Daily Forex News

EUR/GBP’s fall extended to as low as 0.8650 last week before recovering. From a short term angle, some more recovery might be seen initially this week. But upside should be limited below 0.8855 support turned resistance and bring fall resumption. Below 0.8686 minor support will flip intraday bias back to…

EUR/CHF dropped further to as low as 1.4673 last week but continued to lose downside momentum and recovered. Touching of 1.4740 minor resistance turns intraday bias neutral and some consolidations could be seen in initially this week. Nevertheless, another fall is still expected as long as 1.4808 resistance holds. Below…

EUR/JPY’s fall fall from 134.36 extended further last week and the break of 126.88 support confirms that whole decline from 138.47 has resumed. Initial bias remains on the downside this week and further fall should be seen to 124.35 support and then 100% projection of 138.47 to 126.88 from 134.36…

GBP/JPY’s sharp fall last week and break of 145.96 support suggests that choppy rise from 139.26 has completed completed at 150.68 already. Also, consolidation pattern from 139.69 should have also finished too. Initial bias will remain on the downside this week for 141.99 support first. Break will affirm this bearish…

It was a light week of U.S. economic data, but there was plenty of news to rattle financial markets. In just two days, U.S. equity indices retraced a month’s worth of gains. This owed to a combination of concerns that global growth will be impacted as China attempts to cool…

After a strong start to the week, sterling gave up much of last week’s gains versus the dollar. Against the other G-10 currencies, however, sterling outperformed, registering gains of 2.5% versus the New Zealand dollar and 1.66% versus the Canadian dollar. EUR/GBP continued its descent, hitting a fivemonth low of…

The USD and the JPY were the strong performers this week. The Greenback is breaking out of its recent consolidation mode. Risk aversion kept the Japanese Yen strong as the preferred safe haven currency. Commodity currencies are subdued, coming off December strength as gold made record highs. The risk aversion…

In last week’s update we cautioned that risk was in retreat, and that more downside was likely to develop. This past week saw risky assets (stocks, commodities, and JPY-crosses) slide further as new Chinese lending restrictions undermined the outlook for the global recovery generally, and for commodities especially. Softer ZEW…

Dollar- and yen-related pairs are benefiting at the expense of European and commodity components thanks to freshly risk averse traders. China’s signal that it would enact curbs on lending and speculation about which emerging market nation would be the next to head for the policy exit only lessened appetite for…

The main US event next week is the FOMC meeting. In line with the market we expect no changes to policy measures. In the statement the growth and inflation sections will probably only see incremental changes. If anything, we believe that the assessment of housing could be downscaled a bit….