Forex Market
Asia Today: Was that it? A 12-hour EURUSD retracement?
After a relatively calm overnight session due to the US holiday, Asia opened today’s session with a slew of Japanese data. Japan’s unemployment rate nudged up to 4.6 percent from 4.5 percent previously (and expected) in April and was the first increase in 3 months but there was some welcome news as the job-to-applicant ratio […]
FX CFTC: Flight to dollars (and JPY) intensifies
The weekly collection of data from the CFTC covering the week ending May 22 showed a huge increase in the net dollar long postion as all of the eight IMM currency futures were sold apart from the JPY.
GBP Analysis
Opened early Europe at $1.5702, stg0.8019, GBP closed in NY Friday at $1.5660, as rate recovered off traded lows of $1.5630. Rate was marked higher into early Asia on weekend press reports which prompted a move back into risk.
JPY Analysis
Opened in early Europe at Y79.37 and Y100.01, opened in Asia around Y79.55 and nudged higher in thin trade before running into corporate/exporter sales ahead of the BOJ minutes. USD slipped to Y79.40 on reaction to expected release where the BOJ said there would be additional easing, but warned they are not monetising debt.
EUR Analysis
Opened early Europe at $1.2592, EUR/USD closed in NY Friday at $1.2516, having seen lows in this session of $1.2495 before bouncing after taking out option barrier interest at $1.2500.
Daily FX Technical Strategy: Fear fatigue
Memorial Day in the US should keep trading subdued across markets today, but against this backdrop the outlook for commodity related currencies appears to be improving. USD/BRL, which was at the forefront of the recent risk rout, encountered profit taking last week; the AUD has also bounced and against the EUR appears poised to rally […]
FX Market Technical Research
EUR/USD sold off all week and closed below the 1.2530 Fibonacci retracement (just). The new low has not been confirmed by the daily RSI however and this suggests caution here and some near term consolidation.
Technical Analysis: Wave Principle Letter (Americas): The big sell-out
Financial history is littered with examples where prominent corporate deals mark significant turning points. And the Information Technology sector seems to have all the technical analysis components necessary for a lasting downturn, in tune with American stock markets in general. The US Dollar is finally starting to lift off from its bottoming cycle, bond yields […]
GBP/USD Analysis
Closed in NY Friday at $1.5660, as rate recovered off traded lows of $1.5630. Rate was marked higher into early Asia on weekend press reports which prompted a move back into risk.
EUR/USD Analysis
Rate closed in NY Friday at $1.2516, having seen lows in this session of $1.2495 before bouncing back after taking out option barrier interest at $1.2500. Rate opened in Asia at $1.2544, leaving a decent gap as it was marked higher following weekend press reports showing Greek pro-bailout party ND overtaking SYRIZA.
Technical Analysis
€ reaction underway? AUD rebounds. NOK/SEK bids?… EUR/USD Fibo cluster still supportive… EUR/AUD Time to resell the cross!?… EUR/JPY Possible bull divergence… EUR/SEK Key support to be tested… USD/SEK Most likely a bull triangle… EUR/NOK Back at the floor… NOK/SEK Ending downside correction.
AUD/USD Analysis
AUD/USD has advanced in Asian trade Monday, as a risk short-covering rally across Asia has seen the rate outperform its peers. AUD opened the session around $0.9770 and has rallied to $0.9863 after weekend opinion polls in Greece showed pro-bailout party New Democracy gained maximum votes.