Market Notes:
Despite risk appetite return, we saw the NZD and AUD started the day in the negative territory. However, for the last few hours it seems like “back to normal”, which means AUD and NZD continue to rise.
CAD still is very strong and the next day-two are the key days as oil is at its resistance. Breaking it, can take the oil to 85$ and will have more bullish affect for CAD.
JPY has started the day on a very positive note, although the stock markets have finished the day with a good rally.
Daily Trends & Charts
AUD/JPY – uptrend channel
Although JPY has started as a strongest currency of the day, it couldn’t break the uptrend support. Combined with a risk appetite, we believe the pair will continue to rise.
GBP/USD – breaking of the support line
The pair has broken the 1.6075 support. It looks that it tests the line again, only that the support has became a resistance. We’ll expect for a further decline, while 1.5925 is a next strong support, 1.6022 is a weak one.
Watch the Fundamentals!
Yesterday – GB Manufacturing PMI out at 54.1 vs. 52.1 exp.
US Manufacturing PMI out at 55.9 vs. 54.1 exp.
TODAY– US Pending Home Sales at 15:00 GMT
Tomorrow– Italian Banks Holiday
AUD Building Approvals at 00:30 GMT
GB House Price Index.
GB Services PMI at 09:30 GMT
US ADP Non-Farm Employment Change at 13:15 GMT
US ISM Non-Manufacturing PMI at 15:00 GMT
US FOMC Meeting Minutes at 19:00 GMT
Written by Finexo.com