AUD - forex weekly (20 April 2008)
The Australian dollar appreciated vis-à-vis the U.S. dollar last week as the Aussie tested offers around the US$ 0.9400 level and was supported around the US$ 0.9205 level. The pair gained about 15 pips last week. Minutes from RBA’s board meeting of 1 April indicate policymakers sees inflation falling […]
CAD - forex weekly (20 April 2008)
The Canadian dollar appreciated vis-à-vis the U.S. dollar last week as the greenback tested bids around the C$ 0.9985 level and was capped around the C$ 1.0275 level. The pair lost about 150 pips last week.
CHF - weekly (20 April 2008)
The Swiss franc depreciated vis-à-vis the U.S. dollar last week as the greenback tested offers around the CHF 1.0285 level and was supported around the CHF 0.9925 level. The pair gained about 220 pips last week. SNB chief Roth pledged more proactivity in the future about threats to the […]
CNY - weekly (20 April 2008)
The yen depreciated vis-à-vis the U.S. dollar last week as the greenback tested offers around the ¥104.75 level and was supported around the ¥100.30 level. The pair gained about 340 pips last week. The Nikkei 225 stock index lost 0.58% on Friday to close at ¥13,476.45. BoJ Policy […]
EURO - weekly (20 April 2008)
The euro depreciated vis-à-vis the U.S. dollar last week as the single currency tested bids around the $1.5670 level and was capped around the $1.5985 level. The pair established a new lifetime high before declining 60 pips. The G7 acknowledged recent “sharp fluctuations in major currencies” but traders doubted the […]
US Retail Sales increase in March
Consumption seems to have experienced a slight recovery in the United States in March, as retail sales have increased on the month, partially reversing losses posted on the previous month, according to data by the US Commerce Department.
Retail sales have increased 0.2% in March, in seasonally adjusted terms, totalling […]
Australia: Expect a Long Period When Rates Remain High
We remain comfortable with our view that rates have peaked in Australia. The Reserve Bank seems absolutely committed to ‘looking through’ the CPI measure on April 23 and focussing on its expectation that demand will slow substantially over the next two years to allow it to credibly […]
Near term, the latest bull leg (.9710-1.0324) is a wave 1 impulse within a 5 wave bull cycle (wave i of 1 is a diagonal).
We had previously treated the drop from 1.0324 as wave a in a larger a-b-c correction (wave 2) but the advance from 1.0018 is an impulse and is likely wave […]
102,25. USD JPY is in an uptrend supported by 1H exponential moving averages. USD JPY is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. We won’t take a position. The risk/reward ratio is […]
FOREX TECHNICAL COMMENTARY - 14 APRIL 2008
Currency
Sup 2
Sup 1
Spot
Res 1
Res 2
EUR/USD
1.5684
1.5726
1.5725
1.5914
1.6000
USD/JPY
99.36
100.03
101.10
102.28
102.84
GBP/USD
1.9607
1.9651
1.9710
1.9843
1.9928
AUD/USD
0.9177
0.9243
0.9235
0.9354
0.9473
XAU/USD
900.50
903.40
917.90
940.60
954.98