Forex Market
GBP Analysis
Cable closed in NY at $1.6125 after recovering to $1.6135 in this session and holding above $1.6100 ($1.6109 pullback low) into the close. Trade in a generally subdued Asian session was contained within a tight $1.6110/30 range, with early trade into Europe seeing cable initially struggle to edge higher in tandem with EUR/USD, which allowed […]
Behavioral Finance: Daily Forex Outlook: The euro’s puzzling resilience
EUR USD (1.3150) Since weeks the euro is wedged in a narrow range closer to the year-high than the year-low. This trend did not alter yesterday even though the political risk in the eurozone leapt back into the market focus.
Daily FX Technical Strategy: AUD on the ropes
Over the last 24 hours, the outlook for the AUD has deteriorated somewhat and against the majors key support is under threat. For the time being though the support is holding but key levels are close at hand and worth noting. Like a fighter, the AUD is on the ropes, absorbing blows, it is on […]
Technical Analysis
Weaker SEK & AUD and focus on European yield spreads… EUR/USD The 1.3058 ref is exposed… EUR/JPY Ought to test supports below… AUD/USD The recent 1.0226 low exposed… EUR/SEK Headed back over 8.93… USD/SEK Back in a bullish impulse… EUR/NOK Must break the 21day EMA…
GBP/USD Analysis
Closed in NY at $1.6125 after recovering to $1.6135 in this session and holding above $1.6100 ($1.6109 pullback low) into the close. Trade in a generally subdued Asian session was contained within a tight $1.6110/30 range, the rate currently trading around $1.6122 at writing and seen struggling to edge higher in tandem with EUR/USD and […]
FX Market Technical Research
EUR/USD has again failed to maintain a minor break of the 55 day ma and sold off back into its range. Directly overhead sit the 1.3305/20 downtrends, and these continue to effectively block the topside. These are the 5 month downtrend and the 8 month channel.
EUR/USD Analysis
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.
European FX Daily – AUD hurt by weak Australia CPI
– AUD down 0.6%, Asian stocks down 0.1-1.1% – Weak Australia CPI supports RBA easing – Italian bond auction in focus – Hungary MC to keep rates on hold at 7%
AUD/USD Analysis
Opened in Asia at $1.0319 and after edging up to around $1.0325 came under pressure on cross sales out of Tokyo in the AUD/JPY. The move was then accelerated by the release of very poor CPI data which rose by just +0.1% in Q1 against expectations of a rise of 05-0.8%.
USD/JPY Analysis
Opened in Asia at Y81.18 after lows in NY of Y80.97 and after edging to Y81.19 in early trade this morning, came under pressure from heavy cross sales in the EUR and AUD, as well as some sovereign supply.
EUR Analysis
Euro had turned defensive at the start of the week as French and Dutch political concerns added to data weakness to fuel a strong risk-off tone to markets, global stocks down hard and US stocks tracking along.
JPY Analysis
Yen had enjoyed lift overnight on safe-haven considerations at the same time that euro had turned defensive, the dollar pair flushing layered stops before finding a base at Y80.97 ahead of the US session.