Forex Strategies
UBS Morning Adviser
Careful calibration needed for RBNZ as NZD weakens for the wrong reasons Witnessing a currency declining from self-professed ‘overvalued’ levels is normally welcomed by any central bank.
Daily FX Wrap and Strategy
The NZD/USD sits a little higher, at 0.8520, this morning.Yesterday’s data showed NZ Q1 manufacturing volumesrose 0.5% in the quarter.
FX Daily Majors
Today’s highlights: EURUSD remains bearish for a test of price support at 1.3503 next.
UBS Morning Adviser
Delayed second-wave of euro weakness ahead? On Wednesday, the ECB rate cuts announced last week finally take effect.
Daily FX Wrap and Strategy
The NZD/USD sits only fractionally lower this morning, at0.8490, having touched intra-night around 0.8530.
FX Daily Majors
Today’s highlights: EURUSD remains capped below 1.3688/90 – price resistance and 38.2% retracement of the decline from May – leaving the risk marginally lower.
UBS Morning Adviser
Two days of sharply lower fixings raise questions on further RMB weakness Following Friday’s sharply lower official USDCNY mid-rate fixing
Daily FX Wrap and Strategy
Despite a little US payrolls-inspired volatility, the NZD/USDended the week little changed from Friday morning, at0.8500.
Daily FX Update
Leading into nonfarm payrolls the market’s attention is firmly on EUR and its resilience to downside pressure. The U.S. 10‐year is trading at 2.57; while equities are vaguely firmer and the USD is mixed.
FX Daily Majors
Today’s highlights: EURUSD ideally stays capped below price resistance at 1.3689/90.
UBS Morning Adviser
Does recent China manufacturing PMI suggest the mini-stimulus is working? This past Tuesday’s release of final May HSBC Manufacturing PMI reached a 4-month high.