Forex Market
GBP Analysis
Cable closed in NY Friday at $1.5836, having been pressured to an extended recovery high of $1.5862 on a general dollar sell off following release of weaker than expected US data. Rate eased into Asian trading, marking session lows at $1.5829 before recovering in a lightly traded session to a high of $1.5850.
EUR Analysis
EUR/USD closed in NY Friday at $1.3172, off rally highs at $1.3187 after it had been driven higher on the back of a general dollar sell off prompted by the release of slightly softer than expected US data.
JPY Analysis
Opened in Asia at Y83.40 after highs of Y83.94 on Friday were pared back on poor US CPI, IP data that sparked broad based dollar weakness and strong profit taking from leveraged names.
Behavioral Finance: Daily Forex Outlook: The bond market finally believes in green shoots
EUR USD (1.3170) Although US data had started surprising to the upside in the last quarter, it is the rise in US Treasury yields over the last few days that seems to be finally convincing the sceptics that the US ‘green shoots’ might be here to stay.
FX Daily Strategist: Europe
USD loses most of its earlier-week gains; soft US core a factor A quick look-back shows the USD was actually weaker on the week (in DXY terms at least) and within G10 was only stronger versus CAD, NOK and JPY. USD gains earlier in the week followed the break higher in Treasury yields, the latter […]
FX Market Technical Research
EUR/USD on Friday saw a strong rebound from support at 1.3000. This has been stronger than we thought, but is viewed as a correction only. It is possible that this rebound will return to the 1.3291/1.3325 region, however we would again expect that to provoke failure.
Technical Analysis
End-of-week demand in GBPUSD & EURUSD, or is there more buying in the pipe? Watch 1.5884 & 1.3192 for more clues, or 1.5750 & 1.3120 for that matter… USDJPY looks set to ignite a correction lower, so below 82.90 must be watched closely…
GBP/USD Analysis
Closed in NY Friday at $1.5836, having been pressured to an extended recovery high of $1.5862 on a general dollar sell off following release of weaker than expected US data. Rate slipped back to mark session lows at $1.5829 before recovering, in a lightly traded session, to a high of $1.5850.
EUR/USD Analysis
Closed in NY Friday at $1.3172, off rally highs at $1.3187 after rate had been driven higher on the back of a general dollar sell off prompted by the release of slightly softer than expected US data.
The dollar continues to trickle lower in a quiet Asian session
A quiet start to the week, with Asia confined to tight ranges across all currency pairs with no data releases to spur activity. China equity markets were in the red after softer housing data at the weekend, but the rest remained in the black.
AUD/USD Analysis
Opened in Sydney around $1.0584 after a strong rally in NY on Friday from $1.0532 to $1.0597 on the back of weaker US CPI, IP and confidence data which sparked some strong short-covering from the leverage community.
USD/JPY Analysis
Opened in Asia at Y83.40 after highs of Y83.94 on Friday were pared back on poor US CPI, IP data that sparked broad based USD weakness and strong profit taking from leveraged names. After early lows of Y83.36, the USD was pulled higher by cross buying to Y83.57 led by EUR/JPY which finally took out […]