Forex Flash: Recovery looms for gilts – RBS

According to Technical Strategist Dmytro Bondar at RBS, “Gilts were held at 118.61, the 123.6% Fibonacci projection from the March impulse wave. There also was an island reversal; formation on Friday, suggesting the gap and Fibonacci level of 118.97 to become a major support. Looking for a recovery to 119.56/93 onto 120.50 on the stipulation of a sustained break below 118.61”.

Apr 15, 2013

Fundamental Afternoon Wrap: CNY and AUD top the polls this afternoon

On a quiet day for European and US data, this afternoons institutional research has seen analysts looking slightly further afield for their subject matter. There has focus fall on last night's Chinese data miss and the upcoming RBA minutes.

Forex: EUR/USD remains below 1.3100 after US housing

The EUR/USD recovered most ground just ahead of the NY opening and NY empire state manufacturing index, reaching 1.3108, but disappointment spread across the market again and the pair has been trading mostly below 1.3100 since then. Currently at 1.3090 after the publication of US housing data by NAHB.