Forex Market
Technical Analysis
EUR/GBP lower, HUF rising and bonds back on track… EUR/USD Ending reaction?… EUR/JPY Still struggling in the bands… EUR/GBP Looking for a new low… EUR/SEK Sideways then higher… USD/SEK Waiting for buyers… EUR/NOK Slow… EUR/HUF Falling out of bed.
GBP Analysis
GBP closed in NY at $1.6144, the rate having recovered from a pullback low of $1.6127 after extending recent highs earlier in the day to $1.6164. Rate consolidated its recent recovery, trade through the Asian session contained within a range of $1.6136/51, with early sales into Europe retesting the overnight low before marking a fresh […]
EUR Analysis
EUR/USD closed in NY at $1.3198, the rate recovering from a pullback low of $1.3180 into Asian trade after rate had seen session highs in NY of $1.3219. Rate initially dipped to mark overnight lows at $1.31917 before picking up fresh demand, the market risk on tone boosted by the strong results from Apple.
JPY Analysis
Opened in Asia at Y81.32 after a recovery yesterday from lows in NY of Y81.01. The pair headed higher as the Nikkei pushed up over 1% in early trading on the back of rises in US stocks and strong Apple earnings but the move stalled into offers above Y81.50 from exporters, models and macro funds […]
Behavioral Finance: Daily Forex Outlook: The austerity dilemma
EUR USD (1.3195) The successful Dutch government bond sale managed to offset the negative sentiment that the political upheaval in Netherlands triggered in the market. Nevertheless the collapse of the Dutch government bought into forefront the challenges of trying to implement austerity programmes, not just in the periphery but in the AAA-rated core economies too.
Technical Analysis
Many markets are pausing, commodities extend losses… EUR/USD No new directional information… USD/JPY Another leg higher underway?… AUD/USD Notable buyers’ response… EUR/SEK Mid-body support confirmed… USD/SEK Hugging support… EUR/NOK Acceleration higher needed… NOK/SEK Micro-term bullish flag… GBP/USD Running out of steam.
GBP/USD Analysis
Closed in NY at $1.6144, the rate having recovered from a pullback low of $1.6127 after extending recent highs earlier in the day to $1.6164. Rate consolidated its recent recovery, trade through the Asian session contained within a range of $1.6136/51, with early sales into Europe retesting the overnight low in tandem with EUR/USD.
EUR/USD Analysis
Closed in NY at $1.3198, the rate recovering from a pullback low of $1.3180 into Asian trade after rate had seen session highs in NY of $1.3219. Rate initially dipped back to mark overnight lows at $1.31917 before picking up fresh demand, the market risk on tone boosted by the strong results from Apple.
AUD/USD Analysis
Opened in Sydney around $1.0292 and headed sharply higher following the strong Apple earnings to highs of $1.0339 in thin trading as Australia and NZ respect the ANZAC annual holiday. The move also buoyed AUD/JPY which hoisted the cross back through Y84.00 to Y84.24 despite a lack of Japanese fixing demand.
USD/JPY Analysis
Opened in Asia at Y81.32 after a recovery yesterday from lows in NY of Y81.01. The pair headed higher as the Nikkei pushed up over 1% in early trading on the back of rises in US stocks and strong Apple earnings but the move stalled into offers above Y81.50 from exporters, models and macro funds […]
EUR Analysis
EUR/USD closed in NY at $1.3156. Trade through Asia was initially contained within a very tight range of $1.3147/58, dipping down to mark session lows at $1.3145, as rate reacted to Aussie’s fall following the weak release of Australian inflation data, before recovering back, touching overnight highs at $1.31602 ahead of the European open.
JPY Analysis
Opened in Asia at Y81.18 and came under early pressure from heavy cross sales in the euro and aussie, as well as some sovereign supply. The move down tripped stops through Y80.95 to lows of Y80.86.