Daily Forex News

While the Greenback was the strong performer of last week, the Japanese yen took that title for this week. Although we did see a general gain in the USD, it was no match for the JPY which was boosted from this week’s risk aversion.

Both market expectations and economic development evolved recently point to an unchanged monetary policy stance at BoC’s March meeting. The central bank will most likely announce to keep its policy rate at 0.25% and keep the statement that ‘conditional on the outlook for inflation, the target overnight rate can be…

While RBA’ tightening cycle , which began late last year, will continue in 2010, more rate hikes will be delivered in 2H10 as policymakers need to gauge how previous hikes feed through to the economy. We expect the central bank will keep its cash rate unchanged at 3.75% in March….

EUR/USD continued to stay in established range of 1.3443 last week as consolidations continued. Some more sideway trading could be seen initially this week and stronger recovery cannot be ruled out. But still, we’d expect upside to be limited by 1.3838/52 resistance zone and bring fall resumption. Break of 1.3443…

USD/JPY sharp fall from 92.14 last week indicates that rebound from 88.57 is completed and revived the case that whole decline from 93.74 is still in progress. Intraday bias remains on the downside this week for 88.57first. Break will confirm this case and target 87.36 support next. Break there will…

GBP/USD’s fall resumed last week and dived to as low as 1.5151 so far. Initial bias remains on the downside this week and further decline should be seen to 100% projection at 1.4892, which is close to 61.8% retracement of 1.3053 to 1.7043 at 1.4855. On the upside, above 1.5318…

USD/CHF struggled to stay above medium term trend line again last week and continued to consolidate in range below 1.0897. More sideway trading might be seen initially this week and a deeper fall cannot be ruled out. Nevertheless, we’d expect downside to be contained by 1.0608 cluster support (38.2% retracement…

Despite dropping to 0.8802, AUD/USD was held above 0.8785 support and rebounded strongly. The development left fall from 0.9070 in three wave corrective structure and thus argue that rise from 0.8577 is not over. Intraday bias is neutral this week and we’d wait for a break of 0.9070 resistance for…

USD/CAD’s strong rally last week suggests that fall form 1.0779 is completed at 1.0369 already. Nevertheless, such rise was limited at 1.0679 and the pair retreated. Initial bias is neutral this week and we’d expect some sideway consolidations first. Strong support is anticipated at around 1.0509 to contain downside of…

Despite a brief recovery, EUR/CHF continues to stay in tight range last week and was limited below a falling 4 hours 55 EMA. More downside would be in favor as long as 1.4697 minor resistance holds and would expect EUR/CHF to crawl towards 1.4557 support next. On the upside above…