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Canadian Dollar Off Early Lows Vs Euro and U.S. Dollar The Canadian dollar trimmed its early losses against the euro and the U.S. dollar in pre-European trading on Wednesday. The loonie recovered to 1.4731 against the euro and 1.3418 against the greenback, from its early low of 1...
EUR/USD: Sell Rallies Towards 1.12 – Westpac Strategists at Westpac have recommended selling the pair on rallies towards the 1.1200 area. Key Quotes “EUR/USD materially overvalued against 2yr Bund-Tsy spreads, the latter suggesting 1.05/06 is more "reasonable". “That said a run at 1...
EUR/USD Forecast: Cautious Ahead of ECB – Commerzbank and UOB EUR/USD has retreated to the 1.0970 region after being rejected once again from the critical area around 1.1050, where sits the key 200-day sma, all ahead of tomorrow’s ECB meeting...
EUR/JPY Deflates to Lows Near 123.50 The now offered tone around the European currency is dragging EUR/JPY lower on Wednesday, testing the area of daily lows in the mid-123.00s...
On Wednesday, two central banks of countries, currencies of which are traded in Forex, will hold meetings and announce their decisions on monetary policy. These are the Bank of Canada and the Reserve Bank of New Zealand. What to expect from these events...
AUD: Consumer Sentiment Eased Back - TDS Research Team at TDS, notes that the Australia’s March consumer sentiment eased back to 99.1 after the inexplicable +4.2% to 101.3 in Feb. Key Quotes “A small fall was not a surprise, and 99.1 remains within the range of recent months...
AUD: Failing Fundamental Tests of Strength - ANZ Daniel Been, Senior FX Strategist at ANZ, suggests that the AUD has remained remarkably resilient which has driven the AUD back into territory that suggests it is overvalued...
USD/JPY Bulls Rescued by Stronger USD, Recovers to 112.70 Having bottomed out near 112.40 region, the USD/JPY pair almost reversed the entire slide seen post-Tokyo open and now aims to test 113 handle. USD/JPY finds support near Tuesday’s low The major once again attempts recovery from 112...
European Economics Preview: U.K. Industrial Output Data Due Industrial production from the U.K. is due on Wednesday headlining a light day for the European economic news. At 1.00 am ET, Statistics Estonia is slated to publish external trade data for January. The trade deficit widened to EUR 160...
FXWIREPRO: Risk Aversion Weighs on USD/JPY, Downside Likely to Test 112.30 Levels Worse-than expected Chinese trade figures and oil price sell-off continues to weigh on market sentiment. USD/JPY largely range-bound in the Asian session, after two consecutive day's of losses...
FXWIREPRO: NZD/USD Edges Lower from Session Highs at 0.6750, Good to Sell Rallies Kiwi unable to extend gains beyond 0.6819 and is extending downside for the third consecutive session...
FXWIREPRO: New Zealand Dollar Continues to Fall Against Aussie Ahead of Cash Rate Decision Pair is currently trading at 1.1045 levels. It made intraday high at 1.1046 and low at 1.0993 levels. Intraday bias remains bullish for the moment. A daily close above key resistance at 1...
Euro Falls Against Majors The euro weakened against the other major currencies in the Asian session on Wednesday. The euro fell to a 6-day low of 123.44 against the yen and a 2-day low of 1.0972 against the U.S. dollar, from yesterday's closing quotes of 124.02 and 1.1009, respectively...
U.S. Dollar Advances Against Most Majors The U.S. dollar strengthened against most major currencies in the Asian session on Wednesday. The U.S. dollar rose to 2-day highs of 1.0974 against the euro and 0.9979 against the Swiss franc, from yesterday's closing quotes of 1.1009 and 0...
Yen Rises Against Majors The Japanese yen strengthened against the other major currencies in the Asian session on Wednesday. The yen rose to a 1-week high of 159.51 against the pound and a 6-day high of 123.44 against the euro, from yesterday's closing quotes of 160.05 and 124.02, respectively...
China: 5-Year Plan – Rabobank Michael Every, Head of Financial Markets Research at Rabobank, notes that the China’s National People’s Congress (NPC) met from March 5-6 to launch the country’s 13th 5-Year Plan which was a platform to show the thrust of future policy direction, and on that front th...
Has the USD Peaked? - ANZ Research Team at ANZ, suggests that at the very least, further USD strength is likely to be substantially less linear than we have seen to date. Key Quotes “In fact, thinking about currency markets from a USD framework has probably become unhelpful...
EUR/USD Heavy, Breaches 50-DMA Support Near 1.0980 The offered tone around the EUR picked-up pace post-China open, now sending EUR/USD further below 50-Dma support located at 1.0982. EUR/USD fails once again above 1.1000 Currently, EUR/USD drops -0.33% to fresh session lows of 1...
Asian Stocks Dive for 2nd Day on Oil Sell-off The Asian stocks markets crumbled for the second straight session this Wednesday after risk-off sentiment remained in full swing in response to the overnight sell-off in the oil prices, while nervousness ahead of China’s inflation report also weighs d...
