In currencies, the USD was mixed against the majors in a session that lacked any impetus. The EUR/USD consolidated within the 1.5870 to 1.5950 range despite continued hawkish speak from ECB members. Recent verbal intervention continues to cap the EUR
All are in agreement that the Reserve Bank will leave interest rates on hold at next week's OCR review, as this has been clearly signalled not only in the March Statement, but also in recent speeches and presentations. The main
The dollar rallied against the yen and euro in NY trading Friday, while the yen and Swiss franc dropped versus most key currencies, as global stocks gained on better-than-expected earnings from Google and Citicorp. The EUR/USD fell the most in
Next week brings another Bank of Canada decision date, and for the second meeting in a row, the markets are torn over whether to expect a 25bps or 50bps rate cut. While a rate cut in itself is nearly a
AUD/USD's rise from 0.9310 resumed last week and extended to as high as 0.9401. However, upside was limited by 61.8% projection of 0.9031 to 0.9345 from 0.9205 at 0.9399 and AUD/USD retreated sharply from there. With 4 hours MACD staying
USD/CAD's fall from 1.0273 extended further to as low as 0.9987 last week but turned into sideway trading since then. Nevertheless, with 1.0161 cluster resistance still holds, outlook is unchanged. While further consolidation could be seen initially this week, upside
GBP/JPY 's rise from 192.60 resumed last week by surging to as high as 208.99 to close the week strongly. Success break of short term falling channel resistance and 205.09 resistance confirms that decline from 241.35 has already completed at
USD/CHF finally broke out of multi week consolidation last week and surged to as high as 1.0284. From a short term angle, in initial bias remains on the upside this week as long as 1.0156 minor support holds. Further upside
After brief retreat to 158.24, EUR/JPY's rally from 151.71 resumed and extended sharply higher to 164.67 to close the week strongly. As discussed before, firm break of 161.38 resistance confirms that fall from 167.72 has already completed. From a short
After diving further to 1.9599 initially, cable staged a strong rebound last week and reached as high as 1.9998 to close the week with strength. The single week reversal pattern, as well as break of the short term falling trend
Despite edging higher to new record high of 1.5983 last week, EUR/USD was once again limited below 1.6 psychological level. Friday's sell off left the rise from 1.5671 to 1.5983 in three wave structure, invalidating the prior discussed scenario that
USD/JPY's rally from 95.77 resumed last week by taking out 102.94 resiteance and surged to as high as 104.64. While subsequent is seen towards the end of the week, intial bias still remain on the upside this week as long
The Japanese yen and Swiss Franc were sold off sharply across the board last week as investors' sentiments turned drastically. The selling of yen and swiss reached a climax on Friday after Citigroup's Q1 results prompted speculation the the worst
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