The traditional carry trade - the NZD/JPY and AUD/JPY - has kicked in again in the last couple of weeks, in line with another surge in global share prices and the recent RBA tightening. Even NZ news added to the pressure with inflation running faster than expected (but not high enough to concern the RBNZ). […]
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Sterling was the biggest winner last week on the back of drastic turn in speculations on expansion of quantitative easing campaign from Bank of England. Dollar, on the other hand, dived to new 14 month low after risk appetite as DOW closed above 10000 level for two consecutive days before…
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EUR/USD rose further to as high as 1.4965 but turned sideway since then. Initial bias remains neutral this seek and some more consolidation could still be seen. But after all, short term outlook will remain bullish as long as 1.4671 support holds. Break of 1.4965 will bring rally resumption to…
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USD/JPY’s choppy rebound from 88.00 extended further to as high as 91.31 last week. Initial bias remains on the upside, and further rise might be seen to 38.2% retracement of 97.77 to 88.00 at 91.73 first and possibly further to 92.52 resistance. But after all, recent down trend is still…
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GBP/USD rebounded strongly after dipping to 1.5706 and reached as high as 1.6398. Initial bias remains mildly on the upside this week and further rise could be seen to falling trend line resistance at 1.6485. Nevertheless, upside should be limited there and bring pull back. On the downside, below 1.6212…
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