Forex Market
GBP/USD Analysis
Early Asian reserve manager demand was met by leveraged sellers in the US afternoon as cable tracked the softer euro-dollar to close in NY at $1.6130.
EUR/USD Analysis
Closed in NY at $1.2940, the rate recovered from a pullback low of $1.2929 after earlier posting a high of $1.2982. Risk sentiment from encouraging labour data was eroded by news that a Greek court ruled pension reforms requested by the Troika in order for Greece to secure more bailout cash may be unconstitutional.
Asian Currencies Technicals
AUD/USD: Testing Oct 18 Highs. The AUD/USD managed to come within a pip of the Oct 18 highs with a close above needed to maintain overall bullish focus and keep hopes of a retest of the Sept monthly highs alive.
FX Market Analysis
EUR: Opened early Europe at $1.2960, Euro-dollar closed in NY at $1.2958, just off pullback lows of $1.2956 after rate had been pressured lower through the end month fixings on expected flows.
European FX Daily
– China PMIs rise in October, as did most other Asian PMIs – Korean trade data stronger than expected in October – UK PMI likely to ease, US ISM likely flat
Technical Analysis
It’s not overly exciting out there at the moment… EURUSD & EURJPY shows diverging directionals this morning with the former below 1.2945 would target the high-1.28s while the latter over 104.05 & 104.43 would target levels above last month’s high…
FX Market Technical Research
EUR/USD: Golden-Cross Formed, Daily Studies Turn Higher. The pair again holds above the Jul support line, initial support with the 5-DMA at $1.2945.
GBP/USD Analysis
Closed in NY at $1.6130 after rate had eased off session highs of $1.6139 to $1.6126 into the close. Rate had seen a strong recovery rally through the day, the move up aided by the increase in SNB sterling holdings in their published reserves.
EUR/USD Analysis
Closed in NY at $1.2958, just off pullback lows of $1.2956 after rate had been pressured lower through the end month fixings on expected flows. Rate squeezed down to $1.2952 in early Asian trade, as traders probed for stops.
Asian Currencies Technicals
AUD/USD: Dip Back To $1.0290 Favoured. The AUD/USD continues to fail ahead of the Oct 18 highs with a close above needed to see a bullish focus maintained that has potential for a retest of Sept monthly highs.
FX Market Analysis
EUR: Opened early Europe at $1.2960, Euro-dollar closed in NY at $1.2960 after easing from recovery highs of $1.2984, having seen lows into Tuesday’s Europe open of $1.2886.
European FX Daily
– Australian building approvals strengthen – Singapore’s unemployment rate fell to a 7-quarter low in Q3 – Chicago PMI and Swiss reserve accumulation in focus – We recommend short-dated USDJPY downside RKI seagulls