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2012-08-17 04:19 GMT
Antipodean intervention highly unlikely - ANZ
Direct currency intervention is highly unlikely in Australia or New Zealand in the near term, according to Richard Yetsenga, Andrew Salter & David Croy, strategist at ANZ. "Neither currency is sufficiently over-valued, and it seems unlikely that intervention would be effective." More broadly, "we may be in the early stages of a secular shift in the mix of monetary conditions, involving the combination of stronger currencies and lower interest rates" the team adds.
London session ahead will bring a soft agenda again in EUR macro related terms, starting with Germany PPI at 06:00 GMT, followed by EU current account 2 hours later, and EU trade balance at 09:30 GMT, and no sovereign EZ debt auction on sight for this Friday, as usual for Fridays, with Spanish yields falling while Germany ones rising, thus narrowing their risk premium. Even though session promises to be a quiet one, given current low liquidity conditions, and Spanish gov council meeting today, this could bring some surprising headlines around causing some wide moves. (fxstreet.com)
Read More
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2012-08-17 06:00 GMT
Germany. Producer Price Index (YoY) (Jul)
2012-08-17 09:00 GMT
E.M.U. Trade Balance(Jun)
2012-08-17 12:30 GMT
Canada. Consumer Price Index (YoY) (Jul)
2012-08-17 13:55 GMT
United States. Michigan Consumer Sentiment Index (Aug)
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2012-08-17 04:35 GMT
EUR/USD holding around Fib 1.2340
2012-08-17 04:34 GMT
GBP/USD top-heavy in late Asia
2012-08-17 03:38 GMT
AUD/JPY consolidates below 83.50
2012-08-17 03:19 GMT
AUD/USD drops to session lows, manages to stay around 1.0500
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SUMMARY
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TREND
Sideway
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MA10
Bullish
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MA20
Bullish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
Yesterday, EURUSD hit our support level at 1.2263 but did not manage to stabilize below it and reversed above our resistance level at 1.2310. Our suggested target was met at 1.2344 successfully.
Next resistance level and target for yesterday remain at 1.2373 (R1). Rise above it might lead to the further trend development with next targets at 1.2401 (R2) and 1.2430 (R3) in potential today. Downside direction is limited by next support level at 1.2330 (S1), price decrease below it would be targeting next support at 1.2298 (S2). Brake here would suggest last support level at 1.2264 (S3) as final target for today.
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SUMMARY
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TREND
Sideway
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Overbought
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MARKET ANALYSIS - Intraday Analysis
GBPUSD maintained correction by penetrating below our suggested support level at 1.5659 yesterday. After that pair continued moving upwards above our suggested resistance level at 1.5703 and reached our target at 1.5740. Next resistance for today holds at the same level - 1.5740 (R1). Rising up above this level might suggest next targets at 1.5778 (R2) and 1.5815 (R3) in potential. On the other point, if the market manage to brake next support level at 1.5687 (S1), we might see pull back development with possible targets at 1.5653 (S2) and 1.5617 (S3).
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SUMMARY
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TREND
Up
trend
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MA10
Bullish
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MA20
Bullish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
Pair moved upwards but did not manage to hit any of our resistance levels. Our resistance levels remain the same as yesterday. Next resistance level lie at 79.45 (R1), clearance here might provide potential to go higher. Next expected target would be at 79.63 (R2) and any further gains would then be limited by last resistance at 79.83 (R3). Risk of price depreciation is seen below next support at 79.23 (S1). Price progress below it might expose next target at 79.05 (S2). Brake here is required to put in focus last support level at 78.85 (S3) as intraday final target.
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on this newsletter, including but not limited to news, research, opinions, analyses
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