Forex Market
Technical Analysis
Seeking new AUD lows, SEK taking a beating… EUR/USD More congestion seen… AUD/USD Topside spike points lower… EUR/SEK Channel ceiling in focus… USD/SEK 7.0365 up for grabs… EUR/NOK Closed above the flag… USD/NOK Pressure cooker break… EUR/GBP BIG volume – non trending day… USD/CAD Next attempt at resistance.
AUD/USD Analysis
AUD/USD has spent the majority of the Asian session in a fairly narrow $1.0044-$1.0083 range so far, with the pair currently trading $1.0064 down 18 pips from yesterday’s close of $1.0082.
China CPI remains below target – IP, retail sales to come
The first batch of today’s Chinese data held no surprises for the market. CPI came in as expected at +3.4 percent y/y, slightly lower than March’s 3.6 percent. This is the third month in a row it has held below the government’s annual target of 4 percent but food prices continue to rise with food […]
Behavioral Finance: Daily Forex Outlook: The euro aspires to a transfer union
EUR USD (1.2945) Fifty-seven percent of 1253 analysts and traders polled in a Bloomberg survey believe one country will exit eurozone by the end of the year. We reckon that more than anything else what the poll really implies is that in the absence of an explicit monetary transfer mechanism, the union is likely to […]
GBP Analysis
Opened early Europe at $1.6140, stg0.8024, EUR/GBP came under pressure in early Asia, a UK clearer a noted seller as the stg0.8000 barrier was targeted. Rate posted fresh 42-month lows at stg0.8001 before recovering.
JPY Analysis
Opened in early Europe at Y79.68 and Y103.12, Opened in Asia at Y79.67 and headed higher on weaker than expected trade data, before running into fund supply and paring gains. USD extended losses to Y79.60 where importer demand and some profit taking cushioned the move, later grinding higher to Y79.65 and trade sideways.
EUR Analysis
Opened early Europe at $1.2952, EUR/USD closed in NY at $1.2927 following a roller coaster session which saw rate hit lows of $1.2912, recovering to $1.2978 before dropping back to $1.2925 ahead of the close. Moves were mainly dictated by market reaction to stories concerning Greek debt and Spanish bank concerns.
Daily FX Technical Strategy: Spanish woes impact euro
In the current environment of risk aversion, where global equity indices from the S&P 500 to the Shanghai Composite are correcting lower, our focus is drawn to Spain. The Spanish IBEX index is trading at levels not seen since 2009 and the 10-year benchmark yield is back above 6%. This has forced the spread against […]
FX Market Technical Research
EUR/USD has eroded the 61.8% retracement of the move seen this year so far at 1.2954 and dropped into 4 month lows. The resistance above 1.3081 is prolific and the 5 and 8 month downtrends at 1.3233/50 offer tough resistance for the market.
GBP/USD Analysis
EUR/GBP came under pressure during Asian trade, with a UK clearer and US names noted sellers in early trade as the stg0.8000 barrier was targeted. Rate posted fresh 42-month lows at stg0.8001 before recovering.
EUR/USD Analysis
Closed in NY at $1.2927 following a roller coaster session which saw rate hit lows of $1.2912, recovering to $1.2978 before dropping back to $1.2925 ahead of the close. Moves were mainly dictated by market reaction to stories concerning Greek debt going forward and Spanish bank concerns.
Technical Analysis
EZ worries still in focus… EUR/USD Finally closed below support… SPAIN IBEX Cliff hanger… NZD/USD Minor bounce, then lower… EUR/SEK Range ceiling under pressure… USD/SEK 7.0365 next key resistance… EUR/NOK Look for returning 7.53/4 bids… NOK/SEK Topside pressure mounting.