Foreign Exchange
Japan In Doubt Over Currency Move
Japan In Doubt Over Currency Move BOJ Discussing Potential Impact of Rise in Long-Term Rates Amid concern over a sudden rise in long-term interest rates, the Bank of Japan will discuss the related risks and potential effect on its 2% inflation target at its 2-day policy meeting next week, The Nikkei reported in its Friday [...]
Japan Targets China, ASEAN in Currency War
Japan Targets China, ASEAN in Currency War The depreciation in the Japanese yen has greatly affected China’s exports to the country, although Japan’s quantitative easing measures are conducive to its domestic market recovery, the Ministry of Commerce said on Thursday. China’s currency the yuan strengthened 6.1 percent against the yen in April, while China’s exports [...]
DXY Rallies After ZEW Survey
DXY Rallies After ZEW Survey USD, GBP, EUR, JPY 10-Yr: +02/32..1.917%.. USD/JPY: 101.96.. EUR/USD: 1.2978 The US Dollar Index spent most of the overnight sessions attempting to hold the 83 mark. It was successful and now has launched to test 83.40. Helping drive the move was a weaker than expected ZEW Survey out of Germany [...]
AUD Appears Fragile Ahead of Budget
AUD Appears Fragile Ahead of Budget The Australian Dollar traded just below parity with the USD Tuesday ahead of the government’s 2013-14 budget which is expected to confirm a sharp deterioration in finances. The Australian Dollar was trading at US$0.9986–down from US$0.9994 late Monday. It traded at a fresh 11-month low in New York of [...]
Forex, EUR/USD Tapping at Range Low Under 1.30
Forex, EUR/USD Tapping at Range Low Under 1.30 Range low: EUR/USD traded sideways since an early April upswing, and was supported just below 1.30, challenging 1.32 a few times, once breaking above that mark. To the downside, there was a fall to 1.2956, at the end last week’s trading, the EUR/USD cracked 1.30 and is [...]
USD Has 2nd Straight Day of Strength
USD Has 2nd Straight Day of Strength EUR, USD, JPY DJIA +35.87 at 15118.49 , NAS +27.41 at 3436.58 , S&P 500 +7.03 at 1633.7 In the foreign exchange market Friday, the US Dollar Index has fallen from its best levels of the session, but still holds solid gains near 83.10. Early buying ran the [...]
Australian Dollar Falls Below $1.00
Australian Dollar Falls Below $1.00 The Australian dollar plunged to its lowest level in more than 10 months on concern about the outlook for the country’s economy. The fall Friday extended the Australian dollar’s 3.2% fall against the USD over the past week, outpacing even the fall seen in the Japanese Yen, which slipped below [...]
AUD/USD to Test Parity
AUD/USD to Test Parity AUD/USD intraday: the downside prevails. Pivot: 1.0095 Our preference: Short positions below 1.0095 with targets @ 0.997 & 0.992 in extension. Alternative scenario: Above 1.0095 look for further upside with 1.015 & 1.0195 as targets. Comment: the break below 1.0095 is a negative signal that has opened a path to 0.997. [...]
USD/CAD to Bounce
USD/CAD to Bounce USD/CAD intraday: bullish bias above 1.006. Pivot: 1.006 Our preference: Long positions above 1.006 with targets @ 1.01 & 1.0115 in extension. Alternative scenario: Below 1.006 look for further downside with 1.004 & 1.0015 as targets. Comment: the break above 1.006 is a positive signal that has opened a path to 1.01. [...]
GBP/USD May Test 1.53
GBP/USD May Test 1.53 GBP/USD intraday: under pressure. Pivot: 1.5455 Our preference: Short positions below 1.5455 with targets @ 1.537 & 1.5335 in extension. Alternative scenario: Above 1.5455 look for further upside with 1.549 & 1.5515 as targets. Comment: the pair stands below its new resistance and remains on the downside, the RSI is badly [...]
EUR/USD Headed Lower
EUR/USD Headed Lower EUR/USD intraday: under pressure. Pivot: 1.305 Our preference: Short positions below 1.305 with targets @ 1.295 & 1.2915 in extension. Alternative scenario: Above 1.305 look for further upside with 1.308 & 1.311 as targets. Comment: the pair has validated a bearish flag and should face further weakness as the RSI is badly [...]
Malaysia maintains interest rate at 3%
Malaysia maintains interest rate at 3% Malaysian central bank decided to keep the interest rate at 3% Thursday, saying the current stance of monetary policy is “appropriate given the outlook for inflation and growth.” The Monetary Policy Committee (MPC) decided to maintain the Overnight Policy Rate (OPR) at 3%, the central bank said in a [...]
USD/CHF Headed to 93
USD/CHF intraday: the downside prevails. Pivot: 0.9375. Our preference: SHORT positions below 0.9375 with 0.933 & 0.9305 in sight. Alternative scenario: The upside penetration of 0.9375 will call for 0.94 & 0.9435. Comment: the pair has broken below a rising trend line and remains under pressure. Opinion published is an intraday view. Green Lines Represent [...]
AUD/USD Improving
AUD/USD intraday: the upside prevails. Pivot: 1.019 Our preference: Long positions above 1.019 with targets @ 1.0255 & 1.029 in extension. Alternative scenario: Below 1.019 look for further downside with 1.015 & 1.011 as targets. Comment: the next resistances are at 1.0255 and then at 1.029. Opinion published is an intraday view. Green Lines Represent [...]
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