Forex Market
EUR Analysis
Opened early Europe at $1.3186, EUR/USD closed in NY at $1.3217, the rate correcting away from a late recovery high of $1.3240, with news of S&P’s downgrading of Spain by two notches to BBB+ hitting the markets at 1700EDT which dropped rate to $1.31766 at the Asia open in very thin trading conditions.
GBP Analysis
Opened early Europe at $1.6172 stg0.8154, GBP closed in NY at $1.6179, the rate having retained an underlying buoyant tone through Thursday’s session, holding just off extended highs at $1.6208, with pullbacks in this session contained by $1.6167.
JPY Analysis
Opened in early Europe at Y80.88 and Y106.61, USD/JPY opened in Asia at Y81.20 and headed lower on exporter supply through Y81.00 to Y80.90 as volumes remained light into the BOJ policy decision.
Behavioral Finance: Daily Forex Outlook: Chorus for growth is not in harmony
EUR USD (1.3200) A two-notch S&P downgrade with a negative outlook for Spain has come as a result of the risks to the country’s budgetary performance from shrinking economic growth. This downgrade seems to support a recent wave of opinion against austerity.
GBP/USD Analysis
Closed in NY at $1.6179, the rate having retained an underlying buoyant tone through Thursday’s session, holding just off extended highs at $1.6208, with pullbacks in this session contained by $1.6167.
EUR/USD Analysis
Closed in NY at $1.3217, the rate correcting away from a late recovery high of $1.3240, with news of S&P’s downgrading of Spain by two notches to BBB+ hitting the markets at 1700EDT dropping the rate down to opening Asian session lows of $1.31766 in very thin trading conditions.
Technical Analysis
A softer €, stronger JPY, weaker NOK & MXN… EUR/USD So far kept within the band… NZD/JPY Inversed pressure cooker… EUR/GBP New lows underway… EUR/SEK Still a mid body buy… USD/SEK Finally a sign of buyers… EUR/NOK Finally some action!… NOK/SEK Volatile.
EUR Analysis
Opened early Europe at $1.3224, EUR/USD closed in NY at $1.3218 after rate had bounced from session lows of $1.3173 to $1.3234 as market reacted to FOMC statement (viewed hawkish), then Fed Bernanke’s press conference (viewed dovish).
GBP Analysis
Opened early Europe at $1.6168 stg0.8179, GBP closed in NY at $1.6167, after rate had bounced back from post GDP release lows of $1.6082 to $1.6183 as it took full advantage of the dollar sell off as market reacted to dovish comments from Ben Bernanke (seen leaving door ajar to possible QE3) in his post […]
Behavioral Finance: Daily Forex Outlook: The growth gap gets a voice
EUR USD (1.3225) French presidential candidate Hollande’s suggestions for boosting growth include the issue of infrastructurerelated eurobonds, the mobilisation of existing structural funds and a financial transaction tax.
GBP/USD Analysis
Closed in NY at $1.6167, after rate had bounced back from post GDP release lows of $1.6082 to $1.6183 as it took full advantage of the USD sell off as market reacted to dovish comments from Ben Bernanke (leaves door ajar to possible QE3) in his post FOMC press conference.
EUR/USD Analysis
Closed in NY at $1.3218 after rate had been bounced from session lows of $1.3173 to $1.3234 as market reacted to FOMC statement (viewed hawkish) the Fed Bernanke’s press conference (viewed dovish as left open the use of QE3).