Forex Market
GBP/USD Analysis
Closed in NY at $1.5730, off NY recovery highs of $1.5740, and initially edged to $1.5737 into early Asian trade as rate tracked the early mark up in EUR/USD. Rate reversed off highs into the main Asian session, the rate easing through the balance of the session to a session low of $1.5702.
EUR/USD Analysis
Closed in NY at $1.3219, after rate saw an aggressive recovery rally through the afternoon session off pullback lows of $1.3093 to $1.3235. Rate picked up fresh demand into early Auckland trade Monday, as market reacted positively to weekend reports in the WSJ suggesting the Greek debt deal with its private investors was close to […]
FX Market Technical Research
EUR/USD has reached its initial corrective target of 1.3245/50, the 38.2% retracement of the move down from November. We would ideally like to see failure here, this is our initial corrective target/measurement and automatic Elliot wave count, but acknowledge that while above the near term uptrend at 1.3072 the market remains bid.
AUD/USD Analysis
Opened in Sydney with a small gap down to $1.0641 from a NY close of $1.0657. Weekend comments from Germany’s Schaeuble and Germany’s recommendation for an appointment of a European” budget commissioner” led to a sell-off in EUR/USD which along with profit taking in AUD crosses, a lower Yuan fix and a falling Shanghai composite, […]
USD/JPY Analysis
Opened in Asia at Y76.68 and remains under pressure after last Wednesday’s bounce to Y78.28 had been completely undone into the weekend. Friday’s weak GDP report and expectations of further QE from the Fed causing the damage.
US FX Market Summary
The euro rose to a six-week high Friday as investors became more optimistic that Greece and its private-sector creditors would reach an agreement. Reports on the progress of the talks, including a comment on Friday by Finance Minister Evangelos Venizelos that Greece was one step away from concluding a deal on the EUR100 billion ($132 […]
Behavioral Finance: Daily Forex Outlook : Fed inflation target is just right for dollar bulls
EUR USD (1.3110) The intellectual debate on the Fed’s new inflation target began in earnest yesterday, led by Paul Krugman who insisted that two percent was too low. For inflating away debts quickly, this is certainly the case.
UniCredit EEMEA Daily
News HU: Positive – AKK sells higher than expected amount at HGB auction amid strong demand HU: Negative – Fidesz Deputy Chairman Kosa says govt is unlikely to change the flat tax despite IMF request
GBP/USD ANALYSIS
Closed in NY at $1.5690, after pulling back from extended highs of $1.5735 to $1.5669. Rate initially edged higher in Asia, marking a recovery high at $1.5698 before turning lower as yen crosses came under pressure into the Tokyo fix.
FX Market Technical Research
EUR/USD has charted a ‘Doji’ at 1.3184, this marks indecision just ahead of our corrective target of 1.3200/50, and suggests to us that the correction higher that has been in place since the 16th January is likely to be over. We are unable to rule out a move to the 1.3245/50 zone (38.2% retracement of […]
EUR/USD ANALYSIS
Closed in NY at $1.3105, after recovering off pullback lows of $1.3095, after rate had been pressed down from extended post FOMC highs of $1.3184. Yen crosses came under pressure into the Tokyo fix, the pressure from this action extending EUR/USD pullback lows to $1.3077 before demand emerged ahead of reported bids placed at $1.3070. […]
AUD/USD ANALYSIS
Opened in Asia at $1.0631 with the pair down from highs yesterday of $1.0688 seen in Europe. Better than expected NZ Dec trade data weighed on the AUD/NZD which prompted a slide in the cross to NZ$1.2924 from NZ$1.2966, which stalled an early rise in AUD/USD at $1.0641.