USD/JPY

Author: Epic Research Posted under:
 The Japanese yen is slightly stronger, as USD/JPY is trading at 81.10. CSPI will be released later on Monday. The March reading dropped by 0.6%, a sixth-month low. No change is expected by the markets in this month’s release. USD/ JPY is trading within range, at 0.8122. CSPI dropped, but still beat the market forecast. The consumer indicator posted a figure of -0.3%, while the markets had forecast a reading of -0.6%. The yen has edged upwards, with USD/JPY trading at 81.25. The markets are waiting for a host of releases on Thursday, including Retail Sales and CPI. All Industries Activity declined, posting a reading of -0.1%. This was just shy of the market forecast of 0.0%. USD/JPY has dropped below the 81 level, trading at 80.889.  


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USD/CHF

Author: Epic Research Posted under:
There are no Swiss economic releases until Tuesday. USD/CHF is  in a narrow range, as the pair is trading at 0.9154. Trade Balance plunged in March, declining to a surplus of 1.69B. The weak reading caught the markets off guard, as the forecast had predicted a surplus of 2.59B. The Consumption Indicator sparkled, climbing to 1.22. This marked the first time the indicator has been above the 1.0 level since August 2011. USD/CHF has dropped slightly, trading below the 0.91 level, at 0.9091. The markets are waiting for the release of the KOF Economic Barometer later in the week. The forecast calls for a reading of 0.26, which would be the highest figure since last November. 


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GBP/USD

Author: Epic Research Posted under:
GBP/USD has slid below the 1.61 level, trading at 1.6083. The markets are waiting for the release of the Public Sector Net Borrowing on Tuesday. The market prediction is not looking good, calling for the deficit to increase to 15.6B, up from 12.9B in March. Public Sector Borrowing ballooned last month, as the reading of 15.9B was even worse than the market forecast of 15.0B. This was the highest deficit recorded by the public sector since April 2011. GBP/USD has moved upwards, trading at 1.6158. The pair is now at its highest level since last October. British GDP dropped 0.2% in Q3, disappointing the markets, which had forecast a 0.1% increase. Index of Services was also weak, posting a reading of 0.2%. This was well below the market forecast of 0.6%. The pound is dropping and testing the 1.61 level, as GBP/USD is trading at 1.6099.  GBP has recovered and is moving upwards, trading at 1.6177. Nationwide Consumer Confidence sparkled last month, posting a reading of 53.


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EUR/USD

Author: Epic Research Posted under:
 EUR/USD gaps lower at the open as the first round of French presidential elections leaves a lot of room for uncertainty. Socialist challenger Francois Holland did quite well, and he has called for a renegotiation of the Euro-zone fiscal agreement, in order to encourage growth. Monday morning started with a host of releases today out of the Euro-zone, France and Germany, with many falling below the market forecast. French Flash Manufacturing PMI came in at 47.3, exactly as predicted. However, both the German and Euro-zone Flash Manufacturing PMI were below the market prediction. Euro-zone Flash Services PMI posted a reading of 47.9, slightly below the market forecast. German Flash Services PMI came in at 52.6 almost matching the market forecast. French Flash Services PMI was the biggest disappointment, as it dropped to a six-month low. The index came in at 46.4, well below the market forecast of 50.3.  EUR/USD continues to slide, trading at 1.3137.  Euro-zone Industrial New Orders were a major disappointment, posting a reading of -1.3%. The markets had predicted a rise of 1.4%. 


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USD/CAD

Author: Epic Research Posted under:
USD/CAD has bunped up close to the parity level, trading at 0.9970. The markets are waiting for the release of two key indicators on Tuesday. The first is Core Retail Sales, one of the most important consumer indicators. As well, the head of the Bank of Canada will be speaking, and the markets will be hoping to get a clue as to future monetary policy. The loonie has moved higher, as USD/CAD is trading just above the 0.99 level, at 0.9905.  After a decline in March, Core Retail Sales rose 0.5%, close to the market forecast of 0.6%. Retail Sales did not fare much better, posting a decline of -0.2%. The markets had forecast a 0.1% increase. The loonie contiues to push upwards, as USD/CAD is trading at 0.9862. The pair has not traded at such a low level since early March.


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YEN

Author: Epic Research Posted under:
Despite the BOJ's moves early Friday to increase asset purchaces, the Yen remains offered against the Greenback.  Traders fading rallies into the daily trendline resistance have profited handsomely.    The latest rejection at 81.50 likely has USD/JPY bulls in fits as the pair now is poised to test the 80.00 figure to end the week.


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US Dollars

Author: Epic Research Posted under:

The S&P 500 took out the top of the range that contained prices for the past two weeks while the US Dollar slipped below support in place from late March.
S&P 500 – Prices took out resistance at 1391.10-20 marked by the recent range top and the 50% Fibonacci retracement level. Bulls are now testing the 61.8% level at 1399.10, with a break above exposing the April 2 closing high at 1416.10. The 1391.10-20 area has been recast as near-term support.

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USD/JPY

Author: Epic Research Posted under:
A small sigh of relief has been heard from marts after the FOMC kept on easy-money message today, allowing risk-sensitive FX pairings to improve a bit and USD/JPY to chop reflexively and briefly up to key downtrend line resistance by 81.60.
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GBP/USD

Author: Epic Research Posted under:
After yesterday's London morning plunge on GDP data indicating recession in UK by −0.2% in Q1, the GBP/USD picked up from 1.6080 low and retraced the whole losses.


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RBI

Author: Epic Research Posted under:

RBI clears Enam-Axis deal, integration likely in Q3, Vallabh Bhansali made advisor
-Government Official says Iron ore mining in Karnataka likely to resume in July
-RBI allows airlines to raise overseas debt for working cap
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EURUSD Analysis 23-27-April

Author: Epic Research Posted under:
EURUSD Analysis Update – 21st April Large speculators had added to bearish bets on the EUR, as of Tuesday 17th April, with an increase from 101,364 to 118,125 net short contracts according to the latest CFTC’s commitment of traders (COT) report.  The price action as the week progressed has not been inline with this early


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