Forex Market
Worse headline Oz employment data pushes AUD lower, initially
The first of today’s central bank rate announcements came early in the Asian session, where the RBNZ kept the official cash rate unchanged at 2.5 percent, as expected. However, in his post-announcement comments, RBNZ governor Bollard highlighted improved pockets in the domestic economy and a better global outlook but noted that the recent strength of […]
AUD/USD Analysis
Recovered strongly in NY last night from lows of $1.0533 on the back of a possibility that the Fed may buy bonds and press reports that Greek bondholders had largely signed up to the debt swap. AUD rallied to $1.0593 before closing at $1.0583.
USD/JPY Analysis
Opened in Asia this morning at Y81.09 after hitting lows of Y80.60/65 in Europe/NY yesterday, the bounce seen on the back of the Fed’s potential move to buy bonds and press reports via Bloomberg that up to 58% of bondholders had signed up to the debt swap which bolstered the euro and crosses leading the […]
Behavioral Finance: Daily Forex Outlook: Periphery concerns and growth affect investors
EUR USD (1.3140) Short-term the first support is at 1.3070. Even as low as this, the euro’s recent exit from its sideways consolidation could turn out to be a false break. Below there, however, we would favour a further slide to 1.2930.
FX Market Technical Research
EUR/USD has eroded the 2 month uptrend support, this has yet to generate much of a sell off, and the market is finding some support from the top of cloud at 1.3096. This is expected to be eroded, technical indicators are negative – the daily RSI is breaking down and the daily DMI has a […]
Technical Analysis
Risk is off everywhere you look and the dollar is on and there are few escaping the weight of this… EURUSD key below remains at 1.2974… USDJPY likely falling back to/below the 80-handle and GBPUSD looks set to test the Feb 1.5648/44 lows…
GBP/USD Analysis
Closed in NY at $1.5723 after extending its recent pullback to $1.5698. Rate dipped to $1.5713 into early Asian dealing before recovering, in line with EUR/USD as markets generally moved into a recovery phase following Tuesday’s sharp sell off.
EUR/USD Analysis
Closed in NY at $1.3115, off extended pullback lows of $1.3103. Rate dipped to mark Asian session lows at $1.3105 in opening trade only to bounce back as market moved into a partial recovery mode, led by equity markets as they pared Tuesday’s losses.
AUD/USD Analysis
Opened in Asia at $1.0553 and after an early high of $1.0573 fell back sharply on a weaker q/q Q4 GDP report to lows of $1.0509 before encountering exporter, option related and asian sovereign demand.
USD/JPY Analysis
Opened in Asia at Y80.89 and fell back with crosses to Y80.58 in a continuation of risk aversion over concerns on the Greek PSI and some liquidation of carry cross trades. The Nikkei then bounced from an early dip along with EUR/JPY demand from hedge funds which helped USD/JPY back up to Y80.94 after the […]
Daily FX Technical Strategy – Kiwi takes flight
The combination of a slightly stronger USD and slightly weaker stock markets has undermined base metal prices and aluminium in particular. In FX markets, commodity currencies reflect this developing risk-off theme.
Behavioral Finance: Daily Forex Outlook: Market impatient for LTRO2 impact
EUR USD (1.3195) After the first tranche of LTRO was disbursed some observers heralded it as a panacea for the eurozone economy. Later a sort of consensus emerged that the funds had successfully relieved the funding stress of the eurozone banks.