Tag Archives: EUR/JPY
Optimists squeezed again ahead of EU summit
Today saw follow through on last Thursday’s meltdown in risk, this time with the JPY cutting a vicious swath across the major currencies. The tables have been turned in major JPY crosses.
Behavioral Finance: Daily Forex Outlook: The euro is poised for further policy inertia
EUR USD (1.2540) A €130 billion growth pact, worth one per cent of eurozone GDP, was the highlight of the Rome summit. Germany and other creditor nations, however, continue to oppose sovereign bond buying by the pan-European rescue vehicles and German officials are even massaging downwards expectations for the end-of-the-month EU summit.
FX Market Technical Research
EUR/USD: Finds Support at 21-DMA. The euro sees a bear-cross in the daily stochastic study as the market slides to find support at the 21-day moving average of $1.2522, which meets a 50% retracement of the June rally at $1.2518.
Behavioral Finance: Daily Forex Outlook: A different kind of euro sell-off
EUR USD (1.2555) The general grumble among investors yesterday was that the scale of global economic deterioration was continuing to outpace that of the policy responses.
FX Market Technical Research
EUR/USD: Finds Support at 21-DMA. The euro sees a bear-cross in the daily stochastic study as the market slides to find support at the 21-day moving average of $1.2522, which meets a 50% retracement of the June rally at $1.2518.
Behavioral Finance: Daily Forex Outlook: Is the Fed vying for unorthodox measures?
EUR USD (1.2675) Irrespective of the ultimate impact of the measure, it was crucial for the Fed to extend Operation Twist to enjoy the continued confidence of the markets.
EURJPY – today’s chart to watch
EURJPY tried to break higher yesterday on the back of the FOMC, but can it carry through or will it reverse back into the range and head back lower on ongoing EU uncertainty?
FOMC kneejerk reaction reverses course
The knee-jerk reaction to the Fed’s extension of Operation Twist to the end of 2012 quickly yielded back to the risk-on and a further sell-off in bonds, which could mean the most pressure will be on the JPY from here.
Behavioral Finance: Daily Forex Outlook: Reversal of transfers sought in the eurozone
EUR USD (1.2675) Reports suggesting that the Italian PM has floated the idea of using the EFSF to purchase the peripheral bonds were followed quickly by those suggesting Germany’s non-committal approach to the idea.
Technical Analysis
Key-day reversals were yesterday printed in many major markets, indicating that the post Greek election fast faded. EURUSD & Co. ought to build up renewed downside (USD bullish) momentum, perhaps with the aussie being a tad more resilient as it looks like AUDUSD must test 1.0170\1.0250 before turning south again.
Behavioral Finance: Daily Forex Outlook : Post-election EU policy response in focus
EUR USD (1.2700) Sunday initially saw the euro dropping below $1.26 when exit polls in Greece showed anti-bailout Left radicals running neck-to-neck with pro-bailout parties.
Behavioral Finance: Daily Forex Outlook: EU policymaking at a crossroads
EUR USD (1.2575) The auction that saw Italy paying dearly for one-year borrowing reflects investors’ fears that the queue for bailouts and rescues is about to get longer.