Forex Market
EUR/USD Analysis
Closed in NY at $1.2730, having been pressed to session lows of $1.2722 on continued paring back of risk positions prompted by fall out from the Greek political impasse and forecast effects on the euro. Rate edged to an early recovery high of $1.2738 on reported profit take buys, but upside momentum quickly faded.
AUD/USD Analysis
AUD/USD opened the Asian session around $0.9938 and has been in a range of $0.9907-$0.9949 pressured by risk aversion as the market jitters surrounding Greece increase. The pair remained reasonably firm early as exporters were seen entering the market covering exposures alongside a U.S. investment bank, but the pair struggled to make an impression above […]
Asian trading: EUR struggles at the bottom of the recent range
The EUR started the Asian session at the NY lows – and stayed there. There was not too much activity to report but risk and the associated currencies traded with a heavy bias with the USD index extending yesterday’s up-move with gains of 0.1 percent.
Behavioral Finance: Daily Forex Outlook: Worst-case eurozone scenario a little less likely
EUR USD (1.2830) Several surveys of investor expectations seem to indicate that many increasingly see at least one country exiting the eurozone in the next 12 months. Of course last week’s post-election impasse in Greece is one of the factors that have caused probability estimates to tick upwards.
EUR/USD Analysis
Closed in NY at $1.2822, closing close to session lows of $1.2821 after rate was given another shove lower late in the session as Moody’s downgraded 26 Italian banks, the move taking out option barrier interest at $1.2825.
Technical Analysis
Scandies & EMs look vulnerable still (lack-of-liquidity)… EUR/USD Challenging support… EUR/JPY Stretched but still offered… EUR/GBP Bullish candle crushed… EUR/SEK Taking it into a stretch?… USD/SEK Bullishly into a fresh yearly high… EUR/NOK Key 7.6270 ref under pressure… USD/NOK Pursuing the short-term stretch.
AUD/USD Analysis
AUD/USD opened the Asian session around $0.9958 and has been seen in a range of $0.9945 to $0.9986 so far. Some reported buying from the export sector initially saw prices firm up early on in the Asian session.
AUD dips following mildly dovish RBA minutes
The newly-released minutes of the last RBA meeting, where a surprise 50bp cut was delivered, was not a real market mover during today’s Asian session, as we have already seen the BA’s monetary policy statement in the meantime.
Technical Analysis: Open long USD-CAD
With momentum turning higher (5 day moving average crossing above the 40 day moving average), the long term trend higher (200 day moving average sloping up) and a bullish Elliott Wave structure we open a long USD-CAD position at 1.0030 in medium size.
Behavioral Finance: Daily Forex Outlook: Why didn’t the euro fall sooner?
EUR USD (1.2890) Surveys conducted among the Greek population since the election consistently show that at least 75 percent still want their country to stay in the eurozone. However, there are also several surveys that show that a considerable percentage of voters continue to support the left radicals who completely denounce the austerity programme and […]
GBP Analysis
Opened early Europe at $1.6063, stg0.8022, Cable closed in NY at $1.6072 with early demand, following the weekend cut in China’s RRR by 50bps, taking the rate up to overnight highs of $1.6080 as early market reacted to Aussie’s lead.
EUR Analysis
Opened early Europe at $1.2887, Closed in NY Friday at $1.2928. Rate initially marked highs at $1.2933 into Asian dealing, as a US name drove Aussie up to an early high of $1.0062 following the China 50bps RRR cut at the weekend, before turning lower.