Forex Market
FX G10 and EM Morning Trader Views
G10 EUR – The selling continues after the end of last weeks Spanish yield inspired Friday blow out, London walks in with EURUSD lower on the Sydney open and taking out 1.21 barriers as I type.
Tougher verbal intervention ahead
JPY NEER far stronger than in October last year, led by EUR/JPY Renewed concern over the Spanish situation has pushed EUR/JPY down to 94 yen, the lowest level since November 2000. Driven by the EUR weakness, JPY NEER has already reached a higher level than just before the largest-ever JPY selling intervention by Japanese authorities, […]
Technical Analysis
The euro remains out of fashion with fresh EURUSD & EURJPY just scored. Heavy looking EuroStoxx50 and soaring 10y SPA/GER (& ITA/GER) spread(s) is a burden to carry.
FX Market Technical Research
EUR/USD: Breaks Under 50% of Range. The EUR breaks below 50% of it’s post-launch range, at $1.2135, which may now offer some resistance, as 10-day momentum weakens.
GBP/USD Analysis
Closed in NY at $1.5615, just off session lows of $1.5613. Rate marked session highs into early Asia of $1.5626, as EUR/GBP was marked through Friday’s lows of stg0.7772 to stg0.7756 on early euro pressure.
EUR/USD Analysis
Closed in NY Friday at $1.2160, off lows of $1.2244 as the euro was squeezed lower on the back of euro negative news. Rate was marked lower into Asian trade Monday, tripping stops through $1.2140 to $1.2115, as weekend press continued Friday’s euro negative theme, with concerns about Greece coming back to the fore as […]
Asia today: Greece is (again) the word; Spain a very close second
There were further damaging press headlines for the Eurozone over the weekend so the EUR started this week off on an even weaker note.
AUD/NZD – Positioning for a retracement
We expect slowing Australian inflation, a balanced RBNZ statement and weakness in European activity indicators to depreciate AUD/NZD in coming weeks from the current two-month high.
Asian Currencies Technicals
AUD/USD: Pauses ahead of key resistance. The AUD/USD put in an inside day to end the week last week and opens below initial support to start the new week.
GBP Analysis
Opened early Europe at $1.5707, stg0.7805, GBP closed in NY at $1.5722 after being driven to extended highs of $1.5735 on a EUR/GBP sell off, the cross breaking below stg0.7800 to mark fresh 44-mth lows at stg0.7792.
JPY Analysis
Opened in early Europe at Y78.58 and Y96.32, USD/JPY opened in Asia at Y78.72 and lifted to Y78.81 on Japanese importer demand ahead of the Tokyo fix. Profit take sales eased, before a wave of cross selling added weight to print Y78.56 lows.
EUR Analysis
Opened early Europe at $1.2260, EUR/USD closed in NY at $1.2280, after rate had recovered off NY lows of $1.2229 to $1.2290, with rate opening Asia at recognizable levels seen through the week.