Forex Analysis
EURJPY likely to commit one way or another soon
The EURJPY rally has begun stalling out recently as the Euro has come under some pressure on the view that the ECB will look to ease again soon.
Mid-Day FX Market Analysis
USD: The Dollar has fallen back from last week’s spike high because of a minor bounce in the Yen and perhaps because of a slight increase in global economic optimism,
CFTC: Dollar long jumps the most since March -AUD and EUR sold
Hedge funds reacted to the positive sentiment towards the dollar during the week ending May 14,
US consumer confidence bounces to high since 2007…
US economic news-flow may have become mixed over the past couple of months, but by no means has it become uniformly softer following the Fiscal Cliff and Sequester.
USD/JPY Analysis
The cross pushed up to Y103.32 Friday before closing the week around Y103.20. Rate opened slightly lower at Y103.12 and
GBP/USD Analysis
The pair closed in NY Friday at $1.5169, just off session lows of $1.5158. Recovery extended into Asia, the rate able to edge to
EUR/USD Analysis
The pair closed NY Friday at $1.2839 after recovering off a session low of $1.2797. Rate was marked lower into opening Asian trade,
NZD/USD Outlook: Negative Near Term
The US dollar is strengthening, causing NZD/USD to fall. The US dollar has been aggressively bought versus all major currencies since the beginning of May.
Asian FX Update
USD RALLY AGAINST ASIA STILL IN PLAY • The May rally in the USD has hampered most of Asia, save for CNY and MYR.
Australian Markets Weekly
– AUD breaks parity, the range, and a slew of important technical levels – largely on broad-based USD demand.
Weekly Economic & Financial Commentary
Eurozone Remains in Recession – Real GDP in the Eurozone fell for the sixth consecutive quarter in Q1-2013, and some large economies, notably, Spain and Italy, continue to contract at an alarming rate.
USDJPY – thru pivot & l/t channel resist. at ~102.85 >>> 104.40
As we mentioned the break of 101.75 long term resistance is significant and further supports the bullish trend in $JPY.