Forex Market
AUD/USD Analysis
AUD/USD has been in decline during the Asian session with the market once again testing the low posted yesterday around $1.0285. Prices advanced back up to $1.0338 late on after the U.S. close, but the rate has once again been under pressure during Asian trading hours.
AUD pressured as services PMI suggests Oz economy deteriorating
With risk appetite already in the dumps following the overnight release of disappointing data out of both Europe and the US, early data from New Zealand and Australia did nothing to help the mood.
USD/JPY Analysis
USD/JPY opened at Y80.12 in Asian trade and has traded a narrow Y80.11 to Y80.20 range. Flows are light, with volumes hampered by a Tokyo holiday, a s Japan continues to enjoy the Golden Week vacation.
Market remembers how it is supposed to react to bad news
A string of awful European PMI’s today has the market in a lousy mood and the USD back on top where it belongs. Let’s see if the next couple of days accelerate the move or keep us tied up in range purgatory.
Americas FX Daily – Weak European PMI weigh on sentimen
Weak European PMI weigh on sentiment What happened overnight – Italian and Spanish PMI deteriorate in April, driving euro area PMI lower – Norway PMI falls 4 points, Swedish PMI moves sideways – Swiss PMI declines back below 50, lowest since November 2011
EUR Analysis
Opened early Europe at $1.3223, EUR/USD closed in NY at $1.3235 after recovering off a post ISM low of $1.32045 to $1.3240. Rate nudged up to $1.3242 in early Asia, the market probing for stops above $1.3240 before turning lower with larger stops below $1.3200 targeted.
JPY Analysis
Opened in early Europe at Y80.35 and Y106.20, USD/JPY opened in Asia at Y80.10 and headed higher to Y80.26 in light flow With many Japanese houses maintaining skeleton staff due to the Golden Week holidays.
GBP Analysis
Opened early Europe at $1.6233 stg0.8164, GBP closed in NY at $1.6220 after rate had recovered off session lows of $1.6186 to $1.6230. Trade in Asia was contained within a reasonably tight range of $1.6219/37, remaining buoyed above $1.62 following two visits below Tuesday.
Behavioral Finance: Daily Forex Outlook : Eurozone-US cleft fails to unsettle the euro
EUR USD (1.3225) It is hard to ignore the positive tone of the recent US data – the headline ISM data was strongest in 10 months, the Fed Senior Loan Officer Survey revealed that US banks saw increased demand for lending in Q1 (although eurozone branches of these banks did not show the trend) and […]
GBP/USD Analysis
Closed in NY at $1.6220 after rate had recovered off session lows of $1.6186 to $1.6230. Trade in Asia was contained within a reasonably tight range of $1.6219/37, the rate remaining buoyed above $1.62 following two visits below Tuesday.
Technical Analysis
Aussie likely testing <1.0250 again… EUR/USD Watch 1.3204\1.3284 for clues… USD/JPY Some response at key support… AUD/USD Likely closing in on 1.0247… EUR/SEK Small near-term downside tilt… USD/SEK Weak short-term directionals… EUR/NOK Hesitation at high end of “Flag”… NOK/SEK Contracting range.
EUR/USD Analysis
Closed in NY at $1.3235 after recovering off a post ISM low of $1.32045 to $1.3240. Rate nudged up to $1.3242 in early Asian dealing, the market probing for stops above the mentioned recovery high, before turning lower with larger stops below $1.3200 targeted.