Forex Analysis
USDJPY – Wave-C of bull triangle completing, awaiting rally
The larger bull triangle idea is still intact suggesting that $JPY is completing wave-C ahead of still further up and down trade.
EURUSD – small rising wedge suggests n/t pullback to 1.3266/33
The broken hourly uptrend along with 2 long-term downtrends (one from February and one from 2011) are repelling prices near the 1.3300/3330 zone.
CHF Mid-day Analysis
The September Swiss recovered from moderate pressure this morning, and along with the Euro has been able to consolidate recent gains early this week.
EUR Mid-day Analysis
The September Euro found moderate pressure this morning, but bounced back from early losses and remains fairly well supported near the upper portion of the recent trading range.
JPY Mid-day Analysis
The September Yen was unable to sustain an overnight move to a new 7-week high, but remains very well supported going into this morning’s trading.
USD Mid-day Analysis
The Dollar was unable to hold onto mild support this morning, and continues to have plenty of work ahead of it in order to regain the
Bank of England August Inflation Report
New 7% unemployment threshold indicates current monetary policy stance will remain until Q3 2016.
The Global Macro Pulse
USDJPY continued to fall, testing a low of 97.09 today and driving cross JPY through technical levels.
Carney Guidance is a “sell the fact”
There are two questions on today’s “guidance” announcement from the Bank of England. First, does Mr. Carney deliver? Second, does the market believe him?
Any USD dip is likely to be temporary
Payrolls surprise stalls the USD rally…for now US payrolls have done it again, surprising the market in way that changes the pricing of volatility, this time downward.
FX Daily
Market movers today • We expect German industrial production to decline 0.2% m/m in June as manufacturing PMI decreased in June and factory orders were down 0.5% m/m in May.
July: Gloom Evaporates
• Financial market sentiment recovered strongly as central banks around the world renewed their commitment to accommodative monetary policy.