Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

FX Market Review: Societe Generale

EUR/USD: 1.0552 - 1.0599 overnight range. Run of negative US data surprises (see chart) lifts spot back towards 1.06 handle but short EUR covering will depend on the FOMC tomorrow. EZ final CPI and German ZEW in focus today. Resistance 1.0695.

USD/JPY: 121.30 - 121.52 overnight range. BoJ meeting a non-event. Large option expiries at 121.00 ($930mn), 121.75 ($700mn) and 122.00 ($612mn) keep spot rangebound. Tighter US/JA 2y spread (77bp) and US data misses cap upside.

GBP/USD: 1.4812 - 1.4834 overnight range. Wafer thin trading range in Asia with traders sidelined ahead of the big day tomorrow (BoE MPC minutes, labour market data, Budget). Cable eyeing a first weekly gain this month. EUR/GBP res 0.7217. 

AUD/USD: 0.7612 - 0.7646 overnight range. Spot steady in Asia taking the dovish RBA minutes in its stride probably aided by the fact that IMM shorts are already at record high. EUR/AUD back above 138 handle aided by the euro rebound overnight.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.