Forex Market
Asia today: USDJPY hits 4-1/2 week high as US yields extend gains
Asia was again content to mark time in currency markets with the overnight moves forcing consolidation again at lower levels.
Asian Currencies Technicals
AUD/USD: Dips below 21 day moving average. The AUD/USD has extended the sequence of lower highs and lows, dipping below the 21 day MA for the first time in a month with the Aug 2 lows remaining somewhat pivotal.
GBP Analysis
Opened early Europe at $1.5672, stg0.7866, GBP closed in NY at $1.5676, off lows at $1.5671 and seen after rate had extended its corrective pullback off post UK CPI release highs of $1.5730.
EUR Analysis
Opened early Europe at $1.2328, EUR/USD closed in NY at $1.2321, just off the lows of $1.2317 seen after the USD got a general boost on the back of better than expected US retail sales data. Rate squeezed down to retest the NY low into early Asia, again basing here before picking up demand into […]
JPY Analysis
Opened in early Europe at Y78.78 and Y97.12, opened in Asia at Y78.75 and consolidated gains after release of strong US Retail Sales data.
FX Daily Majors
Today’s highlights: * EURUSD: Failure to break above 1.2387/8 and subsequent reversal lower turns the focus back on 1.2242. Through here signals the start of next leg lower to 1.2042, then 1.1876.
European FX Daily
* US retail sales drive modest paring of Fed QE trades * Singapore (new report): we expect the pace of SGD appreciation to slow * Empire Fed to give a first look at August US data
Technical Analysis
UpThrust” warning on the S&P500 index!… EUR/USD Respecting resistance… AUD/USD Ongoing correction lower… EUR/SEK Mid-body support noted… EUR/NOK Could still recheck ~7.34\35… USD/NOK Testing resistance at 5.93\98…
FX Market Technical Research
EUR/USD: Focus on Fibonacci Level, 21-DMA. The daily stochastic study forms a bear-cross, while 10-day momentum is flirting with the zero line, keeping bear’s attention on the 21-DMA, which rises to $1.2274.
GBP/USD Analysis
Closed in NY at $1.5676, off lows at $1.5671, seen after rate had extended its corrective pullback off post UK CPI release highs of $1.5730.
EUR/USD Analysis
Closed in NY at $1.2321, just off lows of $1.2317 seen after the dollar got a general boost on the back of better than expected US retail sales data.
Asia today: Risk currencies in tight ranges at lower levels
Once again Asia consolidated the overnight currency moves, only this time to the downside.