Tag Archives: S&P
Daily FX Wrap and Strategy
The NZD/USD’s probe back into the 80s continued overnight, fuelled by recovering risk appetite and improving sentiment towards the Chinese economy.
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,
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.
The Global Macro Pulse
S&P futures are off slightly after a lacklustre New York trading session. The Nikkei has fallen 1.3%, but the Kospi is up 0.4%,
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.
$/JPY – bullish triangle exit. NOK/SEK reaction peaked
EUR/USD: Even though a new low wasn’t printed yesterday the market at least closed at the lowest level since the turn.