Tag Archives: Crude Oil
FX Daily
Market movers today – We expect euro area industrial production to decline 0.6% m/m in July.
Stronger NOK & AUD and weaker JPY can’t be neglected
EUR/USD: The high end of “the Cloud” and the 21day “Base line” keeps capping. Over 1.3299 is needed to start seeing the Aug-Sep decline as either a more complex trend lower
Correctional moves (weaker dollar) remain in play
EUR/USD: The recent/ongoing move higher has come with two consecutive rather large daily candles. The rolling 21day high/low average aka “Base line” was respected yesterday,
Daily FX Wrap and Strategy
The NZD/USD moved higher overnight in the backdrop of a weaker USD. It sits at 0.8020 this morning. The NZD/USD was initially a little softer yesterday.
Mainly corrective forces at play. Ended yen correction
EUR/USD: After the marginally new low was set the market entered the outlined upside correction phase.
SEK weakness temporary seen pausing.
EUR/USD: The break of 1.3157 confirmed the end to the minor reaction hence paving the way for a fresh low. So current low, 1.3117,
SEK make or break day, $ & AUD firmer
EUR/USD: The reaction back up to 1.3218 at least fulfilled the minimum criteria for a minor correction even though we think 1.3237/55 would have fitted better.
FX Daily
Market movers today ● Today’s main event is the ECB meeting this afternoon. In our view, there are fewer arguments for a rate cut today than a month ago,
Broad yen weakness. Renewed em weakness.
EUR/USD: There’s now a possible completed wave 3 in place given that we’ve having reached (and for a short while violated) the minimum target,
FX Daily
Market movers today ● We expect no change to the final euro area service PMI, but look for some upside surprise in service PMI for Spain and Italy compared with consensus expectations.