Sep 10: risk aversion declined

10 September, 2013

US dollar held a decline from yesterday versus most major counterparts amid prospects a Russian bid to get Syria to surrender its chemical weapons may avert a US military strike, damping demand for haven currencies.

EUR/USD is trading at session highs of $1.3265 and remains slightly below the Monday’s peak at $1.3280. France will publish industrial production data at 6:45 GMT (forecast: positive). GBP/USD eased from the yesterday’s 3-month high at $1.5732 to the $1.5700 mark. Cable soared as UK Chancellor of the Exchequer George Osborne said Britain’s economy “is turning a corner and is in the early stages of a recovery”.

USD/JPY is little changed, around 99.60. EUR/JPY rose to a 2-week high at 132.22 as minutes of the Bank of Japan’s meeting last month showed policy makers agreed that the effects of monetary easing are firmly taking hold. USD/CHF is little changed, around 0.9320 after it lost more than 60 pips yesterday.

AUD/USD rose to $0.9280. NZD/USD went up to $0.8060. Australian and New Zealand dollars extended a 2-day gain as Chinese industrial production increased by 10.4% (vs. 9.9% expected). The nation’s retail sales and fixed asset investment also demonstrated solid growth. USD/CAD is trading under pressure around the 3-week low of 1.0360. Loonie found support on record high Canada building permits in July.


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