Forex Market
JPY Analysis
An early dollar rally across several pairs allowed USD/JPY to lift to Y81.74 around the ECB fixing, marking a marginal new high for the day, while euro weakness outpaced, sending EUR/JPY skidding to Y106.50 around the same time.
GBP Analysis
GBP closed in NY at $1.6021 after rate had extended Wednesday’s post BOE Minutes induced rally to $1.6043. Trade through the overnight Asian session was contained within a $1.6015/35 consolidation range.
JPY Analysis
Opened in Asia at Y81.26 and slipped to Y81.17 in early trade this morning following a smaller than expected Japanese trade deficit. A Xinhua article on the PBOC possibly boosting liquidity and buying from Japanese banks and a US leveraged fund led a bounce to Y81.55, before exporters surfaced and led a small dip to […]
EUR Analysis
EUR/USD closed in NY at $1.3123 after settling following a NY afternoon recovery to $1.31376. Trade through the overnight session was contained within a tight $1.3110/32 range, favouring the bottom end into early European dealing. Rate came under pressure into early Europe, as market probed for stops below the Asian base, taking the rate to […]
Behavioral Finance: Daily Forex Outlook: A less worrisome Spanish bond auction
EUR USD (1.3115) An apprehensive eye will be kept on the Spanish 10-year bond auction today as stress on the eurozone persists from the periphery. Statistics from Spain, such as the 3 percent decline in house prices in the last quarter and the 17-year high in bad debt on the country’s bank’s balance sheets keep […]
GBP/USD Analysis
Closed in NY at $1.6021 after rate had extended Wednesday’s post BOE Minutes induced rally to $1.6043. Trade through the overnight Asian session was contained within a $1.6015/35 range as the pound consolidated Wednesday’s gains. Rate was trading around $1.6020 into early European dealing.
EUR/USD Analysis
Closed in NY at $1.3123 after settling back following a NY afternoon recovery to $1.31376. Trade through the overnight session was contained within a tight $1.3110/32 range, with rate favouring the bottom end into early European dealing.
Technical Analysis
NZD, EM’s under pressure, GBP in demand… EUR/USD Congestion… GBP/USD 1.6063 key to development… NZD/USD Soon to exit the bear flag… EUR/SEK Closed below the 8.87 supp… USD/SEK Still bids in the 6.72/74-area… EUR/NOK Correction target met… NOK/SEK A bearish key day reversal.
USD/JPY Analysis
Opened in Asia at Y81.26 after a lacklustre NY session that ranged Y81.21-45, and slipped to Y81.17 in early trade this morning following a smaller than expected Japanese trade deficit.
Another China easing rumour supports risk in Asia
At the start of the Asian session we heard more rumours about an imminent China easing, which set risk off on a solid footing for the session. The China chatter came from a Xinhua news agency piece “announcing” (according to an un-named central bank official) that the central bank was to increase reverse repo operations […]
AUD/USD Analysis
Opened in Asia at $1.0359 after lows in NY of $1.0341, but remains in the broader range of $1.0300-1.0450 and lagged the euro as EUR/AUD bounced yesterday from A$1.2600 to A$1.2678.
EUR Analysis
EUR/USD was defensive as EUR/GBP wilted in the wake of cable strength related to MPC 8-1 vote on further QE and lows were minted as the US session got underway. A modest bounce saw lift to $1.3100 around the ECB fixing before euro returned to the defensive and fresh lows were minted at $1.3058 on […]