Tag Archives: USD/ZAR
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.
The Global Macro Pulse
The dollar has weakened slightly across the board against EM Asia FX, with the exception of the politics burdened THB. USDIDR and USDINR have fallen about 0.3% and
The Global Macro Pulse
USDJPY rose to an intra-morning high of 100.52 before paring back to 100.37. AUDUSD dipped to 0.9308, continuing weakness in New York, driven by the weaker-than-expected HSBC flash PMI for China.
Weaker CAD, AUD & SEK looks increasingly likely.
EUR/USD: The move higher hasn’t changed in shape, nor has itchanged direction. It looks correctional and as such it is stillthought to end somewhere near 1.3550.
New Financial Forecasts
Norway: We expect Norges Bank to cut rates by two times 25bp next summer. There will however not be any such signals at the upcoming MPC meeting in December.
The Global Macro Pulse
Overnight Price Action Most equity markets are down in Asia today. S&P futures are off 0.2%, the Nikkei has fallen 0.6%, the HSI is off 0.7%, Kospi is down 0.4%, and
Still a € & $ waiting game. €/SEK & €/NOK upside risk
EUR/USD: Also yesterday the market continued to consolidate,digesting the impulsive decline last week. With a minimumcorrection target, 1.3535,
US Morning Update
Major Overnight Headlines European Oct. manufacturing PMIs mixed; UK, Denmark, and Sweden miss, Norway beats, Greece still sub-50
Continued $ recovery + weakening SEK = buy $/SEK
EUR/USD: Having passed FOMC and the 1.3733 mid body point thedoor has been opened to lower levels. We will next focus atthe Oct 3 peak, 1.3647,
EMEAFX Commentary
PLN FX: EURPLN very subdued in spite of the concerns in the market elsewhere. We tried a few timesto break the 200 day ma (4.20) yesterday without success,
JPY, CAD, SEK & EM (ZAR & TRY weakness)
EUR/USD: There is a near-term tilt to the downside which would grow in strength on a move below 1.3538. But so far sellers lack the impetus to exit lower in line with the most recent benchmark candle.
The dollar is fighting back and so is the yen & the krona
EUR/USD: The failed attempt above the Sep high has added a potentially bearish “UpThrust” to consider. A “Lower Range Extension” today (a lower break out of the opening hour range)