Forex Market
GBP/USD Analysis
Closed in NY around $1.5890, after rate had bounced back from traded lows at $1.5833 to a session recovery high of $1.5895. Rate resumed its recovery tone into Asian trading, the rate pushing to a high of $1.5909 (Europe high Weds) before settling between $1.5895/05 ahead of the European open.
EUR/USD Analysis
Closed in NY at $1.3140 after recovering from session lows of $1.31072. Rate eased back to mark early lows in Asia at $1.3136 before resuming its recovery. Offers placed to $1.3150 again provided resistance, as they had done in late NY, but fresh demand emerged to trigger weak stops above this level with rate eventually […]
AUD/USD Analysis
Opened in Sydney at $1.0255 after lows of $1.0244 in London yesterday and pushed up to $1.0284 before asian stocks and AUD/JPY sales weighed and led a fall back to opening levels.
USD/JPY Analysis
Opened in Asia at Y82.46 after a fall to Y82.09 in Europe on the back of EUR/JPY and AUD/JPY sales following a weak Spanish auction and comments from ECB’s Draghi, but recovered in the NY session towards the London Fix tripping stops through Y82.50 to highs of Y82.68.
JPY Analysis
Opened at Y82.32/108.28 after Y82.10/93 and Y108.07/109.70 overnight ranges. Yen was in demand overnight amid a liquidation of yen funded risk trades that continued in the wake of the FOMC minutes.
EUR/USD Analysis
Opened at $1.3150 after $1.3142/31 overnight range. Euro was on the defensive still as US dealings got underway, part of a bigger risk-aversion trade that continued after FOMC minutes were deemed less dovish than expected.
Behavioral Finance: Daily Forex Outlook : Market seems prone to over-reaction
EUR USD (1.3195) Investors seem to have refreshed their opinionsof US QE prospects in a familiar fashion. A steep retreat to the dollarpanned out yesterday based on surprisingly hawkish FOMC meetingminutes.
Behavioral Finance: Daily Forex Outlook: Market sentiment lags the price
EUR USD (1.3335) Over the past week more volatility has appeared in the mood of market participants than in the actual FX rate. Although spot prices are unchanged on a week ago, each day small moves are explained by large macro themes.
GBP/USD Analysis
Closed in NY at $1.6022 after recovering off session lows of $1.5992 to $1.6044. Rate marked overnight lows in Asia of $1.6021 in opening trade before rate gets pressured higher on general dollar weakness, led by a strong sell off in USD/JPY.
EUR/USD Analysis
EUR/USD closed in NY at $1.3320, after recovering off traded lows in this session of $1.3278. Rate was pulling back from a late NY recovery high of $1.3337 into Asia, the rate posting overnight lows at $1.3313 in opening trade before bouncing higher.
Technical Analysis
EUR/USD Still much unclear… EUR/JPY Increasingly bearish… GBP/USD Bearish looking “Doji” added… EUR/SEK Headed for a 8.7660 test… USD/SEK Buyers at 6.56? EUR/NOK Headed for a 7.5325/7.5175 test… USD/NOK Bullish “Doji” at support… AUD/JPY Next attempt lower underway
AUD/USD Analysis
Opened in Asia at $1.0415 recovering from lows in NY of $1.0366 as equities and commodities rallied into the close. The pair has been buoyed this morning ahead of the RBA decision by US black box and macro demand together with a strong Chinese non-mfg PMI release of 58.0 which sparked a risk rally.