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Forex: Comments from Weidmann reinvigorated EUR bears - FXWW

FXstreet.com (Barcelona) - After what looked like an impressive close above 1.3150 the previous day, EUR/USD was unable to achieve any follow through as comments from European Central Bank officials regarding current interest rates sent the pair tumbling. According to Sean Lee of FXWW: “The comments from Weidmann reinvigorated EUR bears but we are not in a market driven by interest rate plays so I do not expect this to have a lasting impact.”

He then went on to say, “The EUR/USD market is short and if we continue to see liquidation of EUR/Gold positions, then it will struggle to fall too much regardless of what happens to interest rates. Levels around 1.2950 are likely to attract short-covering whilst 1.3200 is shaping as decent resistance so play the edges of this range (although my bias remains bearish overall).”

Forex Flash: Japan portfolio flows to reveal if investors stepped up – NAB

According to NAB analysts: “Something to watch this morning will be the weekly Japan MoF data on portfolio flows,” due at 23:50 GMT. “This covers the week through last Saturday and will reveals the extent, if any, to which Japanese investors stepped up foreign asset buying after the BoJ announcement the previous Thursday,” said Rob Henderson, Chief Economist at National Australia Bank. USD/JPY has recovered last at 98.18 from NY session lows at 97.17.
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Forex: EUR/AUD stalls below 50% Fibo retrace at 1.27

Following massive sell-off in EUR/USD today down -1.1% for the day, EUR/AUD was capped at fresh 5-week highs 1.2741 by very early London trade. The cross has corrected below the 50% Fibo retrace of latest daily down leg from early Feb 2013 highs at 1.3190 to late March double lows at 1.2220, located at 1.2700 round.
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