Forex Analysis
EURUSD – neckline/pivot support in play at 1.2787/2746/2662
Another small consolidation in what has been an orderly decline. Below the 1.2845 level opens up a major set of targets/support starting with the head & shoulders neckline at 1.2787.
US Morning Update
Major overnight headlines: • ECB is “assessing the readiness” of at least one major EMU bank for a negative deposit rate, according to market chatter
Daily FX Update
A quiet Friday session in Asia and Europe for the major, conceals significant downward pressure on the commodity currencies,
Mid-Day FX Market Analysis
USD: The Dollar continues to build upon yesterday afternoon’s turnaround, and is now back within striking distance of reaching new high ground by the close of this week’s trading.
Central European Daily
Hungarian forint at 3-months high… …while the zloty and the koruna remain under pressure Hungarian forint extended its gains after a favourable 2013Q1 GDP result reported last Wednesday.
Morning FX Market Commentary
On Thursday, the recent EUR/USD decline slowed. Wednesday’s correction low was left intact. In the afternoon,
Economics: Perspective
– The Government released the 2013/14 Federal Budget last Tuesday. It projected the underlying Budget deficit for 2013/14 at $18.0bn (1.1 % of GDP),
USD/JPY Analysis
The cross closed in NY Thursday at Y102.23 after rate had corrected off an intraday high of Y102.68 to Y101.83 before recovering into the close.
GBP/USD Analysis
The pair closed in NY Thursday at $1.5268 after rate had performed a decent recovery off intraday lows of $1.5197 to a NY high of $1.5322,
EUR/USD Analysis
The pair closed Thursday’s NY session at $1.2881 with early trade into Asia contained within a tight $1.2880/90 range before the sell off in the Aussie and Kiwi weighed and
US Morning Update
Major overnight headlines: • Japanese buying of foreign bonds in longest stretch since November 30th, Bloomberg says
GBPUSD – flag/channel broken, next targets are 1.5153,5027
The bear flag/channel in Sterling was broken as expected as was an old support level at 1.5269. Now that the correction to key resistance levels is complete and