Forex Market
The dollar hits resistance on profit-taking ahead of the weekend
Profit-taking into the weekend was the order of the day during the Asian session, with the USD struggling to make further gains after its two-day rally. On the data front, headline Singapore non-oil domestic exports staged a mighty rebound in February, rising 30.5 percent y/y versus consensus estimates of +16.2 percent after a strong performance […]
FX Daily Strategist: US
USD may have further legs with dovish Fed rhetoric ignored The European session saw some profit taking with the USD softening a tad against the JPY and EUR in response to a pause in the move higher in UST yields. EURUSD has recovered further from the 1.3004 low in Asia but this seems more related […]
Technical Analysis: Let the big dog eat
The US Dollar, sometimes known as “the big dollar” continues to build momentum for a sustained move higher. Corrections should be bought. The low Bollinger Band width in US T-bonds is resulting in the anticipated volatility breakout – watch 2.08% in the 10-year very carefully. Stocks continue to walk up the down escalator as gains […]
GBP Analysis
Cable closed in NY at $1.5667, off session lows of $1.5660, with rate able to hold above the earlier Asian base at $1.5650 despite the Fitch outlook change for the UK to negative. Rate edged to overnight highs at $1.5671 into early Asian dealing before reversing lower, the rate extending its pullback lows off Tuesday’s […]
UBS Morning Adviser America
EURCHF Dips Post-SNB Risk appetite generally managed to hold its course overnight with most European bourses either in flat or positive territory. There is also rising interest in the ascendency in bond yields, especially of that in the US – USDJPY continues to feed off the widening of the 2yr UST-JGB yield spread, driven by […]
EUR Analysis
Closed in NY at $1.3032, off session lows of $1.3011. Strong demand for dollar-yen into the Asian session weighed back on EUR/USD, as EUR/JPY met resistance on approach to Y109.50, with rate pressed down to lows of $1.30041.
JPY Analysis
Opened in Asia at Y83.69 and after an early low of Y83.65 headed up on investor and PRDC related demand on the Tokyo opening bell taking out a Y84.00 barrier and triggering stop loss buying to highs of Y84.19.
Daily FX Technical Strategy: US yield rise lends further USD support
Having broken out of well-established ranges earlier in the week, US yields are surging higher across the curve. Into next week, we suspect the pace of the move will slow given approaching stronger support but for the time being, the dollar is responding.
Behavioral Finance: Daily Forex Outlook: Market feels compelled to believe in green shoots
EUR USD (1.3025) Optimism about the US economy has sparked a rise in the US Treasury yields, a rally in the stock market and a higher dollar index. This is in sharp contrast to a just a week ago when a Wall Street Journal article dwelling on the possible new options the Fed may employ […]
Technical Analysis
The greenback continues to be in demand, pushing several dollar pairs through their key levels. Euro x:s a bit more mixed posting both winners and losers. JPY & Scandies still under pressure.
GBP/USD Analysis
Closed in NY at $1.5667, off session lows of $1.5660 with rate able to hold above the earlier Asian base at $1.5650 despite the Fitch outlook change for the UK to negative. Rate edged up to mark overnight highs at $1.5671 into early Asian dealing before reversing lower, the rate breaking below $1.5650 to extend […]
EUR/USD Analysis
Closed in NY at $1.3032, off session lows of $1.3011. Strong demand for dollar-yen into the Asian session weighed back on EUR/USD, as EUR/JPY met resistance on approach to Y109.50, with rate pressed down to lows of $1.30041.