Forex Morning Briefing

Forex Morning Briefing

Forex Morning Briefing


Commentary: Nothing New. PE

US Dollar (.DXY) Index 93.87 trades around the 93.4-93.8 during the last 3 sessions.

Note: Tuesday, the US CPI met expectations did not have a Bearish impact on USD. The FOMC meet Wednesday will be important, as any sign of Dovishness could push .DXY down to 92.8-93.0.

EUR (Euro) at 1.1747 has not moved to 1.1875-1.1900 yet.

Note: The FOMC meet Wednesday could impact the Euro, and the ECB meeting Thursday may be more important, an expecting ECB’s Hawkishness to take EUR to 1.19.

USD/JPY at 110.60 looks Bullish to 111.0-111.5 in here.

Note: Expectation of FOMC’s rate hike and the Bank of Japan’s maintenance of status quo in this week might be taking the pair up. Medium term, USD/JPY could turn Bearish after testing to 111.0-111.5.

EUR/JPY at 129.93 is still trading around 129.5-130.0. The possibility of EUR moving above 1.18 and USD/JPY touching 111 implies that the pair could test higher to 131 yet this week.

Sterling (GBP) at 1.3363 looks Bearish to 1.33-1.32 now. On the Southside, 1.31 is a Key mark, a clear break there may be Bearish medium term.

Stay tuned…

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