Forex Market
Technical Analysis
Broadbased (not only Eur weakness) dollar and jpy buying seen yesterday. Bond yields dropping to record lows, slumping commodities and weak equities. EURUSD now knockin on the door to a broad based support area (2005-2010 lows), EURJPY to challenge its yearly low, 97.04,
GBP/USD Analysis
Closed in NY at $1.5482, after rate was pressured to session lows of $1.5475. Rate tracked early downside pressure on EUR/USD, led by early Aussie sales, which took rate to extended lows of $1.5463 before recovering.
EUR/USD Analysis
Closed in NY at $1.23668, after rate was pressed to extended lows of $1.2361. Rate came under renewed downside pressure in early trade, the rate easing to an extended low of $1.2358, as it took its early lead from the sell off in AUD (Tr.Sec.Martin comment on the Australian deficit), but demand placed ahead of […]
AUD/USD Analysis
AUD/USD opened the Asian session around $0.9705 and has so far traded in a $0.9674/$0.9719 range. After some moderate exporter buying interest that saw the rate trade to intra-day highs of $0.9719, sellers soon appeared with the rate breaking through $0.9700 following comments by Australian Treasury Secretary Martin Parkinson on Australian deficit.
Asia today: No cure for yesterday’s EUR hangover
The hangover from another EUR slide overnight could not be cured in the Asian session, with risk currencies content to hover near yesterday’s lows. As per yesterday, any hint of a rebound/retracement found a number of willing sellers.
GBP Analysis
Opened early Europe at $1.5614, stg0.7985, GBP closed in NY at $1.5632, as rate recovered off late European lows of $1.5608. Rate managed to extend the recovery to $1.5637 into early Asia before reversing.
JPY Analysis
Opened in early Europe at Y79.45 and Y99.05, Opened in Asia at Y79.45 and gained 10 pips on headlines from BOJ’s Yamaguchi warning of further easing if EU risks materialise and BOJ’s Shirakawa warning of risks to the growth outlook.
EUR Analysis
Opened early Europe at $1.2468, EUR/USD closed in NY Tuesday at $1.2503, after seeing pressured lows in this session to $1.2461 after market reacted to a further downgrading of Spain by Egan Jones. Rate came under renewed pressure into Asia which extended the rate’s corrective pullback from the late NY recovery high of $1.2510 to […]
Behavioral Finance: Daily Forex Outlook: Eurozone is not the only risk to the UK economy
EUR USD (1.2465) Spanish bond yields are again hovering near the seven percent levels which make it difficult for the government to plan any sustainable borrowing. The Spanish plan to recapitalise Bankia through an equity-bond swap also becomes more expensive and the idea has found little resonance with the ECB.
FX Market Technical Research
EUR/USD has continued to slide and has sold off to the 1.2457 March 2009 low. Despite the fact that the RSI has not confirmed the new low, despite the 13 TD combo count and the 5th of 5th wave count, the market continues to weigh on the downside.
Technical Analysis
The dollar and the yen continue to perform in tandem. The rest (EUR, GBP, Scandies, EMs & Com’s) are paying the price. EURUSD is testing a medium-term 1.2460/50 extension ref while GBPUSD is knocking on a key 1.5603 ref – under which the yearly low would become exposed…
GBP/USD Analysis
Closed in NY at $1.5632, as rate recovered off late European lows of $1.5608. Rate managed to extend the recovery to $1.5637 into early Asia before turning lower again. Move down tracked EUR/USD slippage, which in turn was seen as a reaction to the AUD sell off following release of weak Australian retail sales data.