Pair
So far throughout the US session major pairs consolidated as a result of technical movements and also as today we witnessed a calm day on the U.S soil with a lack of data released.
Yet Dallas Federal Reserve’s President Richard Fisher told CNBC reporters earlier that a scale back for the Fed’s monthly $85 billion in bond purchases should be the key, as halting it would be “too violent for the market.”
Accordingly the euro is presently narrow trading on the four and one-hour charts as a result of the current technical movements sending in fact the EUR/USD pair to trade up around $1.2869 while recording the highest level of $1.2880 and lowest level of $1.2818, knowing that the pair may incline but slightly as mixed signs are seen throughout the four-hour and one-hour momentum indicators. ...
A calm start of the week with the absence of fundamentals from major economies, where correctional movements are dominating the scene amid some holidays at European banks, ahead of important economic events and data later in the week.
Starting with the star of the last two weeks which is the greenback as it soared 1.26% against a basket of major currencies last week, following a rise of 1.25% the week before, it corrected some of its gains to drop to 84.18 after hitting a low of 84.04 from a high of 84.40.
The dollar’s recent advance is a net result of the improvement seen in the U.S. data which suggested the Fed may scale back stimulus earlier than envisaged, giving an uplift to the dollar as it will avoid oversupply.
Investors will focus this week on Federal Reserve Chairman ...
The dollar gave up some of its recent gains against other major currencies on Monday amid bets the Federal Reserve will slow its stimulus program on signs the world’s biggest economy is accelerating.
Dallas Federal Reserve’s President Richard Fisher told CNBC reporters earlier that a scale back for the Fed’s monthly $85 billion in bond purchases should be the key, as halting it would be “too violent for the market.”
Fishers comment came days after the Federal Reserve Bank of San Francisco’s President John Williams said that quickening economic growth and an improving labor market may prompt the central bank to start pulling its $85 billion of monthly bond purchases by summer.
The U.S. dollar extended gains after Williams commented that quickening economic growth and gains in the labor ...
Forex News and Events:
While North Korea fired a short range missile into the sea off the eastern coast of the Korean peninsula which followed three similar launches on Saturday demand for risk-on traders were high. Global stock markets continued to rally to new highs as Asia regional indices start the week off on the solid footing boosted by signs of an improving global growth outlook. For this week markets will be watching events in the US, Japan and China for hints on the direction of monetary policy and indication of global growth.
Markets Anticipate Fed “tapering”
Currently the recent economic data (including stronger than expected GDP) from the US has been supportive of the Fed easing policy. This will put the focus on the Chairman Bernanke’s testimony in Congress and the FOMC ...
Fundamental Analysis
EUR
"The EBA stress tests were really dependent on whether the ECB was ready to do its own asset quality review in the second half of the year."
- Andrew Stimpson, a London-based banking analyst at Keefe Bruyette & Woods Ltd
As the European Central Bank is set to take centre stage as the region’s chief banking supervisor, banks across the Eurozone are going to face tough regulatory scrutiny of their balance sheets.
Read more: FULL REPORT - Fundamental Analysis
Technical Analysis
EUR/USD
"It’s the U.S. economy that’s in the vanguard, and that explains why the dollar continues to advance. The Federal Reserve might exit its quantitative easing sooner than later, while the BoE is going to do more QE and the ECB is favored to do more."
- Miller Tabak & Co. (based on ...
Morning Briefing : Minister's comments spur yen move at open
What's new :
Asia: Equity indices in the positive helped by improved monthly economic report
Japan: Economy Minister’s comments lead Yen to some correction
Overnight rates and Indices:
EUR/USD 1.2817 1.2853 0.07 %
USD/CHF 0.9681 0.9738 0.33 %
GBP/USD 1.5164 1.5207 0.17 %
USD/JPY 101.97 103.15 0.55 %
EUR/CHF 1.2440 1.24841 0.21 %
EUR/JPY 130.99 132.32 0.47 %
Dow Jones 15234.75 15357.40 0.79 %
Nasdaq 3005.25 3028.96 0.98 %
S&P 500 1652.45 1667.47 1.03 %
Nikkei 225 15245.80 15381.74 1.47 %
Shanghai 2281.90 2309.39 0.72 %
Gold spot 1338.43 1366.53 -0.89 %
Crude Oil 95.55 96.26 -0.36 %
Comments:
USD/JPY opens at 102. ...
On Friday, EUR declined 0.43% against the USD and closed at 1.2828, as dollar strengthened on talks of the Federal Reserve winding down its bond buying program.
In economic news, construction output in the Euro-zone continued to decline for the fifth consecutive month in March, leading to increased speculation that the recovery in the bloc may further deteriorate than expected. Construction output fell at a faster pace of 1.7% (MoM) in March, following a revised 0.3% drop recorded in the previous month. On a yearly basis, overall construction output plunged 7.9%, reversing last month’s 1.7% increase.
Meanwhile the greenback extended its gains on Friday, after the Reuters/Michigan consumer sentiment index in the US rose to a reading of 83.7 in May, from a reading of 76.4 recorded in the ...
Major currencies are trying to compensate their losses this week against dollar, where investors’ eyes are weighing American fed’s bank meeting minutes which may show its monetary policy theme.
USD/JYP pair started this week’s trades on downward price gap after recording its lowest levels in four years last week at 103.29, where the pair started today’s session at 102.91.
Japanese economy minister Akira Amari warns from further decline in the yen, adding that further slide in the yen may leave negative impact after the recent 21% drop during the previous six months.
Meanwhile, Japanese yen rose against the 16 major currencies the Japanese Economy Minister’s notes on the yen.
Australian dollar started today an upward correction trend against its counterpart American dollar after the ...
Japanese yen rose against the 16 major currency after comments by the Japanese Economy Minister Amari who notes that the continued decline in the yen may pose negative consequences for the nation’s economy and the standard of living of the citizens.
Where the Japanese yen rose by 1.1% before trading up 0.4% at 102.86 against the dollar in Tokyo, while the Japanese yen touched the 103.31 level against the dollar in the 17 th of May.
Meanwhile, Japanese yen declined by 20% over the previous six months, recording the worst performance among 10 currencies for developed countries.
USD/JPY pair recorded the highest at 102.89 and the lowest at 102.68