Forex Market
FX Market Technical Research
EUR/USD: Daily Studies Stalling The euro sees the recent positive daily studies stalling ahead of overbought territory as the market fails to extend the $1.2748. Bulls remain focused on extending that high past the $1.2786 Fibonacci level, while bears want to turn attention back to the $1.2533 21-day moving average. Initial support comes from the […]
GBP/USD Analysis
Closed in NY at $1.5726, after its late recovery extended to a high of $1.5757 (76.4% $1.5802-1.5615). Rate eased to $1.5718 ahead of the session close.
EUR/USD Analysis
Closed in NY at $1.2685 after rate’s late rally had extended to a high of $1.2730 as market reacted to a press report suggesting that Germany had agreed to the Eurozone bailout fund buying debt.
AUD/USD Analysis
AUD/USD opened in Asia Wednesday around $1.0189 and has been seen in a moderate range of $1.0167/93 so far this morning, with the pair currently trading $1.0181 down 7 pips from the NY close.
USD/JPY Analysis
USD/JPY was trading just above session lows in late Tokyo trade Wednesday, as market players await the outcome of the Fed’s FOMC. With markets expecting a further easing from the Fed, possibly in the form of an extended “Twist” operation, the pair eased through the Tokyo session, also weighed by a lack of specific comments […]
UBS Morning Adviser Asia
Risk Assets Have Their Day The dollar fell across the board as market expectations continue to build that Wednesday’s FOMC meeting may produce yet another round of balance sheet expansion.
FX Market Summary
The euro rebounded as an ongoing summit of world leaders drove rising expectations of more coordinated efforts to provide support for Europe’s ailing economies.
EUR Analysis
Opened at $1.2622 after $1.2570/1.2629 overnight range, Euro had been capped ahead of the US session as chatter cited Dutch name sales offsetting demand from model and macro names, traders describing euro short-covering ahead of the Wednesday FOMC rate announcement.
JPY Analysis
Opened at Y78.90/99.59 after Y78.85/11 and Y99.19/67 overnight ranges, USD/JPY found a base at Y78.85 ahead of the US session and rested on that level in early dealings before a better tone of euro spilled over into EUR/JPY as risk-appetites improved against a backdrop of firmer stocks.
Will Bernanke deliver on this market’s expectations?
This market is ready to twist in shout ahead of tomorrow’s FOMC meeting and anticipation of the extension of the Fed’s easing. Tomorrow may set the tone for some time to come.
Behavioral Finance: Daily Forex Outlook: The eurobills as precursor to eurobonds
EUR USD (1.2605) The market’s positive response to the Greek election result was short-lived. Even as Greek political parties send signals that they would like to renegotiate their fiscal targets, the market focus has shifted to Spanish banks whose non-performing loan ratio continues to deteriorate.
Technical Analysis (Short Cycle Report): Hope is fading fast
Yet another reversal day on supposed “good news” is more technical analysis evidence that hope is fading and the “risk off” wave is about to accelerate. Bearish engulfing / outside days in EUR-USD, Euro Stoxx and the 10-year Bund yield suggest imminent moves down. Gold is at an important pivot point.