Forex Market
Asia today: Aus employment hits the skids; BOJ eases further
AUD and JPY both fell against USD in the Asian session Thursday after surprises from their respective economies. In Australia’s case it was a large miss on employment figures, while for Japan it was an increase to its short-term asset purchase programme.
Asian Currencies Technicals
AUD/USD: July 5 highs in focus. The pair has popped above the 200 day MA following the bounce from ahead of pivotal support at $1.0158.
Sidewinding market continues into FOMC minutes
The market shows an odd combination of relative complacency in risk assets while bonds continue to suggest weak growth prospects. Fairly dovish FOMC minutes likely priced in.
GBP Analysis
Opened early Europe at $1.5520, stg0.7898, GBP closed in NY at $1.5515 after marking lows at $1.5478 and recovering to $1.5520/25. Rate touched an early low of $1.5511 before reserve manager demand lifted the rate on to $1.5530.
EUR Analysis
Opened early Europe at $1.2258, EUR/USD closed in NY at $1.2253 after seeing lows in this session of $1.2235. Rate marked an early low of $1.2246 in Asia before a reserve manager emerged as an early buyer (in cable as well) lifting the rate to an initial high of $1.2255 before fund demand extended move […]
JPY Analysis
Opened in early Europe at Y79.34 and Y97.33, opened in Asia at Y79.40 and slipped on mild risk aversion flushing stops to Y79.24, rate picked up after the Tokyo fix to Y79.35 and settled in a tight 10 pip range.
FX G10 and EM Morning Trader Views
G10 EUR – Mkt has been on the defensive this week worried about being caught on a squeeze that has never really come with 1.2330/40 providing stiff resistance –
Technical Analysis
Small movements overnight but S&P took out the first support (in the support cluster), CRB added more confidence to a downside turn in commodities hence AUD with its three wave hourly pattern looks like a sell candidate.
FX Market Technical Research
EUR/USD: Studies Remain Weak. The euro is still under pressure amid weak daily studies but trade is back within the falling Bollinger band of $1.2225, allowing more room for bears to extend the $1.2235 low.
GBP/USD Analysis
Closed in NY at $1.5515 after marking lows at $1.5478 and recovering to $1.5520/25. Rate touched an early low of $1.5511 before reserve manager demand lifted the rate on to $1.5530, the demand overcoming reported US name offers between $1.5517/20.
EUR/USD Analysis
Closed in NY at $1.2253 after seeing lows in this session of $1.2235. Rate marked an early low of $1.2246 in Asia before a reserve manager emerged as an early buyer (in cable as well) lifting the rate to an initial high of $1.2255 before fund demand added to the upside pressure that took rate […]
Asia today: Currencies range at lower levels after German news
Currencies were steady at lower levels in the Asian session Wednesday, though a slight uptick in risk appetite was felt towards lunchtime. In EURUSD, the early attempt at a rally was rebuffed at the 1.2330 level in the US session after the German Constitutional Court delayed its decision on whether ratification of the new ESM […]