Forex Market
USD/JPY Analysis
Closed in NY at Y78.70 off earlier Y78.78 highs. Month end demand in early Asia lifted dollar-yen to Y78.75, the move however was countered by sharp aussie-yen sales printing a low of Y81.14.
GBP/USD Analysis
Closed in NY at $1.5833, after rate had seen session highs of $1.5855 before pulling back to $1.5809. Rate initially dipped to $1.2527 before edging to session highs of $1.5835.
EUR/USD Analysis
Closed in NY at $1.2530 after rate settled around this area through late afternoon trade following a late recovery rally to $1.2549. Rate had earlier been repulsed from $1.2565, trading to session lows of $1.2518.
Asia today: Oz Q2 capital expenditure firm, but AUD stuck at lows
Once again, Asia started today’s session in a positive mood with the spillover from better US data encouraging risk appetite. It didn’t last, however, and currency pairs were slumped at the bottom of the day’s (albeit narrow) range by lunch.
Global Technical Watch – Quick Charts (Aug 30)
The turn lower in the gold/silver ratio is potentially telling of investor expectations. Such a trend was seen more sustainably in 2010 and 2008 when asset purchases were announced.
Asian Focus: USDJPY direction in big Japanese data week
Japanese numbers are particularly in focus this week in Asia after the Japanese Government revised down its assessment of Japan’s economy earlier this week due largely to the global economic slowdown’s effects on the country’s exports and industrial production.
A slow day so far in FX land for non-NOK currencies
The NOK was all over the place today and sterling perked up a bit against the Euro, but it was a slow day today in FX land as the market awaits the rigours of the end of summer.
FX Daily Crosses
Today’s highlights: * EUR/GBP: The spotlight remains on the .7950/64 barrier. * EUR/JPY: The deadlock continues, but while trend support at 97.30 holds, the recovery risks remain to 100.00/01 ahead of 100.72 where we would expect selling.
FX Market Analysis
GBP: Opened early Europe at $1.5814, stg0.7940, Cable closed in NY at $1.5819 after pulling back from a fix driven high of $1.5837.
Daily FX Technical Strategy – EUR squeeze is not yet a game changer
FX volumes picked up yesterday following the long weekend in the UK but remain at levels that suggest the summer doldrums will persist this week into the month end.
FX G10 and EM Morning Trader Views
G10 EUR – Still playing the 1.2450/1.2600 range – some good rm and model buying yest took us back above 1.25 while some decent lev selling capped us at 1.2560-80 area – support is still 1.2530 then 1.2450 – topside resistance is 1.2590 (fibo) then 1.2600 (100 day m.a) – currently short against the recent […]
GBPUSD – avoiding a sell-off for how long?
GBPUSD survived a test of critical support yesterday, but may not be so lucky next time around. As volatility is likely to heat up in coming weeks.