OctaFX | OctaFX Forex Broker
Open trading account

Forex: EUR/USD eyes 1.2880 as risk sharpens

FXstreet.com (Barcelona) - The shared currency continues its march north on Monday, propped up by the increasing risk appetite prevailing amongst investors and the unusual volatility due to the inactivity in Europe, as markets remain closed.

According to the COFER report, which shows the composition of the foreign exchange reserves, “Since 2009, the EUR’s share of global allocated reserve assets has declined as the ongoing Eurozone sovereign and economic crisis played out. The EUR’s share of global reserve assets has dropped from a little under 28% overall to a just under 24% now. Current holdings remain close to the lowest overall since late 2004”, commented Shaun Osborne, Analyst at TD Securities.

At the moment, the cross is up 0.42% at 1.2859 facing the next hurdle at 1.2888 (MA200d) followed by 1.2890 (highMar.26) and finally 1.2901 (MA10d).
On the flip side, a breakdown of 1.2751 (low Mar.27) would open the door to 1.2730 (low Nov.19) and finally 1.2680 (61.8% of 1.2042-1.3711).

Forex: USD/JPY breaks down 93.25

The US dollar is trading lower today against the Japanese yen with the USD/JPY falling around 70 pips in the American session from 93.85 to break down the 93.25 (previous intra-day low) to reach fresh lowest level since March 6th at 93.15.
Read more Previous

Forex Flash: Risk currencies on the defensive – UBS

Regarding risk currencies, there wasn't much optimism as all were net sold, though not in significant volume. According to Gareth Berry, a Research Analyst at UBS, “The uniformity of flow suggests that investors will more willing to head into Q2 on a relatively defensive stance, especially as reasons to be risk averse, be it Eurozone issues or weak US/EM data, probably exceeded expectations.”
Read more Next
Start livechat