Tuesday, 22 July 2014

Sunday, 20 July 2014


What's up, Forex Doc? 6-Month Check Up

The European Central Bank has played a key role in stabilising the Eurozone while member states attempt to implement major economic reforms.
It seems like the world sees history and thinks, ‘this time things will be different'. So many big plans and bold statements from governments signaling change and no more return to the bad old days, under someone else's term in office. Yet here we are once again in the UK.

Currency, Investor & Market

The EUR/USD had a bad week, edging down to 1.3490 and about to close the week a few pips above the level, weighed not only but EUR weakness, but also by risk aversion.
Geopolitical risk has been the theme of the week, triggered late Thursday with a civil Malaysian plane downed by a missile in the border between Russia and Ukraine, and Israel invading Gaza, starting a ground offensive after Hamas rejected a truce.
Broker EUR/USD GBP/USD USD/JPY USD/CHF
13.6
24.6
13.2
25.2
3.7
9.7
5.9
6.8
7.0
9.0
9.0
7.0
7.5
9.0
12.7
15.0
See all brokers >>>

Dollar gains adepts on risk aversion, EUR weakness

Pair Average levels
1 Week 1 Month 1 Quarter
EURUSD 1.3478 1.3482 1.3352
GBPUSD 1.7054 1.7043 1.6961
USDJPY 101.10 101.79 103.51
USDCHF 0.9000 0.9023 0.9155
AUDUSD 0.9341 0.9253 0.9123
Pair Average levels
1 Week 1 Month 1 Quarter
USDCAD 1.0750 1.0780 1.0928
NZDUSD 0.8641 0.8632 0.8540
GBPJPY 172.93 174.67 175.12
EURJPY 136.68 137.50 139.22
EURGBP 0.7908 0.7863 0.7825
EUR/USD bearish sentiment intact: market players wait for a challenge of 1.3475 year low to confirm a move at least towards 1.3300.
GBP/USD mixed emotions: some bears surge in GBP, but leaving a sideways view on the pair, with many still favoring more Pound strength.
USD/JPY bulls lower expectations, but don’t give up: short term bearish, the USD/JPY may flirt with 100 in the upcoming days, yet regain the upside towards 103.00/105.00 afterwards.
AUD/USD 0.9450 to cap the upside, bearish pressure grows: a test of 0.9000 becomes more likely and ever lower, for the next quarter.
EUR/JPY more slides before a bounce: EUR weakness may tear the pair down next week, but investors still believe yen will weaken further in term.
Forex Live Analysis Room with Dale Pinkert
Forecast in currencies and geopolitics in the FXroom this week: Patrick Chovanec: Current globe's geopolitical hotspots; What's going on?; and Steve Ruffley: EUR/USD likely to fall to 1.2700 in the weeks ahead.
Patrick Chovanec @prchovanec
   
Steve Ruffley @SteveRuffley
   

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