Forex Analysis

GBP/USD Analysis

The pair closed Wednesday’s NY session at $1.5128 after seeing intra day recovery highs of $1.5147, dipping to $1.5099 before recovering through the NY afternoon into the close.

EUR/USD Analysis

The pair closed in NY Wednesday at $1.2938 after rate had seen intraday recovery highs of $1.2978, easing itself back to $1.2919 in NY before edging higher into the close.

RBNZ Stuck in a Vortex

• Prudential tightening very close • As housing goes nuts • Wheeler talking the currency lower

AUDUSD – the inevitable correction has begun

The Australian dollar is perhaps the most extremely overvalued currency of all the majors. Measured on relative prices (purchasing power parity or PPP),

Mid-Day FX Market Analysis

USD: The Dollar was unable to follow-through on overnight strength this morning, and has drifted back into negative territory and

Slight upward revision of Polish GDP growth supports 25 bps rate cut in June Hungary cut interest rates to new all-time low On Tuesday, the Hungarian forint outperformed its peers and hit the more than five-month high in intraday trading.

Riksbank has to consider a 50bp cut

• Negative on risk sentiment • Still bullish on EUR/SEK • We remain bearish on EUR/USD, but note rising risks

The Global Macro Pulse

Overnight Price Action Dollar strength has been the main theme in Asian trading. Equity markets are up almost across the board following the 0.6% rise in the S&P,

Morning FX Market Commentary

Currencies: Dollar jumps on higher US bond yields A strong US consumer confidence report rekindled market speculation that the Fed might reduce policy stimulation in a not that distant future.

Favourable US economic news still propelling markets higher, Eurozone credit still subdued

The European morning was very quiet in terms of news-flow but markets generally rallied irrespective.

USD/JPY Analysis

The pair closed in NY Tuesday at Y102.33, after rate had seen extended recovery highs of Y102.50 post US consumer confidence data,

FX Daily

Market movers today • We expect that German inflation has remained subdued in May. Core inflation is running at a very low level and