Having faced rejection just shy of 109.50 barrier, the USD/JPY pair entered a phase of consolidation, as the bulls take a breather after the overnight rebound from four-month lows of 108.58. USD/JPY: Focus shifts to the Jackson Hole Symposium Despite persistent strength seen in the
The selling pressure around the single currency is now gathering fresh traction, dragging EUR/USD to test daily lows in the 1.1770 region. EUR/USD focus on ZEW After advancing to the 1.1830 region late on Monday following a bout of USD-weakness, the pair seems to have
The German ZEW headline numbers for August, showed that the headline economic sentiment worsened for the third month in a row, coming in at 10.0 versus 15.0 expectations and 17.5 seen last. While the sub-index current conditions unexpectedly rose to 86.7 versus 85.5 expected and
Analysts at Danske Bank keep the cautious approach on USD/TRY, seeing it higher near 3.80 in a 6-month’s view. Key Quotes “We see good prospects for the TRY in the short term supported by encouraging macro fundamentals and attractive carry, while staying more cautious in
Japan’s new foreign minister Taro Kono crossed the wires earlier today, via Reuters, noting that international pressure against North Korea must be maintained until Pyongyang clearly demonstrates that it will give up its nuclear programme. Key Quotes: “It’s not the time to discuss (the resumption
The GBP/USD pair once again failed to sustain early up-move beyond the 1.2900 handle and came under some renewed selling pressure on Tuesday. Currently placed at session lows, around mid-1.2800s, the pair has now reversed majority of yesterday’s modest recovery gains from closer to 5-week
After dropping to as low as the 92.90 region on Monday, the US Dollar Index (DXY) has now regained some attraction and is now hovering over the 93.20 region, or daily highs. US Dollar supported below 93.00 The index is picking up pace today following
Analysts at HSBC believe that a modest reversal lower is likely for EUR and are looking for EUR-USD to pull back below support at 1.1600 and perhaps gravitate towards the 50-day MA of 1.1491. Key Quotes “There may be some intermittent support at 1.1542, the
Justin Smirk, Research Analyst at Westpac suggests that outside the minimum wage boost there is little else to drive a broader acceleration in Australian economy. Key Quotes “As the labour market recovers wages lag behind. Wages continue to lag behind the recovery in the Australian
NZD/GBP remains stuck in a sideways range of 0.5600- 0.5750, notes Imre Speizer, Research Analyst at Westpac. Key Quotes “GBP offers little appeal amid ongoing background negatives including: 1) persistent Brexit vulnerabilities; and 2) a central bank that is clearly in no rush to begin