Forex Market
GBP/USD Analysis
Cable ground lower in the US afternoon and as stocks wilted the pair made a show under $1.6000 to $1.5998, before finding support to close around $1.6010.
EUR/USD Analysis
Closed in NY Monday at $1.3060, the rate recovered from a pullback low of $1.3042 after earlier posting a high of $1.3083.
USD/JPY Analysis
Dollar-yen closed in NY Monday at session highs of Y79.94 on expectations that the BOJ will ease monetary policy at it’s meeting next week. Euro-yen closed at Y104.35, the rate recovered from a pullback low of Y104.10 after earlier posting a high of Y104.45.
Asian Currencies Technicals
AUD/USD: $1.0290 Remains Key. Although AUD/USD remains heavy it does continue to remain above the key $1.0290 support level with the 100-DMA noted around the $1.0305 level.
FX Market Analysis
EUR: Euro-dollar ground higher in a light Asian session and recovered to $1.3050, some say the move was attributed to a positive result by Spain’s ruling popular party in the weekend’s elections in Galicia, others, the $1bln option strike at $1.3050 for today’s NY cut.
European FX Daily
Asian equities down slightly, FX sideways in thin trading – Japan’s trade data disappoint again – Data heavy week ahead
CFTC: EUR buying resumed; The other currency futures were sold
Hedge funds and other large traders made only small adjustments to their IMM currency futures positions during the week ending October 16.
Technical Analysis
Risk appetite a tad lower with Spanish bond yield showing bottom-ish signs, S&P500 back risking to break the 1416 support and OIL lower.
FX Market Technical Research
EUR/USD: Former Sept 17 Resistance Line As Support. The pair finds support from the former Sept 17 resistance line while daily tech studies tick higher.
GBP/USD Analysis
Soft Housing data and weak earnings reports added weight in the US afternoon on Friday. The pair slipped in tandem with euro-dollar and triggered stops through $1.6000, to print lows of $1.5995, later bouncing to close around $1.6005.
EUR/USD Analysis
Market sentiment turned in the US afternoon on Friday and as stocks wilted on the 25th anniversary of Black Monday, euro flushed stops through $1.3020 to print session lows of $1.3013.
USD/JPY Analysis
Failed a clean break of Y79.50 in the US afternoon Friday, the rate lifted to Y79.44 before meeting strong exporter offers ahead of the barrier. The pair stalled and closed at Y79.29.