Forex Analysis
NZD/AUD: Staying Long
● The interest rate outlook has become even more important in driving NZD/AUD. The correlation with interest rate differentials is currently 97%.
ECB Preview: Clear easing bias likely to remain in place
No new actions, but dovish words There is no immediate pressure for the ECB to act at this week’s meeting and hence we expect a fairly calm press conference with no revolutions.
The Global Macro Pulse
The stronger-than-expected China PMI out yesterday and perceived lower risk of significant US military operations in Syria has helped push S&P 500 futures up 0.7%,
Morning FX Market Commentary
Dollar and sterling remain well-bid On Friday, the dollar extended its rebound against the euro even as US eco data were mixed.
FX Daily
Market movers today ● The conflict in Syria continues to be the main focus but military action looks set to be delayed until 9 September.
Weekly Forex & Interest Rate Outlook
NZD/USD Outlook: Down this week NZD/USD remains hostage to the fortunes of the US dollar. NZD/USD remains poised to test the bottom of a two-month range at 0.7685.
Australian Markets Weekly
AUD Range 0.92-0.88, break risk ● The AUD was stable over the month. But within a 4% range. Moves were driven primarily by external factors
Weekly Commentary
The inflation debate continues Last week’s developments did little to change our thinking on the New Zealand economy.
EURUSD – 1.3207 support, 37d cycle & RSI suggest bounce
The bullish coil on the hourly chart broke to the downside unexpectedly. Now the Euro has bounced mildly above critical support at 1.3207.
EUR Mid-day Analysis
The September Euro avoided posting a new low for the move this morning, but is making little headway with recovering from yesterday’s sharp downdraft early in today’s session.
JPY Mid-day Analysis
The September Yen is finding little upside momentum early this morning, as last night’s broad set of Japanese economic reading produced mixed results.
CHF Mid-day Analysis
The September Swiss has put together a modest gain this morning, but remains firmly rooted to the bottom end of yesterday’s severe downdraft.