March 20: Asian session

20 March, 2013

EUR/USD sits at $1.2870 following the Tuesday’s 100-pips drop. Yesterday the Cypriot parliament rejected the tax-deposit plan. Calming announcements of the EU leaders about the uniqueness of the Cypriot case don’t help to reduce uncertainty. Cypriot parliamentarian Mavrides said today that Cyprus might leave the euro zone if remaining 6B euro can’t be raised. Euro zone will release German PPI (7:00 GMT) and current account (9:00 GMT). Germany holds a 10-year bond auction today.

USD/JPY is little changed around 95.00. Japanese financial markets are closed today for a national holiday. USD weakened from yesterday’s high at 95.75 ahead of the Fed’s meeting results amid speculation policy makers will decide to keep buying bonds to support economic growth.

The MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, having earlier carved out a fresh 2013 low. AUD/USD is up by about 10 pips from $1.0366. NZD/USD slid from levels around $0.8250 to $0.8220. New Zealand’s trade deficit in Q4 was worse than expected.

GBP/USD holds below $1.5100. Watch the BoE meeting minutes and employment data at 9:30 GMT. USD/CHF has stalled below $0.9480. USD/CAD trades at 1.0270.


Source link  
Will EUR/JPY resume the downtrend?

EUR/JPY spent more than a month correcting up after its spike down at the start of January. It seems that the time the downtrend finally resumes is getting nearer...

How the Fed may affect the USD?

As you may know, the Federal Reserve will announce its official rate and publish its monetary policy statement today at 21:00 MT time. The release...

Will oil outperform its triumph?

During 2018, the world was waiting for oil at $100. However, the oil market ended the year at lows of 2017. Will 2019 bring the momentum to oil prices...


Which assets will outperform in 2019?

The market sentiment may be positive or negative. When investors have risk appetite, they choose higher-yielding currencies like the AUD...

Bulls going to deliver wave 5

There's a possible triangle pattern in wave 4. So, if the price fixates above 6/8 MM Level, bulls are likely going to deliver wave 5. In this case, we should...

Market going to climb even higher

The last "Flag" pattern has been broken, so the price is rising. The main intraday target is the nearest resistance at 1.3345 - 1.3374. If a pullback...


Euro area's PMI

The euro area will release manufacturing and services PMI at 10:00 MT time on August 22. PMI or Purchasing Managers Indexes come from surveys of purchasing managers in manufacturing...

RBA meeting will set the way for AUD

The monetary policy of the Reserve Bank of Australia (RBA) is the key driver of the Australian dollar. The RBA will announce the results of its August meeting...

German IFO business climate

German Ifo business climate will be out at 11:00 MT time on July 25. Germany is the leading economy in the eurozone, so significant changes...

  


Share it on:   or