue to be on political developments in the US although a decisive breakthrough in the political wrangling does not appear to be imminent.
USDJPY – Wave-E bull flag sporting equality between down legs
On Friday we argued in favor of a bullish falling wedge; that outlook has not changed and the momentum divergences on the hourly chart continue to be supportive.
EURUSD – a-b-c correction to 1.3462/48 and then a new high
We raised the case Friday that “waning momentum [was] threatening [the] latest 1.3573 breakout”.
EUR Mid-day Analysis
The December Euro is finding moderate support at the start of the new trading week, but may have limited upside from these current price levels given the negative tone of global risk sentiment.
CHF Mid-day Analysis
The December Swiss was able to recover a sizable portion of last Friday’s pullback, but has only lifted back towards the middle of its recent consolidation range.
JPY Mid-day Analysis
The December Yen continues to benefit from the Dollar’s distress, but was unable to climb above its late September highs as safe-haven support has been unable to