Forex Market
Behavioral Finance: Daily Forex Outlook: The IMF money is conditional
EUR USD (1.3145) The IMF has received an extra $430 billion in resources after a lengthy bout of lobbying. A brief look at the news reports on the issue leaves one with an impression that should the eurozone deteriorate and policymakers actually delve into IMF funds it would not be without hefty discussions about the […]
JPY Analysis
Opened in Asia at Y82.52 and after a brief push up to Y81.67 fell back on more general risk-off sentiment led by crosses following the 1st round French presidential elections at the weekend and a break down in austerity budget talks in Holland.
GBP Analysis
GBP closed in NY at $1.6119 after rate had been pressured to a late session high of $1.6150. Rate traded the early part of Asia within a range of $1.6120/30 before getting pressed to a low of $1.6108, as EUR/GBP corrected its opening mark down from stg0.8185 to stg0.8176, before picking up fresh demand.
EUR Analysis
EUR/USD closed in NY Friday at $1.3215, off session highs of $1.3229, with rate marked down to $1.3180 into the Asia open as traders reacted to weekend events, namely the French election (first round won by Socialist Hollande) and the Dutch PM looking to salvage his austerity budget amid political chaos and seen putting the […]
Speculative Positions
JPY net short slightly trimmed SEB Risk appetite index (RAI) Risk appetite was more or less flat last week, congesting the rapid fall out of the risk neutral zone. Summary of the speculative accounts in the IMM part of the CFTC report for the period 4-10 April:
Technical Analysis – FX Daily Majors
Today’s highlights: GBPUSD: Soaring through our target area at 1.6064/90, to now eye the Q4 2011 peak, 1.6167, which we look to cap near term. But mid-Q2 risk is higher to our 1.6350 retrace target.
GBP/USD Analysis
Closed in NY at $1.6119 after rate had been pressured to late session high of $1.6150. Rate traded the early part o0f Asia within a range of $1.6120/30 before getting pressed to a low of $1.6108, as EUR/GBP corrected its opening mark down from stg0.8185 to stg0.8176, before picking up fresh demand.
Technical Analysis
Minor corrections running late, weaker NOK… EUR/USD Resistance cluster on top… EUR/JPY 233d ma high capping (?) NZD/USD Rechecking the flag exit… EUR/SEK Sitting at the 55d ma low… USD/SEK Looking for buyers… EUR/NOK More upside action awaited… NOK/SEK Support under pressure.
EUR/USD Analysis
Closed in NY Friday at $1.3220, off session highs of $1.3229, with rate marked down to $1.3180 into the Asia open as traders reacted to weekend events, namely the French election (first round won by Socialist Hollande, but Le Pen’s stronger than expected showing causing some concern) and the Dutch PM looking to salvage his […]
USD/JPY Analysis
Opened in Asia at Y82.52 and after a brief push up to Y81.67 fell back on more general risk-off sentiment led by crosses following the 1st round French presidential elections at the weekend and a break down in austerity budget talks in Holland.
AUD/USD Analysis
Opened in Asia at $1.0380 trading down to $1.0367 before pushing up to $1.0385. Soggy equities and a much weaker than expected PPI ahead of tomorrow’s important CPI data led the pair sharply lower to $1.0326 before a stronger HSBC Flash China manufacturing PMI reading and option related buying led a bounce to $1.0349.
EUR Analysis
Euro was holding a firm tone at the start of the US session, bolstered by upbeat eurozone data and by a squeeze on shorts ahead of the weekend. Pair had stalled just atop $1.3200 but reversal consolidated above $1.3180 as dip buyers emerged and fresh demand into the ECB fixing allowed a quick pop to […]