Tag Archives: Crude Oil
Sell €/JPY above 140. Weaker SEK, NOK & PLN.
EUR/USD: So far this week each and every day has fallen below theprior day’s low point only to be immediately rejected andending in the upper end of the daily range.
FX Daily
Emerging markets continue to be the focal point. As long as this is the case financial markets will take the lead from the development in the EM currencies and macroeconomic data will be of secondary importance.
The loonie is stuck on a losing track. SEK tries to break resistance.
EUR/USD: Another lower daily high and lower low was addedyesterday, but buyers responded near the 8day “Tenkan-Sen” & Jab23 bullish benchmark candle mid-body point at1.3622.
FX Daily
We expect the Fed to cut its monthly bond purchases by an additional USD10bn in connection with today’s meeting and hence stick to its unofficial plan for tapering.
EM corrections (not trend-benders) elsewhere mostly consolidation
EUR/USD: The ongoing decline from the recent high (1.3740) lookscorrectional. Intraday conditions would once again bebullish if/when the “B-wave high” at 1.3717 is taken out.
FX Daily
Focus will be on emerging markets where one of the important battle lines so far has been Turkey’s attempt to stabilise its currency.
Monitor the Yen. Sell cable and NOK.
EUR/USD: The, so far non sustained, break above 1.3700 indicates thatthe entire decline from 1.3894 might have been just a threewave downside correction hence suggesting that a newtrend high will be set in
FX Daily
Market focus will remain on the development in emerging markets. At this stage we do not expect the emerging market wobbles to be enough to prevent Fed to continue tapering in connection with the FOMC meeting on Wednesday.
Weekly Economic & Financial Commentary
The Recovery Remains in the New Year · An uptick in the Leading Economic Index points to slightly stronger future growth,
Europe & yen in fashion, EMs are not & the dollar stands in the middle
EUR/USD: A huge bullish candle flew in from left field yesterdaybreaking resistance pockets near 1.3600 and at 1.3650 likenothing. The short-term key ref at 1.3700 is now up to thetest.
FX Daily
In terms of data releases we have a very thin calendar today but there are some interesting events. A potential rating decision from Moody’s on France’s sovereign rating might attract some attention.
FX Daily
The main release will be euro PMI in January. Manufacturing PMI is likely to move broadly sideways after having been on an upward trend since April 2013.