Forex Market
EUR/USD Analysis
Closed in NY Tuesday at $1.2495 after recovering from a session low $1.2442, pressured on comments suggesting German Chancellor Merkel had ruled out joint euro bond issuance for the foreseeable future.
AUD/USD Analysis
AUD/USD opened the Asian session at $1.0060 Wednesday and has spent most of the session in a narrow trading range. Prices initially slipped to session lows of $1.0041 after some Tokyo named accounts were touted to be good sellers of AUD/JPY after Asian equity markets were subject to some selling pressure early on in the […]
USD/JPY Analysis
USD/JPY Y79.35-Y79.55, EUR/JPY Y99.08-Y99.42, a lackluster session for the yen against the majors Wednesday, as forex markets sit rangebound ahead of the EU leaders summit set for later in the week.
Asia today: Risk currencies a tad higher in a slow Asian session
Another quiet, tight-ranged Asian session as the EU summit looms ever closer. The start of the session saw the only data point of the day – New Zealand’s trade data for May.
Asia FX Rundown
Merkel strong statement against Eurobonds yesterday damaged Spanish+Italian bonds a lot but broader risk sentiment survived largely unchanged.
USD/JPY Analysis
The pair is likely to trade in a tight range today in Asia, with investors waiting for a summit meeting by European leaders on June 28 and 29 amid fading expectations that policymakers will hammer out fresh measures to deal with the region’s debt crisis.
Asian Currencies Technicals
AUD/USD: $1.0140 the level to watch topside today. Retests of the 21 day MA and then the June 8 lows beneath currently remain favoured until the AUD can manage to close back above the $1.0140 spike low from June 20 that is expected to cap on bounces.
Summit waiting game continues – market oddly complacent
The EU summit is up later this week, and French and peripheral EU spreads moved wider on the day – but the market is shrugging its shoulders so far in a show of surprising complacency.
Currency Weekly: Fight bias, fight prejudice: buy the yen
The consensus is constantly looking for USD-JPY to rise. This has fostered a prejudice that interprets most breaking Japanese news in terms of potential adverse implications for the JPY.
GBP Analysis
Opened early Europe at $1.5587, stg0.8029, the rate closed Monday in NY at $1.5565, cable bounced to $1.5580, then settled between $1.5568/88 for the remainder of the session.
FX G10 and EM Morning Trader Views
G10 EUR – While we remain soft below the post Greek election lows at 1.2520 the follow through is currently very lacklustre with the market unwilling to aggress too far ahead of the European meetings Thursday/Friday
JPY Analysis
Opened in early Europe at Y79.65 and Y99.69, JPY was higher against both the EUR and the USD Tuesday, as quarter-end repatriation flows in light volumes weighed on the majors.