Forex Market
EUR Analysis
Opened early Europe at $1.2380, EUR/USD closed in NY Thursday at $1.2393 after rate was pressed to extended lows of $1.23639 after the ECB cut rates by 25bps, the deposit rate cut to 0.0%, as well as ECB Draghi’s negative growth outlook.
JPY Analysis
Opened in early Europe at Y79.90 and Y98.95, opened in Asia at Y79.90 and ground higher to Y80.02 ahead of the Tokyo fix, before easing back to settle in a tight Y79.85 – Y80.02 range.
USDJPY Head and Shoulders and NFP
Another look at the USDJPY head and shoulders as we head into US employment data today. Trying to game the reactions is difficult in many USD pairs. It’s soon time for USDJPY to pick a direction.
Daily FX Technical Strategy: Spotlight stays on the euro
The release of US non-farm payrolls this afternoon is likely to be the primary focus of the FX markets today but it is the weakness of the euro that continues to hold our attention.
Technical Analysis
Most trends now back on track after the prolonged corrections triggered by the EU summit last Friday. Spain (Italy) made a impressive return into the limelight (sharply falling equites, zooming bond yield (net up 56 bps in two days), widening spreads)).
FX Market Technical Research
EUR/USD: Bears Focus on June Low. The EUR pushes lower with bears now focused on the 1 June low of $1.2288. Potentially slowing losses, the Bollinger band meets the $1.2364 hourly low but bulls really need to recover the 21-DMA up at $1.2546 to re-establish themselves.
FX G10 and EM Morning Trader Views
G10 EUR – Have to say surprised by the follow through to the downside yesterday – we never looked back from the rate change announcement taking out the support at 1.2450/1.2410 – and very little retracement back above that 1.2410 support lvl since – we await payrols today but i think market again looking for […]
GBP/USD Analysis
Closed in NY at $1.5524 after rate had been pressed to lows of $1.5500 during Thursday’s session following the BOE expanding QE by stg50bln but more effect seen from the ECB cutting rates by 25bps as well as growth concerns voiced by ECB Draghi.
EUR/USD Analysis
Closed in NY Thursday at $1.2393 after rate was pressed to extended lows of $1.23639 after the ECB cut rates by 25bps, the deposit rate cut to 0.0%, as well as ECB Draghi’s negative growth outlook.
Asia today: It’s wait-and-see for the US non-farm payroll report
Asia was on Non-farm payroll alert Friday with activity confining currency pairs to tight ranges during the session, though with a slight risk-off bias.
Asian Currencies Technicals
AUD/USD: Struggles to hold above $1.0300. The AUD continues to struggle to hold above the $1.0300 level and a close above is needed to retain the overall focus on tests of the April monthly highs.
USD/CAD Analysis
Like its commodity cousin, the AUD, the loonie is also reasonably buoyant on the day, despite overall dollar strength. Dollar-Canada holds at C$1.0131, a bit below its 55-day moving average, at C$1.0140 Thursday.