Forex Market
USD/JPY Analysis
Return of Japanese markets from their Golden Week holidays saw traders attracted into yen as market reacted to the Eurozone election results over the weekend causing risk off sales in EUR/JPY and USD/JPY.
EUR/USD Analysis
Closed in NY at $1.3083, the rate marked lower into opening Asian session trade to $1.3065 as markets reacted to weekend election results in France and Germany but more especially in Greece as results showed that the governing coalition failed to win a majority of seats, with anti austerity parties making significant gains.
Technical Analysis
$ comeback, commodity universe hit… EUR/USD Gapped lower… AUD/USD Exited the bear flag… EUR/JPY Gapping below the neckline… EUR/SEK Topside pressure mounting… USD/SEK Trying the key resistance… EUR/NOK Bull flag exit underway… USD/NOK Powerful break higher likely… USD/CAD Longs are extremely exposed.
Weekend EU election results pile pressure on the EUR
The election results from France and Greece over the weekend resulted in a weak start for the EUR as business got underway this morning. Versus the USD, the EUR opened at 1.3030, some 30 points below Friday’s NY close, but was quickly under more pressure and fell through the key 1.30 mark shortly thereafter. Whereas […]
Behavioral Finance: Daily Forex Outlook: Range-bound euro awaits electoral impulses
EUR USD (1.3155) While maintaining rates, ECB President Draghi essentially shifted any policy change to summer when more data on the economy would lead to a clearer assessment.
GBP Analysis
Opened early Europe at $1.6185 stg0.8124, GBP closed in NY at $1.6181 after rate had seen a recovery from lows of $1.6159 to $1.6215. Rate tracked the early slippage in EUR/USD, as profit take demand for Kiwi, following its recent sell off, drove the early Asian market.
JPY Analysis
Opened in early Europe at Y80.20 and Y105.46, USD/JPY again tied to a tight range in Asian dealings Friday, as Japanese markets remained closed for the “Golden Week” holidays. Opening around Y80.28, the pair headed lower on cross yen sales from Asian names to print lows of Y80.13, before trading sideways for the remainder of […]
EUR Analysis
Opened early Europe at $1.3148, EUR/USD closed in NY at $1.3152 after rate had recovered from lows of $1.3195 to $1.3181 through the ECB press conference, as Draghi failed to fulfill expectations of a dovish stance.
FX Market Technical Research
EUR/USD steadied somewhat yesterday after the ECB press conference. While we may see further ranging, the risk will remain on the downside and while capped by the 1.3262/68 downtrends, these are the 5 month downtrend and the 8 month channel.
GBP/USD Analysis
Closed in NY at $1.6181 after rate had seen an impressive recovery from lows of $1.6159 to $1.6215. Rate tracked the early slippage in EUR/USD, as profit take demand for Kiwi, following its recent sell off, drove the early Asian market.
Technical Analysis
CRB & commodity FXers are getting hurt… EUR/USD No strong pre-NFP directionals… AUD/USD Breaking the “Bearish Flag”… GBP/USD Lasting top in place?… EUR/SEK Support confirmed… USD/SEK Not where the best action is… EUR/NOK Notable sub-7.5425 rejection… NZD/NOK Look for 4.55, but likely more.
EUR/USD Analysis
Closed in NY at $1.3152 after rate had recovered from lows of $1.3195 to $1.3181 through the ECB press conference, as Draghi failed to fulfill expectations of a dovish stance. Another subdued Asian session, Tokyo markets remaining closed for Golden Week and the usual pre US employment report low interest, with commodity currencies providing the […]