Forex Market
FX G10 and EM Morning Trader Views
G10 EUR – So we open the week in asia with a nice push to a new years low at 1.2225, however we bounce right back as mkt takes some profit on this 3% move into the EU finance ministers meeting later today – That said we still only have managed a move back to […]
Decision time for AUDUSD
The recent AUDUSD rally was of sufficient magnitude to throw the bears off course for a while. But the action late last week puts the short term bullish case in doubt as this looks like a pivotal week.
Technical Analysis
EUR weakness continues and EUR/USD posted the biggest weekly loser since Sept 2011, falling straight through its correction range, Spanish 10y Bono shortly violated its 7.02% key support = confirmation of new trend highs,
FX Market Technical Research
EUR/USD: Slips Out of Bollinger Band. The EURO pushes outside of the daily Bollinger band, which is now at $1.2305, suggesting the market has declined too fast in the spike lower to $1.2235.
EUR/USD Analysis
Closed in NY at $1.2285, off traded lows of $1.2260, with rate under pressure into early Asian trade as traders marked the rate lower on reaction to weaker than expected Chinese inflation data and today’s Eurogroup expectations dampened by Finland’s comments Friday highlighting the ongoing political divide.
USD/JPY Analysis
USD/JPY was tied to a 30-pip range, although sitting close to late NYC closing levels ahead of the European open. The pair was last at Y79.44, having traded a Y79.44 to Y79.64 range.
Asia today: Inflation benign in China; A cue for more easing?
With the aftermath of Friday’s US non-farm payroll report resulting in a definite risk-off sentiment, risk currencies took another dip lower at the start of trading in Asia, but failed to dramatically follow through.
Asian Currencies Technicals
AUD/USD: Starting the week looking heavy. The AUD risks taking out the $1.0158 support that we noted as pivotal last week with a break lower seeing focus shift to tests of the 21 day lower Bollinger band and then the 2012 lows beneath.
NFP: is “slightly bad” worse than “really bad”?
UK (dis) inflation UK core PPI Output inflation matched its lowest month-on-month reading for the last 12 years or more in June, underlining the deflation threat as promoted by the BoE as it decided to increase its asset purchase target this week and no doubt aided somewhat by a stronger sterling vs. the euro over […]
Currency Weekly : From the EUR abyss to the USD cliff
Central banks are easing again, fostering a “risk on” move even though the global economy is lurching lower. This risk rally comes with contradictions for the USD, because the upswing in financial assets is USD bearish while the worsening economy is USD bullish.
Behavioral Finance: Daily Forex Outlook: Self-defeating policy change
EUR USD (1.2380) Yesterday’s ECB rate decision kick-started the euro’s latest sell-off. Although the policy shifts were small, respectively, 25bp off the main policy rate and the deposit rate, they nonetheless overstepped market expectations; the average forecasts were for 10bp or 15bp changes.
GBP Analysis
Opened early Europe at $1.5527, stg0.7973, GBP closed in NY at $1.5524 after rate had been pressed to lows of $1.5500 during Thursday’s session following BOE QE expansion, but more effect seen from the ECB cutting rates by 25bps, as well as growth concerns voiced by ECB Draghi.