Forex Market
EUR/USD Analysis
Closed in NY at $1.2915 after rate had bounced back from initial Spain Budget react lows of $1.2829 to $1.2928 as market perceived that the austerity measures announced would leave open the door to Spain asking for bond buy aid from the ECB without further austerity requirements.
Asian Currencies Technicals
AUD/USD: Pressure Shifts Topside. After failing to close below the 200-DMA pressure is on the Sept 25 highs topside, with a close above seeing focus return to tests of the Sept monthly highs so far at $1.0624.
Americas FX Daily
Weak data leads to a broadly weaker Euro What happened overnight – Euro zone economic sentiment falls to a new 2009 low – Italian business confidence up a bit from weak levels – German unemployment rises for sixth straight month
FX Daily Strategist: US
– Peripheral euro zone risks will hold back EURUSD today; We favour short USD exposure The bout of broad-based USD strength amid risk-aversion seen yesterday has reversed a little given renewed stimulus hopes in China this morning.
FX Market Analysis
EUR: Opened early Europe at $1.2880, Euro-dollar closed in NY at $1.2873 after recovering through the session from a low of $1.2835 into a late high of $1.2875.
European FX Daily
– Risk rallies in Asia – China’s industrial profits fall – US durable goods orders likely weak at headline, strong at core
FX Daily Strategist: Europe
– EUR, AUD & NZD rebound but peripheral eurozone risks continue to steer the markets Broad USD strength has reversed during the Asian time zone despite ongoing concerns over Spain. The EURUSD has bounced to 1.29 while the rise in Australian jobs vacancies (+ 4.2% in August) has pushed the AUDUSD back above 1.04.
FX G10 and EM Morning Trader Views
G10 EUR (1.2889) – Super Friday looms tomorrow, but before Spain grabs the limelight we still have 24 hours to navigate through choppy waters.
Technical Analysis
With many ccy pairs having arrived at support/resistance points a clear slowdown in activity noted. EURUSD resting at the low end of the 233d ma, EURJPY on its July support line, CABLE ndecisive with false breaks now on both sides, EURSEK still waiting to pass the neckline,
FX Market Technical Research
EUR/USD: 200-DMA Remains Key To Direction. The pair pulled up just short of the 200-DMA overnight and with daily tech studies no longer an issue and the 200-DMA key support, a close below today is need or else EUR/USD risks a bounce back towards the $1.2972 resistance level.
GBP/USD Analysis
Closed in NY at $1.6162 after recovering off session lows at $1.6137 to $1.6167 ahead of the close. Rate dipped back to $1.6160 in early Asia before picking up fresh demand as session opened with tentative risk appetite, prompted by the positive opening in Asian equities.
EUR/USD Analysis
Closed in NY at $1.2873 after recovering through the session from a low of $1.2835 into a late high of $1.2875.