Forex Market
FX Market Analysis
GBP: Opened early Europe at $1.5786, stg0.7909, GBP closed in NY at $1.5788, after pulling back from an intraday high of $1.5829 (NY high $1.5817) in a quiet, London holiday session.
FX Daily Crosses
Today’s highlights: * EUR/GBP: An inside session sees a quiet start to the week and the spotlight still on the .7925/64 barrier, which we still look to try and cap to keep the medium-term trend lower.
FX Daily Strategist: Europe
* Weak China data set market tone, although light volumes keep price action limited The combination of a light data calendar and a UK holiday kept volumes light and FX markets directionless. However, the main focus for FX markets has been on China.
Technical Analysis
Aussie is down under, scandies fare better… EUR/USD Set to test mid-1.24 support… EUR/JPY Bullish flag or a top forming… AUD/USD Testing sort-term key support… EUR/SEK Gunning for the 8.2020 low…
FX Market Technical Research
EUR/USD: The pair holds above the former 61.8% retracement level, which had capped at $1.2444, with this level now turning support.
GBP/USD Analysis
Closed in NY at $1.5788, after pulling back from an intraday high of $1.5829 (NY high $1.5817) in a quiet, London holiday session.
EUR/USD Analysis
Closed in NY at $1.2499 after pulling back from a session high of $1.25358 to $1.2496 in a very quiet London holiday market. Rate recovered to $1.2506 into early Asian trade before risk appetite began to fade.
Asia today: Mild risk-off bias presses currencies, stocks lower
Tight ranges from overnight ensured a steady start to the Asian session but as the session wore on we felt a distinct bias towards risk-off.
Asian Currencies Technicals
AUD/USD: Initial focus remains on 200 day MA. Minor new 4 week lows again for the pair as it continues to pause in the $1.0370/75 region.
CFTC: Dollar position negative for the first time in 11 months
Money managers continued as net sellers of dollars for the fifth week in a row according to data from the CFTC covering the end of trading on August 21, which was one day ahead of the release of the dovish Federal Open Market Committee minutes from the US Federal Reserve.
FX Market Analysis
GBP: Opened in early Europe at $1.5812 and stg0.7910. Closed in NY Friday at $1.5803 having slipped off early European highs of $1.5869.
Technical Analysis
Gold shines & AUD/USD erasing support… EUR/USD The “cloud” so far capping… AUD/USD Ended below 1.0410… EUR/SEK All correction targets met… USD/SEK Still hovering above support…