Forex Strategies

FX Daily Majors

Today’s highlights: EURUSD has found a near-term floor at the 50% retracement barrier at 1.3374,

The NZD made an intra-night rebound on Friday, after theUS payrolls release, to end the week above 0.8510.

Currencies are diverging as we approach the NA session, a break from the trend of broad-based USD strength that we have observed throughout the week.

The NZD maintained its station in and around the 0.8500figure over the past 24 hours, keeping a tight range.

Today’s highlights: DXY $ Index above 81.38/48 sees a base established, for 83.40/48.

The NZD was whipsawed by a strong US GDP number anda mixed FOMC statement, but remains slightly weakeragainst the USD at 0.8490.

Morgan Stanley is switching its USD/JPY strategy to one of buying on dips,

A broad-based rally in the USD continues ahead of Wednesday’s event-filled NA session that will include the release of ADP employment figures,

Today’s highlights: USDCAD above 1.0871/90 would see a larger base established.

In a month some might label dull given tepid volumes , the dollar index is doing something somewhat interesting, says JP Morgan.

The NZD was the worst performing major currency, falling0.6% against the USD on the back of a lower milk payoutforecast and stronger US data.

EUR/USD: We think the downside at 1.3400 will be the harder end of the range to break,so would buy dips