May 19th, 2012 | Comments(0)
USDCHF`s upward movement from 0.8931 extends to as high as 0.9500. Another rise to test 0.9594 previous high resistance would likely be seen next week, a break above this level will indicate that the longer term uptrend from 0.7067 (Aug 9, 2011 low) has resumed, then further rise towards 1.0000 could be seen. Support is at 0.9250, only break below this level could bring price back to 0.8500 zone.
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May 19th, 2012 | Comments(0)
USDJPY`s downward movement extends to as low as 78.99. Resistance is now at the downtrend line on daily chart, as long as the trend line resistance holds, downtrend could be expected to continue and next target would be at 78.00 area, only a clear break above the trend line could signal completion of the downtrend.
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May 18th, 2012 | Comments(0)
***Fixed Income/Commodities/Forex***
- AUD/USD: Extending decline below $0.9870; 6-month lows
- NZD/USD: Extending decline to $0.76; 6-month lows
- EUR/USD: Extending decline below $1.2666; fresh 4-month low
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May 18th, 2012 | Comments(0)
AUD/USD is currently selling-off lower what it did not during the NY session, last at fresh 2012 lows 0.9861, along with plummeting local share markets, Kospi erasing its 2012 gains, Nikkei down -2.24%, and Brent oil at fresh 2012 lows as well. Aussie had been outperforming other majors right behind Yen and USD for the time being, but now with Sydney market open, seems like its time has come.
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May 18th, 2012 | Comments(0)
USD/JPY is consolidating recent loses in early Asia-Pacific trading, limited between 79.24 and 79.38, last quoted near the top of the range at 79.35 vs. 79.25 late Thursday.
The pair fell over 100 pips to as low as 79.13 overnight, finding support in the 61.8% retracement of the 76.01/84.17 advance. The decline came on the back of heavy risk aversion in financial markets, as US 10y yields fell to record lows, stocks on Wall Street closed in red and gold rose.
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May 17th, 2012 | Comments(0)
Eurozone bank worries are sending the euro lower today, along with rises to funding costs. Uncertainties about what’s next for Greece and for the eurozone remains, and that is weighing on the euro in Forex trading right now.
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May 17th, 2012 | Comments(0)
The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.5860 suggesting a rebound. However, a break through this level will trigger a decline to the lower limit – 1.5020.
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May 16th, 2012 | Comments(0)
***Looking Ahead***
- 11:30 (BR) Brazil Central Bank weekly currency flows
- 12:00 (US) World Bank President Zoellick
- 12:30 (US) Fed`s Bullard speaks on US Economy in Louisville, Kentucky
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May 16th, 2012 | Comments(0)
WARSAW-IMF SAYS UPHOLDS POLAND`S 2012 GDP GROWTH FORECAST AT 2.6 PCT, SEES FISCAL DEFICIT AT 3.1 PCT/GDP IN 2012
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