Forex News
FX Technical Volume Strategy: Investors back the AUD/NZD break
– Volumes eased back slightly on the last trading day for Q3. – AUD/NZD selling triggered a multi-year topping pattern and rising volume levels signal that investors are backing the down-move.
FX Daily Strategist: Europe
– Markets sluggish on Chinese PMI; AUD heavy on crosses Markets are sluggish in holiday-thinned Asian markets today with Chinese data yet again disappointing. The official NBS PMI came in contractionary territory for the second straight month (the first consecutive sequence since 2009) and following the weekend HSBC PMI (contracted 11th month).
3 Numbers to Watch: US ISM Manufacturing, DE PMI, Bernanke speech
We start the new week with lots of hype about two major M&A deals. The merger between mining giants Glencore and Xstrata looks set to be going ahead, with latest reports suggesting that a final deal was hammered out over the weekend.
FX Daily Strategist: US
– Risk-on likely undeterred by Spanish bank review this evening ; Look to add to short USD The long-awaited Spanish budget has been well received by markets with Spanish sovereign spreads relative to Germany narrowing and global equities finishing higher.
FX Trends daily (FOCUS : NOK/SEK)
NOK/SEK After a rebound last week, the cross has resumed its downtrend and broke below a short term support at 1.1440. In this context, an extension of this trend is likely toward the major support zone at 1.1145-1.1204 (long term support line and August low pivot).
Asia Today: USDJPY pops higher after aggressive BOJ easing
Asia spent the morning waiting for the Bank of Japan announcement and kept currencies tight-ranged but at the lower levels established overnight.
FX Technical Volume Strategy: NZD/USD sellers emerge
– Increased volumes are being maintained at above median levels for the past 12-months as investor activity grows after recent ECB and FOMC announcements.
Asia Today: Risk rally stalls; US to fight China on auto subsidy
Asia kept risk and related currencies at their post-FOMC highs in the early stages of the day as a Tokyo holiday reduced both liquidity and activity.
FX Technical Volume Strategy: EUR/USD rises with volume
– Volume levels bounced back after Monday’s lull as investors continue to build on the positioning initiated at the end of last week. – Bullish investor sentiment in EUR/USD is endorsed by the above-average volume that is accompanying up-days.
FX Technical Volume Strategy: USD/CAD – steady as she goes
The excitement of last week quickly faded yesterday and volume dropped swiftly. However there is little yet that suggests the overall squeeze is actually over.
Asia Today: Waiting for Wednesday; Currencies steady, stocks weak
The mild risk-off mood that permeated through markets yesterday extended into today’s Asian session. We had a number of data points, but none were first-tier and had little impact on the day’s activity.
FX Technical Volume Strategy: EUR/CHF buying holds ground
– Overall volumes are stabilising at higher levels as investors reposition themselves after the holiday period. – After several weeks of declining volume, the recent large increase in EUR/CHF volume endorses the upside breakout.