Forex Analysis

RBA Board Minutes – September 2013

* The RBA have maintained their easing bias. Further changes to the cash rate are data and AUD dependent.

LATAM Daily FX Update

The withdrawal of Fed Chair candidate Lawrence Summers of his candidacy for Fed leadership has triggered a rally in risk assets,

USDJPY – head & shoulders top supports call for move to <98

$JPY continues to work towards our target zone below 98.00 as it completes wave-E of a 4-month triangle.

EURUSD – wave-(3) higher underway towards 1.3473…1.3610

The Euro is back above the long-term downtrend lines and we expect a 3rd attempt at the 1.34 level to lead to a successful breakout.

EUR Mid-day Analysis

The December Euro was one of the earliest and strongest beneficiaries of the Summers withdrawal news last night,

CHF Mid-day Analysis

The December Swiss has been able to post moderate gains this morning, but is losing further ground to the Euro and

JPY Mid-day Analysis

The December Yen is holding up fairly well in spite of today’s “risk on” market environment, and continues to build upon last week’s reversal from 7-week lows.

USD Mid-day Analysis

The Dollar made a sizable gap-lower opening last night, and while bouncing off of fresh 31/2-week low it remains on the defensive coming into this morning’s trading.

Diplomatic solution of Syrian crisis helps CEE currencies Polish pension funds hit by planned new restrictions On Friday, CEE market sentiment was positive mainly owing to progressing talks between Russia and

The Global Macro Pulse

Overnight Price Action The USD weakened across the board in response to Larry Summers’ announcement that he has withdrawn from being a candidate for Fed chairman.

Buy EUR forward volatility into FOMC

Over a year has passed since QE3 started and EUR/USD is still stuck on 1.30. The remarkably tight post-QE3 1.27-1.37 range has forced down both implied and realized volatility.

Morning FX Market Commentary

Dollar hit as Larry Summers withdraws from race for Fed president On Friday, a set of poor US eco data had only a limited impact on EUR/USD.