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14 Feb 2013

Forex: USD/CHF rallies to intraday resistance on French and Germany Q4 recession

The USD/CHF is rallying at the moment of writing, mirroring negatively the EUR/USD chart, as investors realize the "not-so good" economic reality in the Eurozone after the publication of flash GDP figures in France and Germany.

In Germany, economic growth might have eased from 0.4% to 0.1% (YoY), below 0.2% consensus, with a quarterly recession of -0.6% (consensus of -0.5%). The quarterly recession in France was of -0.3%.

Quickly, the USD/CHF rallied by 40 pips, above 0.9180 and past the 0.9200 mark to reach as high as 0.9220, for now.
"Intraday rallies are likely to now find that 0.9210/17 offers nearby resistance (recent high and 55 day ma) and we may see a slight pull back from here", wrote Commerzbank analyst karen Jones, pointing to supports at 0.9150 and 0.9065.
Feb 14, 2013

Forex: USD/JPY volatile on BoJ and candidates for Governor

Thursday trading started with a spike down to 93.14 low followed by a spike up to 93.64 on volatility caused by the BoJ monetary policy, which was left unchanged as Governor Shirakawa is at the end of his term. As the USD/JPY trades with European money, the market went to test its highs and extended to 93.71. As of writing, the pair quotes around 93.50.
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Feb 14, 2013

Forex: EUR/USD in lows below 1.3400

The shared currency accelerates its descent below the key mark at 1.3400 on Wednesday, after both French and German GDP figures during the fourth quarter have disappointed expectations, contracting...
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