Forex Market
EUR/USD Analysis
Closed in NY at $1.3047 as rate recovered off session lows of $1.3029. A paring back of risk positions Tuesday saw rate extend its corrective pullback off Monday highs at $1.31729 to $1.3029.
USD/JPY Analysis
The dollar is mixed Wednesday, giving up ground on the dollar and gaining on the yen as the BOJ exceeds market easing expectations.
AUD/USD Analysis
Closed in NY at $1.0454 after recovering from intraday lows of $1.0410 to $1.0456 into the close. Rate initially squeezed down to $1.0436 in early local trade before recovering to retest that NY recovery high only to meet Aussie-yen sales as Japanese showed strong yen demand into the Tokyo fix.
Asia Today: USDJPY pops higher after aggressive BOJ easing
Asia spent the morning waiting for the Bank of Japan announcement and kept currencies tight-ranged but at the lower levels established overnight.
Asian Currencies Technicals
AUD/USD: Focus Now On 200-DMA Tests. Very overbought daily RSI, Slow Stochastic and Momentum studies appear to be taking their toll on the pair with the immediate focus now on tests of the 200-DMA.
FX Market Analysis
EUR: Opened early Europe at $1.3104, Euro-dollar closed in NY at $1.3115 having pulled back from an extended recovery high of $1.3172 before pulling back to $1.3092 ahead of the close.
Technical Analysis
EURUSD is allowed to pause the otherwise paced move higher. Levels at 1.3060 or possibly even 1.2975 could be rechecked… EURJPY has rushed higher, but also a touch too fast.
FX Market Technical Research
EUR/USD. Although marginally managing fresh 4 month highs to start the week the EUR/USD remains capped by the long term falling daily trend line off 2011 highs from May 4 coming in around $1.3180.
GBP/USD Analysis
Closed in NY at $1.6252 after rate had corrected back from $1.6273 to $1.6233 ahead of the close.
USD/JPY Analysis
Yen crosses opened the Asian session heavy, a returning Japanese market taking advantage of Monday’s softening in the yen to sell back into dollar-yen and euro-yen.
EUR/USD Analysis
Closed in NY at $1.3115 having pulled back from an extended recovery high of $1.3172 before pulling back to $1.3092 ahead of the close.
AUD/USD Analysis
Closed in NY at $1.0474 having extended its corrective pullback from Friday highs at $1.0625 to $1.0455. Rate dropped to $1.0437 on release of RBA Minutes, the market reacting to comments that RBA saw scope to cut rates should outlook worsen significantly.