Forex News
Daily Currency Briefing: All eyes on Trichet.
G10 Currencies EUR: Another month has passed and the question arises: “strong vigilance” or not. Will the ECB president use the code word for a rate hike at the next meeting on 7th July or will he disappoint markets?
Commodity Currencies Weekly Technicals – Most commodity currencies look to give back some of their recent gains versus the greenback
AUD/USD: Is starting to slip and is to drop towards its 2010-11 support line at 1.0202 as long as 1.0890 caps. NZD/USD: Trades near its recent 29 year high at .8267 and may still reach the .8395 level before turning.
UniCredit EEMEA daily.
News BG: Mixed – Activity indicators off to a shaky start of 2Q11 (p2) HU: Positive – April IndOut increases 6.9% yoy (p2)
Chart Watch – US dollar has reached key Fibo supports – allow for near term profit taking.
The US dollar has reached several key Fibonacci supports, which we suspect will hold the initial test and prompt some profit taking – notably the US dollar index has reached its 78.6% retracement at 73.48.
FX Ringside: NOK Views: weaker flows prevent further NOK strength.
NOK Views: weaker flows prevent further NOK strength Today we release a new issue of our NOK Views. In the last issue of NOK Views (Scandie Views – Oct 2010) we expected the NOK to strengthen further as the flow position improved and as monetary policy was not anticipated to provide support.
Daily Forex Outlook: Chairman Bernanke’s oil price theory.
EUR USD (1.4655) China must be aware of the economic and political risks of excessive US dollar holdings, the China Finance 40 Forum reported yesterday. The warning was issued by a senior official at the State Administration of Foreign Exchange.
Technical Analysis: The AUD gets it on the chin and S&P500 is ready to move lower.
The euro keeps scoring and EURUSD has an attraction area above in the mid\high-1.47s to test… AUDUSD has been hit overnight and a 1.0580 test draws closer…
Moody’s on the UK.
LONDON (MNI) – The UK could lose its prized ‘Aaa’ credit rating if growth remains weak and the coalition government fails to meet its fiscal consolidation targets, a senior analyst at ratings agency Moody’s has told Market News International.
FX DAILY STRATEGIST: Europe – 08 June 2011.
Bernanke throwing in the towel? Equity market seems to think so, but US investors still more interested in return on, not return of, capital. Yen crosses at risk as positioning, risk appetite, Treasuries combine.
Daily Currency Briefing: Showdown regarding Greece.
G10 Currencies EUR-USD: Are markets no longer worried about a Greek default? One would be forgiven for thinking so, after all EUR-USD still trades above 1.46 despite the fact that the German Minister of Finance Wolfgang Schauble now demands a restructuring of Greek debt.
Technical Analysis – FX Daily Majors.
Today’s highlights: EUR/USD: Still better recovery tone after Monday’s pause keeps spotlight on 78.6% retracement/chart resistance at 1.4735/54 today; mid-month risk is to the cycle high, 1.4944
Daily Market Technicals – EUR/CHF is seen to gradually recover.
EUR/CHF is still seen bouncing off the 1.2050 level and is heading towards the 1.2372/1.2414 resistance area. This is where the December and March lows coincide with the downtrend channel resistance line. While capped here a negative bias will remain entrenched in the medium term, though.