Forex Market
Technical Analysis
Risk is off and the dollar and US bonds enjoy a safe heaven bid on behalf of the euro and EuroStoxx which are again punished in this environment… EURUSD failed no nail a low and could extend the slide – with the next key hurdle located at 1.1975 in mind…
FX Market Technical Research
EUR/USD: Holds Under 50% of Range. The pair holds below 50% of it’s post-launch range, at $1.2135, which may now offer some resistance.
GBP/USD Analysis
Closed in NY at $1.5505 after recovering from a NY session low of $1.5489, easing off recovery highs of $1.5520 into the close. Rate extended this pullback into early Asia, marking lows at $1.5491 before recovering in tandem with EUR/USD (EUR/GBP confined to a tight stg0.7776-88 range) to a high of $1.5517 ahead of the […]
EUR/USD Analysis
Closed in NY at $1.2060 after a late NY sell off saw rate trigger the reported barrier at $1.2050, touching a low of $1.2042 before recovering to $1.2070/75 ahead of the close.
Asia today: Oz CPI weaker but no real guarantee of lower rates
Trade data was the early focus during today’s Asian session, with both New Zealand and Japan reporting numbers for June. Australia’s all-important Q2 CPI data followed shortly after.
Global Technical Watch – Quick Charts
The initial bearish signs, such as the Reversal Day in AUD/JPY we noted earlier this week, are snowballing. Further JPY gains are likely across the board, especially as US 10y yields threaten trendline resistance near 1.36%.
Asian Currencies Technicals
AUD/USD: Key support holds on the first attempt. The pair dipped below the 21 day MA overnight but bouncing on its first attempt from the $1.0200-30 region identified as key support with a medium term rising daily trend line off the June 8 lows continuing to support.
GBP Analysis
Opened early Europe at $1.5528, stg0.7808, GBP closed in NY at $1.5510, off late recovery highs of $1.5532 after rate had seen lows on the day of $1.5486.
EUR Analysis
Opened early Europe at $1.2125, EUR/USD closed in NY at $1.2120 after rate had recovered off session lows of $1.2067 to $1.2145 on a mix of reported middle eastern demand and short covering.
JPY Analysis
Opened in early Europe at Y78.33 and Y94.95, opened in Asia at Y78.27 and saw modest gains ahead of the Tokyo fix. Comments from Japanese FinMin Azumi that the government does not exclude any steps to combat excessive yen gains was largely ignored and the rate slipped to Y78.20.
Behavioral Finance: Daily Forex Outlook: Psychological warning signs
EUR USD (1.2130) Monday was a day of warnings for the eurozone and for eurozone investors. The first ‘red-light’ came from the market itself, namely the continued spike in Spanish sovereign yields beyond the level of 7.5 percent.
FX G10 and EM Morning Trader Views
G10 EUR – Consolidation the order of the day yesterday after heavy selling from 1.2270 down on Friday – we made a new low at 1.2067 but took a breather on aggressing further –