Forex Market
EUR/USD Analysis
Closed in NY Tuesday at $1.2503, after seeing pressured lows in this session of $1.2461 after market reacted to a further downgrading of Spain by Egan Jones (or at least that was attributed as the trigger).
AUD/USD Analysis
AUD/USD opened in Asia around $0.9847 and has been observed in a range of $0.9775/$0.9856 so far. The rate ground off early to levels of around $0.9811 pressured by risk aversion and evaporating hopes for a Chinese stimulus package.
Asia today: AUD weakens after soft headline retail sales numbers
AUDUSD traded on the south side of 0.98 following a weak headline April Oz retail sales number that suggested the Ozzie consumer is becoming more cautious in light of the uncertain global situation.
Behavioral Finance: Daily Forex Outlook: Euro buoyed by profit-taking
EUR USD (1.2535) Even as the IMF’s chief reiterated the significance of tax collection and tourist revenues for the Greek economy, it is any hint at the colour of the likely coalition after next month’s election that causes markets to pay attention.
GBP Analysis
Opened early Europe at $1.5673, stg0.7997, GBP closed Monday’s session at $1.5678, just off lows of $1.5675. Trade through Asia tracked EUR/USD, as the cross was contained within a tight range of stg0.79895/0.8000, with an early push up to session highs at $1.5683 reversing, then moving through Monday’s base before closing the gap left by […]
EUR Analysis
Opened early Europe at $1.2534, EUR/USD closed Monday’s North American session at $1.2542, off pullback lows of $1.2525, after rate had been pressed back from early European highs of $1.2625 as early risk-on tone was reversed on widening Eurozone peripheral bond spreads.
JPY Analysis
Opened in early Europe at Y79.55 and Y99.71, opened in Asia around Y79.55 and lifted to Y79.64 ahead of the Tokyo fix, following a slight increase to 4.6% in the April unemployment rate. Exporter supply capped and the rate fell back on usual month end sales flow, extending losses to Y79.42 on cross yen supply.
FX Market Technical Research
EUR/USD saw a very tepid rebound on Monday. The new low of 1.2495 charted last week has not been confirmed by the daily RSI and this suggests caution here and some near term consolidation.
GBP/USD Analysis
Closed Monday’s session at $1.5678, just off lows of $1.5675. Trade through Asia tracked EUR/USD, as the cross was contained within a tight range of stg0.79895/0.8000, with an early push up to session highs at $1.5683 reversing, the move down moving through Monday’s base before closing the gap left by Friday’s NY close at $1.5660 […]
Technical Analysis
Europhobia prevails… EUR/USD Sellers responded again… EUR/JPY Soon at a fresh short-term low… EUR/GBP Sellers retain an upper hand… EUR/SEK Still respecting support… USD/SEK Bullish triangle (or flag)… EUR/NOK Support likely at range floor.
EUR/USD Analysis
Closed Monday’s North American session at $1.2542, off pullback lows of $1.2525, after rate had been pressed back from early European highs of $1.2625 as early risk on tone was reversed on widening Eurozone peripheral bond spreads.
AUD/USD Analysis
AUD/USD opened in Asian around $0.9855 and has been seen in a range of $0.9802/58 so far. The rate was subject to some early selling pressure, thought to be from a custody bank, with a sharp move lower from $0.9845 down to session lows of $0.9802 observed in the early part of Asian traded hours.