Forex Market
FX Market Technical Research
EUR/USD: Approaching One-Year Resistance Line. The pair is approaching a resistance line from Aug 29 2011, which is valued at $1.2663 and declining 7 pips/day.
USD/JPY Analysis
Dollar-yen consolidated Thursday’s gains through Asia within a tight Y78.86/96 range. The rate was able to make a brief show above Y79.00 (Y79.04) in NY as it was driven higher on the back of US yields, which in turn were boosted by release of an upbeat ADP,
GBP/USD Analysis
Closed in NY at $1.5935 after correcting back from NY session highs of $1.5943. Rate continued to pare Thursday’s gains into early Asia, the rate touching a session low at $1.5923 before edging back to $1.5938 ahead of the European open.
EUR/USD Analysis
Closed in NY at $1.2632 after rate had seen highs Thursday of $1.2652, following an unchanged rate decision by the ECB, sinking to $1.2561 as Draghi outlined (an already leaked) bond buying plan.
Asia today: It’s risk on in Asia after ECB’s bond plan unveiled
The final piece of the Australian data jigsaw fell in to place today with the release of July’s trade report.
Asian Currencies Technicals
AUD/USD: Oversold daily techs studies correcting. Very O/S daily tech studies have come into play with the pair bouncing back towards the 100 week MA ($1.0298) and the Ichimoku cloud top ($1.0314).
Draghi confirms ECB will conditionally buy bonds
Market largely got what it expected with the Draghi press conference today – but market limbo may continue after today’s response to the ECB news as biggest event risks don’t arrive until next week.
Americas FX Daily
A bid for risk ahead of the ECB meeting What happened overnight – Riksbank surprises market with a 25bp cut to 1.25% – Australia reports 8.8K decline in employment in August – Bank Negara Malaysia left rates and guidance unchanged – Bank of England left rates and asset purchases unchanged
FX Market Analysis
GBP: Opened early Europe at $1.5902, stg0.7926, GBP closed in NY at $1.5902 having pulled back from a session high of $1.5934. Rate was squeezed to an extended low of $1.5892 as rate took direction from euro-dollar, which in turn reacted to the Aussie sell off following release of Australian jobs data.
FX G10 and EM Morning Trader Views
G10 EUR – ECB day has arrived, although much was leaked yesterday afternoon sending the eur a quick 100 pips higher. Eur x’s big beneficiaries from the sterilisation and also from the talk on seniority –
Technical Analysis
Eventful day(s) ahead. The common ccy resilient going into ECB with EURUSD looking set for yet another correctinal high, 1.2675? 1.2748?, EURJPY buyers at the low end of range threatens the upper boundary, EURGBP also failed to move lower,
FX Market Technical Research
EUR/USD: Approaching One-Year Resistance Line. The pair is approaching a resistance line from Aug 29 2011, which is valued at $1.2670 and declining 7 pips/day.