Forex Daily Outlook Archive

The Japanese yen was broadly sold off last week as it’s back becoming the favored carry trade funding currency in the current risk seeking environment. Stocks was back above pre-Japan disaster higher with DOW breaking 12931 resistance on solid economic data. Canadian dollar was the...

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Euro was broadly weaker last week as worries on peripheral countries’ ability to raise funds in the markets resurfaced. The common currency broke through 1.3 psychologically level against the greenback, breaches 0.83 against Sterling and is back pressing record low against Aussie. Investors are particularly...

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Dollar’s selloff extends further today and, in particular, reaches new record low against Swiss Franc. Treasury yields recover in early US session but gives little support to the greenback. Gold rides on dollar’s weakness and jumps back to above 1400 level while crude oil is...

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Euro remains soft as Spain’s final bond sales this year missed target. The country sold EUR 1.78b of 10-year bonds and EUR 0.62b of 15- year bonds today. The total of EUR 2.4b missed Treasury’s maximum target of EUR...

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[WizardRSS: unable to retrieve full-text content] GBP/JPY’s strong break of 131.98 invalidated that the view that rebound from 126.42 is finished. Intraday bias is flipped back to the upside and focus is turned to medium term falling trend line resistance (now at 132.78). Decisive break there...

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Dollar is seen mildly weaker in early US session after data showed Q3 GDP growth missed expectation. The US economy grew at 2% annualized rate in Q3, at faster pace comparing to finalized reading of 1.7% in Q2. However, that was slightly below market expectation...

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News flow was generally negative for dollar last week. FOMC minutes showed some members thought it’s appropriate to have further easing “before long”. Bernanke latter echoed and said there is a “case for further action”. Initial jobless claims refused to drop and has indeed...

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Euro is lifted by expected upward revision in PMI services today. The index was revised up from initial reading of 53.6 to 54.1, which suggests better strength in the economic recovery. Though, gain is limited so far as the news was offset by a weak...

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Canadian dollar spikes higher in early US session after job market report showed more than expected expansion of 35.8k in August. However, we’re not selling much follow through buying yet as the positive picture was dampened by unexpected rise in unemployment rate to 8.1%. Swiss...

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