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USD/JPY keeps multi-month lows near 110.30

The better sentiment around the Japanese currency has sent USD/JPY to test the 110.40/30 band, fresh multi-month lows.

USD/JPY stronger on risk aversion

Spot has accelerated its downside to levels last seen in October 2014 in the proximity of 110.30, following the persistent weakness in Japanese equities amidst a solid sentiment towards the risk aversion.

Ahead in the session, US Services sector will take centre stage via gauges by Markit and ISM, followed by Trade Balance figures and the API’s weekly report on crude stockpiles.

USD/JPY levels to watch

As of writing the pair is retreating 0.88% at 110.36 and a break below 105.18 (monthly low Oct.2014) would expose 100.74 (monthly low Feb.4 2014). On the flip side, the initial up barrier is located at 112.42 (20-day sma) ahead of 113.81 (high Mar.29) and then 114.23 (55-day sma).

The better sentiment around the Japanese currency has sent USD/JPY to test the 110.40/30 band, fresh multi-month lows.

USD/JPY stronger on risk ave

(Market News Provided by FXstreet)

ECB minutes in the limelight this week – TDS

Strategists at TD Securities expect the ECB minutes to show strong consensus behind the March meeting.

Key Quotes

“The ECB minutes should reveal the strength of consensus behind March’s big easing move”.

“We would look for any signs of compromise from the more hawkish members (Weidmann did not vote in March), as well as indications of how much further the Governing Council appears willing to ease, should the need arise”.

Strategists at TD Securities expect the ECB minutes to show strong consensus behind the March meeting.

Key Quotes

“The ECB minutes should reveal

(Market News Provided by FXstreet)

USD/RUB focus on 64.34/62.34 – BBH

Researchers at BBH have noted the relevance of the 64.34/62.34 band in USD/RUB.

Key Quotes

USD/RUB has retraced nearly three quarter of the October-January rise”.

“Break below the November 20 low near 64.34 and then the November 3 low near 62.34 would set up a test of the October 16 low near 60.59. The 200-day MA comes in near 67.80”.

Researchers at BBH have noted the relevance of the 64.34/62.34 band in USD/RUB.

Key Quotes

“USD/RUB has retraced nearly three quarter of the Oct

(Market News Provided by FXstreet)

GBP/USD challenges 1.4200 on PMI

The sterling is accelerating its downside today, draggingGBP/USD to the boundaries of the 1.4200 key support.

GBP/USD lower on USD, PMI

The pair has given away yesterday’s strong advance to the 1.4320/25 band in response to a solid pick up in the demand for the greenback, all despite UK’s Services PMI has matched expectations during last month and surpassed February’s print.

GBP is following the generalized downbeat mood in the rest of the risk-associated space, while ‘Brexit’ jitters keeps their downside pressure on sentiment.

GBP/USD levels to consider

As of writing the pair is losing 0.20% at 1.4232 and a breakdown of 1.4173 (50% Fibo of 1.3833-1.4517) would aim for 1.4051 (low Mar.16) and then 1.3833 (2016 low Feb.29). On the other hand, the next hurdle lines up at 1.4459 (high Mar.20) ahead of 1.4517 (high Mar.18) and finally 1.4534 (100-day sma).

The sterling is accelerating its downside today, draggingGBP/USD to the boundaries of the 1.4200 key support.

GBP/USD lower on USD, PMI

The pair

(Market News Provided by FXstreet)

ECB’s Weidmann: Monetary policy not a global panacea

In introductory remarks before a speech by the IMF’s managing director, Lagarde, the European Central Bank’s (ECB) governing council member Jens Weidmann said that monetary policy is not a global remedy.

Key Quotes:

IMF indispensable part of rescue programmes

Monetary policy not a global panacea

Scope for fiscal impulses is limited

Structural reforms and reducing political uncertainty key to boosting investment

In introductory remarks before a speech by the IMF’s managing director, Lagarde, the European Central Bank’s (ECB) governing council member Jens Weidm

(Market News Provided by FXstreet)