Forex Market
Technical Analysis
EURUSD slowly edging higher in what seems to be a corrective move, CABLE still looking offered in the high 1.55’s, EUR/scandies pushing on the low side but sustainability breaking lower should be poor, we think,
GBP/USD Analysis
Closed in NY at $1.5511 after rate was pressed to intraday lows of $1.5504 as EUR/GBP extended its recovery to stg0.8107 from Wednesday’s pullback lows of stg0.8012.
EUR/USD Analysis
Closed in NY at $1.2565 off late extended recovery highs of $1.2611, with rate already recovering from a pullback low of $1.2552 before early demand in Asia lifted the rate back to $1.2578.
AUD/USD Analysis
AUD/USD opened the Asian session on Thursday at $0.9931 and has been seen in a tight range of $0.9930/66 so far this morning. Trading has been light with Asian markets in consolidation mode ahead of this weekend’s Greek elections.
USD/JPY Analysis
USD/JPY was trading modestly lower in Asian trade, although off the lows seen early in the session. The pair rallied into the Asian open, helped by fresh safe-haven flows as Moody’s became the latest ratings agency to downgrade Spain.
EUR/USD Analysis
Opened at $1.2533 after $1.2475/1.2553 overnight range, Euro held a narrow range ahead of the US session but found a base on dips below $1.2530 that allowed an early, brief return to $1.2550.
USD/JPY Analysis
The pair is likely to trade in a wide range today in Asia, with the euro continuing to take center stage ahead of the June 17 election in Greece.
Behavioral Finance: Daily Forex Outlook: The German bund as a proxy eurobond
EUR USD (1.2485) Although yesterday saw Spanish bond yields increase to an unsettling 6.8 percent, it was the moderate increase in German bund yields that garnered attention.
Behavioral Finance: Daily Forex Outlook: Central banks await impulse from policy-makers
EUR USD (1.2525) During his testimony before the Congress Ben Bernanke stopped short of signalling an outright QE3, although he indicated Fed’s intention to act if eurozone deteriorates. In a similar fashion Mario Draghi too refrained from implementing a cut.
Currency Outlook: Euro fallout: GBP beware schadenfreude
We believe Greece will remain in the euro, but analyse the situation using a simple decision tree framework to look at other possible scenarios. We would caution that GBP may not be the shelter from the euro storm that many suggest. There are grounds for GBP’s resilience, but these could vanish were the euro situation […]
FX Market Technical Research
EUR/USD has now hit our upside target at 1.2625, the January low. This has stalled the currency pair. A minor retracement back towards the 1.2500/1.2450 area should now be seen before the current retracement higher continues.
Technical Analysis
Spain’s fall from grace spurs another bear race… EUR/USD Correction target respected… EUR/SEK Failed upside move rouse bears… USD/SEK Enjoying “Ichimoku” support… EUR/NOK Another topside failure… EUR/PLN Deep correctional setback.