Forex Market
GBP/USD Analysis
Closed in NY Friday at $1.6132 after rate had struggled to take advantage of the risk on reaction to the release of weaker than forecast US trade data.
EUR/USD Analysis
Closed in NY Friday at $1.3343, after rate had been pressured to a session high of $1.3366 on reaction to the wider than forecast US trade deficit.
Asian Currencies Technicals
AUD/USD: Jan 9 Lows Key Support For Now. The pullback from ahead of the 21 day upper Bollinger band on Friday has seen a double daily top develop and helped to relieve the topside pressure a little,
AUD/USD Analysis
The aussie is higher at $1.0546 vs $1.0532 close last week, after moving lower on Friday when it failed to break past the $1.0600 mark and eased in line with weakness in commodities and lack-luster equities.
Mid-Day FX Market Analysis
EUR – Closed in NY Thursday at $1.3262 after ECB Draghi hawkish comments at the ECB meeting press conference spiked rate to a high of $1.3273 from pre comment levels of $1.3114.
Technical Alert
It’s bascially back to the drawing board after yesterday’s €urophoria…our view of a soon break lower in EURUSD has been proven wrong and a new high above 1.3309 to be seen before a new attempt to peak will take place.
Daily Market Technicals
EUR/USD: Massive Break Higher And Focus Turns To $1.3308. The pair leaves a long white candle, sending daily studies higher,
USD/JPY Analysis
Dollar-yen gained a late NY session boost as traders reacted to a Nikkei news release stating that the BOJ and Japan govt had released a draft accord on a 2.0% inflation target.
GBP/USD Analysis
Closed in NY at $1.6164 after rate had been pulled up to $1.6168 by euro-dollar’s stronger recovery following Thursday’s ECB Draghi hawkish comments, from pre comment level of $1.6048.
EUR/USD Analysis
Closed in NY Thursday at $1.3262 after ECB Draghi’s press conference was seen hawkish, analysts putting back any thoughts of a rate cut to Q2 from Q1,
Asian Currencies Technicals
AUD/USD: Sept Monthly Highs Now Targeted. COMMENTARY: The pair has traded at the highest level in four months with the Sept monthly high now firmly in focus.
USD/JPY Analysis
The pair is likely to trade with a firm undertone today in Asia amid growing speculation that the Bank of Japan would take more aggressive monetary action to deal with the prolonged deflation and also to help improve the employment.