Tag Archives: S&P
Cable still looks toppish. USD/JPY could correct lower. SEK comeback surprises.
EUR/USD: The U-turn wasn’t our first bet yesterday. We chose toneglect support at the 8day “Tenkan-Sen” as we thought thecandle formation should take precedence.
Bearish EUR/USD & GBP/USD prints, SEK looks exposed again & CAD weaker
EUR/USD: Yesterday’s candle adds confidence to a correctional phasepassed its peak. Exiting the lower end of the ascending55day moving average band would enhance a bearishstance.
Daily FX Wrap and Strategy
Reversing its trend from last week, the NZD was the strongest performing currency over the past 24 hours.
Signs of an exhausted €. CAD continues to weaken.
EUR/USD: Each and every day the market is coming closer and closerto the 1.3645 mid body (of the weekly falling benchmarkcandle key five weeks ago) resistance.
FX Daily
Market movers today * Focus will be on global PMIs. We expect the Spanish and Italian flash PMI manufacturing figures to increase and
GBP/USD & EUR/JPY at important levels and must be monitored
EUR/USD: There is not much for near-term bears to hinge their hopeson – yet. Cautious advance is still on and resistance in the1.3645\90 area may be scanned.
USD/JPY stays bid despite positioning and stretch. Cable targeting 1.6380
EUR/USD: The move higher is still deemed as short-term correctionaland a high for this move should be sought somewhere nearthe mid-1.36s.
FX Daily
Market movers today * Germany releases the first inflation data for November. The annual inflation rate (HICP) is expected to rise slightly to 1.4% (consensus 1.3%) from 1.2% in October.
FX Daily
Market movers today * US durable goods orders will give info on whether US investment spending will pick up soon.
Weaker SEK & CAD look likely. German & US bonds look healthier
EUR/USD: The drift higher is still on, prolonging the short-term correctional move, possibly towards the mid-body point of the bearish weekly candle ending Nov1 at 1.3645.