Forex Analysis
GBP/USD Analysis
The pair closed in NY Thursday at $1.5228 after rate had recovered off a pullback low of $1.5183 having seen react highs of $1.5242 earlier in the session
USD/JPY Analysis
The pair hit selling pressure from the start of the day, with most players citing a likely victory for PM Abe’s ruling coalition during Sunday’s upper house elections for the move.
Ben Bernanke Adds More Balm to the Markets
The recent positive tone in equities continued overnight with stock markets on both sides of the Atlantic posting good gains.
Mid-day FX Market Analysis
USD: The Dollar has been able to grind out a modest gain this morning, but is having trouble maintaining strong upside momentum.
Central European Daily
Czech political tug-of-war has not harmed koruna Polish industrial output above expectations The Czech koruna still ignores domestic political situation.
Morning FX Market Commentary
Sterling jumps as BoE hints at no additional bond purchases The focus of the currency markets was on Bernanke, but the moves were limited.
Fed Chairman Bernanke re-iterates reasonably cautious message
Fed Chairman Bernanke’s semi-annual testimony included fairly explicit comments on QE tapering. The FOMC may taper QE in 2013 and halt it around mid-2014.
FX Daily
Central bank communication is currently the main market driver. Fed chairman Bernanke will repeat yesterday’s testimony – this time in front of the Senate.
USD/JPY Analysis
The pair received an early lift from a so-called “black-box” fund at the start of the Asian session, pushing dollar-yen down after its Y99.60 NY close.
GBP/USD Analysis
The pair closed in NY Wednesday at $1.5218 having recovered off a corrective pullback low of $1.5154 (off BOE MPC Minutes inspired spike gains of $1.5268) to $1.5244
EUR/USD Analysis
The pair opened with a slight dip to $1.3112 compared with the NY close of $1.3125 before the same account that had sold dollar-yen early this morning bought euro-dollar up.
CPI Preview – QII 2013
There are some very early indications of a rethink on the outlook for inflation. For the first time in quite a while there is some discussion of upside risks.