NZD/JPY halts the punishment above 76.50

FXstreet.com (Barcelona) – The NZD/JPY foreign exchange cross rate is last quoted at 76.64 bids near session lows, but higher from late NY session fresh 2-week lows printed at 76.50 following FOMC minutes mostly on the back of Kiwi weakness. NZD/JPY nearing key support The NZD/JPY cross is down -2.9% for the week so far […]

EUR/USD slips lower away from resistance. Action inconclusive, though.

FXstreet.com (Barcelona) – The EUR/USD fluctuated wildly Wednesday but ended up on the lows of the session – highlighting the Dollar’s strength and the belief that “tapering” will not be delayed much further. EUR/USD pushed lower by Dollar strength / rising Treasury yields After the release of the FOMC minutes, traders pushed the EUR/USD to […]

AUD/USD breaks below 0.90 ahead of domestic data

FXstreet.com (Barcelona) – The AUD/USD foreign exchange rate is last trading at 0.8975 off recent fresh 2-week lows at 0.8960 printed following FOMC minutes, and ahead of Australian CB leading index at 00:00 GMT and more importantly China HSBC flash manufacturing PMI at 01:45 GMT. AUD/USD in danger of becoming very bearish According to FX […]

The DXY finishes near highs of the day post FOMC minutes

FXstreet.com (Barcelona) – After several intraday swings, the DXY ramped up into the close to finish near the highs of the session. Traders landed on higher yields / higher DXY as the likely result of future Fed actions. DXY faces make or break time with news flow ready to ramp up Apparently, the already-stale information […]

Flash: EUR/AUD could retrace as EUR struggles surface – Westpac

FXstreet.com (New York) – Global FX Strategist Sean Callow at Westpac analyzes the multi-week outlook of the EUR/AUD. Key quotes “The EUR momentum should be maintained near-term given better Eurozone data and the ECB‟s current policy pause. However, after testing the EUR/AUD 1.5000 area, we expect the euro’s struggles to return, with scope for 1.43 […]

Flash: Japan's tax debate uncertainty puts downside pressure on USD/JPY – Nomura

FXstreet.com (Barcelona) – According to Yujiro Goto, FX Strategist at Nomura, uncertainty about the tax hike debate may still be present for the next few weeks, putting downside pressure on USDJPY. Key Quotes “We still expect the government to implement the tax hike as scheduled, and the second estimate of Q2 GDP, which will be […]

AUD/CAD hovering above 0.9400 despite Aussie weakness

FXstreet.com (Barcelona) – The AUD/CAD foreign exchange cross rate is last quoted near session highs at 0.9413 bids, off recent session lows at 0.9386, down -0.82% so far for the week mostly on Aussie weakness, and about flat from previous Asia-Pacific open yesterday. AUD/CAD rebound from below 0.92 has stalled “AUD/CAD has chopped around the […]

EUR/JPY still capped below 131.00

FXstreet.com (Barcelona) – The EUR/JPY foreign exchange cross rate is currently trading at 130.50, off recent session lows at 130.25, about flat since previous Asia-Pacific open, despite having had FOMC minutes in between. EUR/JPY reflects lack of direction “Quite messy picture for the EUR/JPY,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The hourly chart […]

Flash: EUR/USD maintains bearish view – TD Securities

FXstreet.com (New York) – The TD Securities Team analyzes the monthly outlook of the EUR/USD. Key quotes “The rise in EURUSD stalled near key resistance at 1.3400, and while fundamentally our outlook for the US v. the EZ suggest these levels are rich, the narrowing of Eurozone-US short term spreads has continued to be an […]

Gold slides at end of day after FOMC minutes boosted Treasury yields

FXstreet.com (Barcelona) – Gold dropped, rallied and then dropped again after the release of the FOMC minutes and finished slightly lower for the session. It still sports a net bullish short-term chart, though. Gold acted as it should given the lack of clarity in the FOMC minutes Traders were hoping for clear direction from the […]

Flash: No concrete signal for a September taper – Westpac

FXstreet.com (Barcelona) – Below are the key takeaways from Westpac Economists on the US FOMC July 30-31 meeting minutes. Key Quotes “No concrete signal for a September taper though by the same token, no one calling for a Sep start will be dissuaded by the minutes.” “Strongest line in the minutes, “almost all participants confirmed” […]

EUR/USD, stable at 1.3350 zone

FXstreet.com (Chicago) – EUR/USD continues trading around 1.3350 zone after swinging back and forth on impulsive market reaction post FOMC minutes. Manufacturing Data and Jackson Hole Symposium Europe is releasing manufacturing data later today along sales and PMIs due in Italy, Germany and France. In the US, the Jackson Hole Symposium starts on Thursday, gathering […]

Flash: USD/JPY broad uptrend forming as JPY shorts build – ANZ

FXstreet.com (New York) – Despite appearing to be frustratingly range bound, recent price action actually underscores the previously stated bias to build JPY shorts into USD dips, suggests Tim Riddell, Head of Global Markets Research at ANZ. Key quotes “An uncomfortable slide to 95.80 belies the potential that the 96.75-97.25 area is actually forming a […]

FOMC offers little insight on tapering initiative – economy still needs support?

FXstreet.com (New York) – The past month has been a tug of war between two prevailing consensuses – on one hand Fed Reserve officials see the writing on the wall and portend the near-term tapering of bond buying, whereas on the other hand others see the Fed preaching patience amidst a tepid economic recovery. However, […]

USD/JPY giving in; unable to maintain 97.70 zone

FXstreet.com (Chicago) – USD/JPY soared post FOMC minutes release but bears pressured sell off sending the pair down 0.12% within the past hour. Daily gains remain at 0.42% so far but uneven reactions across the markets indicate uncertainty among market participants. Critical Thinking? Wall Street recovered losses right after the FOMC minutes were made public […]

NZD/USD orchestrates fresh collapse to weekly lows

FXstreet.com (New York) – The NZD/USD foreign exchange rate collapsed in cataclysmic fashion after yesterdays FOMC minutes, now deeply entrenched in negative territory during Asian trading. Technically speaking, the NZD/USD is now operating at 0.7841, incurring fresh staunch of -1.72% thus far. Technically speaking, the NZD/USD has shattered virtually ever measure of support in its […]

GBP/USD erases daily gains; cracking down below 1.5660 zone

FXstreet.com (Chicago) – GBP/USD reached 1.5717 8-week highs to hit ceiling and retrace below 1.560 zone at the closing of the American trading session. The greenback strengthened as indicated by the USD index above 81.4000 momentarily, to eventually suffer a small retracement to 81.31 zone. Erased gains The pound accumulates 0.06% losses dropping 0.11% within […]

Wall Street closes down on choppy FOMC's Wednesday

FXstreet.com (San Francisco) – In a volatile session, the US stocks market closed down as investors were disappointed from the FOMC minutes as the release provided no clear signal on when the Fed will begin to taper its monthly bond-buying program. Stocks initially reacted down to session lows following the FOMC minutes, but the majors […]

USD/CAD, unstoppable? Peaks to 6-week highs

FXstreet.com (Chicago) – USD/CAD soared to 1.0482, 6-week highs, after the FOMC minutes release. Canadian stocks fell, dragging loonie down to mark 0.81% gains for the pair so far as the greenback continues strengthening. Impulsive assessment? The US stocks erased gains post FOMC minutes release but failed to maintain performance as they closed in negatives […]