Forex Analysis
GBP/USD Analysis
The pair closed Wednesday’s NY session at $1.5676 having traded Wednesday’s session with an underlying buoyant tone,
EUR/USD Analysis
The pair closed in NY Wednesday at $1.3333 after rate had recovered off an early NY session low of $1.3266 to a high of $1.3359,
RBNZ Review – Official Cash Rate held at 2.5%
• RBNZ sees stronger house price inflation pressures and stronger domestic demand.
Tug-of-war continues: Housing vs NZD
• OCR on hold at 2.5%, as universally expected. • RBNZ sees stronger house price inflation pressures and stronger domestic demand.
Mid-Day FX Market Analysis
USD: The Dollar was able to grind out a modest rebound from overnight pressure, but still has plenty of work to do in order to recover from sizable weekly and monthly losses.
Central European Daily
Sell-off on bond markets hits forint and zloty Poland plans energy cuts Central European FX markets have not seen major fluctuations since mid-May. The Polish zloty together with the Hungarian forint follow a weakening trend,
MONTHLY OUTLOOK
Short-Run Slowdown, Better Growth Ahead For the current quarter, we estimate economic growth has slowed to 1.5 percent, but will then resume its 2-percent-plus pace that is characteristic of the past three years.
Morning FX Market Commentary
Currencies: Dollar stays under pressure as global repositioning continues Tuesday was again a volatile session on global markets. For now the unwinding of carry trades is no support for the dollar.
Eurozone industrial production expected to bounce, UK economy still accelerating, little else for markets to look to in the US today
The economic calendar remains relatively light again today. Main interest will be in Europe with publication of industrial production numbers for April.
FX Daily
Market movers today • Euro area industrial production in April is expected to surprise on the upside and provide another signal that things are getting better.
USD/JPY Analysis
The pair closed in NY Tuesday Y96.08 after rate had been pressed to lows of Y95.59 in thin liquidity trade, traders suggesting the sell off caused by Wall St negativity.