20 September, 2013
The European session was relatively calm, as there were no major headlines and no key economic data releases. Most major G10 currencies have been consolidating going in to the weekend.
Euro was little changed against the dollar and is overbought although remains bullish. Key risk will be this weekend’s election in Germany, which is Europe’s largest economy. Meanwhile, Euro zone consumer confidence data are due later today, also important.
EURUSD was flat in the European session, trading around $1.3520.
The pressure on the dollar has eased since the Fed announcement on Wednesday not to taper. The greenback has retraced the post-Fed dip against the yen and the upside remains. Speeches by Federal Reserve policy makers today will be key risk to the dollar. St. Louis Fed President Bullard will be closely watched as he is due to speak in New York at around 1pm EST.
USDJPY has been range bound since the rally on Thursday after strong US data. The pair opened in Europe at 99.30 , supported at 99.20 and traded highs of 99.46. Going into the US session, the pair was moving higher. By mid-US session trading, the dollar may become volatile as Fed’s Bullard speaks.
The long-term outlook for this pair is to the upside since diverging monetary policies of the Fed and Bank of Japan will favour the dollar.
The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...
The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...
The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625
The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...
The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...
The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...
The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...
The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...
The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...
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