OctaFX | OctaFX Forex Broker
Open trading account

Forex: EUR/JPY – coming off to 131.80 support

FXstreet.com (London) - The pair recovered to 132.20 pre US data but has since declined back below the figure to find support at 131.80.

Mirroring USD/JPY in the price action, the EUR/JPY enjoyed a bought of less than positive US data releases while traders noted last nights upbeat-statistics from Japan. The GDP readings are showing that things are improving there. This has come in an environment where the market is ultra long of the USD. Any bulls that had been hoping for US CPI/Claims data to be supportive of the dollar might be thinking twice for a move towards and a close above 103.00 by the end of this trading week.

The market had been expecting to play the rages in the EUR pre data this afternoon, which did exactly that, but now the figure 1.2900 has been breached. Resistance comes into play at 1.2930 which would cap any further upside in the EUR/JPY for now. EURJPY has seen a high of 132.20 post US data.

25. Forex Flash: Appetite towards fund-flows salient post 2007-crisis – Goldman Sachs

Retail appetite for fixed income assets—and retail aversion towards equity—has been one of the most salient post-crisis developments. The mutual fund complex is probably the area where the retail preference for fixed income manifests itself most visibly. According to the Economics Research Team at Goldman Sachs, “The ownership shares of mutual funds and exchange-traded funds (ETFs) in the corporate and municipal bond markets and more specifically, the contrast between fixed income and equity markets is striking.” The ownership share of mutual funds in the investment grade corporate bond market has almost doubled since 2008, going from 9% to 18% as of the end of last year, whereas the ownership share of households and mutual funds in the equity market has remained roughly flat.
Read more Previous

Forex Flash: Forex Flash: CAD outlook – TD Securities

Research team at TD Securities highlight the technical outlook for CAD.
Read more Next
Start livechat