Forex Market
Behavioral Finance: Daily Forex Outlook: ‘Green shoots’ go unsung this time
EUR USD (1.3125) With early (at the time, unconfirmed) reports that Greek policymakers had been able to plug a €325 million budget hole, and that the ECB intended to swap its ‘old’ Greek bonds for new PSIexempt paper, the stage was set yesterday for a bailout deal on Monday and for a swift completion of […]
JPY Analysis
Opened in early Europe at Y79.14 and Y103.81. Opened in Asia at Y78.93 and has again consolidated previous day’s gains as it pulls well clear of the 200 day MA at Y78.04 broken on Tuesday.
EUR/USD Analysis
Opened in early Europe at $1.3118 Opened at $1.3130 in Asia having bounced strongly from NY lows of $1.2974 on talk that the ECB would swap its Greek bonds holdings for newly issued ones, prompted the start of renewed speculation that the Greek bailout deal would be signed on Monday.
GBP/USD Analysis
Opened in early Europe at $1.5795 and stg0.8304. Opened in Asia at $1.5800 after a strong pull up from lows of $1.5655 as NY opened. The pair launched a strong recovery as risk appetite built with cable lifting throughout the N. American session peaking at $1.5817, later easing to $1.5800 into the close.
Technical Analysis
EUR/USD – spiked in the support zone…EUR/JPY – up-thrust signal failed…USD/JPY – trying it above the 233d ma…EUR/SEK – cautiously watching 8.8520…USD/SEK – rejected from the 55d ma…EUR/NOK – knocking on the trap door.
Technical Analysis – FX Daily Majors
Today’s highlights: · AUDUSD: Upward trendline spanning from December lows holds strong, with the 1.0629 low intact. Rebound through 1.0779 implies a re-test of the 1.0847 high
Waiting for (another) Manic Monday? the next timeline for Greece
There was not much to report for the Asian session today as the EUR consolidated following the strong rebound seen overnight. The only item on the data agenda was Singapore’s export figures for January and, like those seen for China, they generally disappointed.
AUD/USD Analysis
Opened at $1.0755 after benefiting from the massive risk rally in NY which saw the pair leap back from lows in Europe of $1.0646 to $1.0774 in NY. The pair has been assisted by some very strong demand in crosses notably the AUD/JPY, and sales in EUR/AUD.
USD/JPY Analysis
Opened in Asia at Y78.93 and has again consolidated previous day’s gains as it pulls well clear of the 200 day MA at Y78.04 broken on Tuesday. Steady buying from importers and model accounts have chewed through a myriad of exporter offers over the last couple of sessions.
GBP/USD Analysis
Opened in Asia at $1.5800 after a strong pull up from lows of $1.5655 as NY opened. The pair launched a strong recovery as risk appetite built on stronger US jobless claims and talk that the ECB might swap it’s existing Greek bonds estimated at E40bln for new ones under the same terms, in an […]
EUR/USD Analysis
Opened at $1.3130 in Asia having bounced strongly from NY lows of $1.2974 as talk that the ECB would swap its Greek bonds holdings for newly issued ones, prompted the start of renewed speculation that the Greek bailout deal would be signed on Monday.
US Market Review
The USD fell against the euro Thursday following reports that some of Europe’s national central banks may be willing to swap their Greek debt holdings, and European leaders are on track to approve money aid to Greece next week.