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Forex Flash: Stay neutral EUR/USD – OCBC Bank

Emmanuel Ng of OCBC Bank is neutral EUR/USD at this juncture after the pairs recent run and investors raising questions about the viability of a further run up in the near term.

He sees that initial support is expected around the daily 55 MA at 1.3253, before the psychological 1.3200 level. He feels that the continued dissonance amongst European officials with respect to the EUR may leave the pair adrift in the near term with the Italian elections also looming at the end of the month. He writes, “Meanwhile, we continues to expect a certain degree of vulnerability for the GBP and the AUD against the dollar, with the former still seen fragile on the back of its macro/monetary outlook while the latter may remain the target of potential unwinding in favour of the EUR.”

Forex Flash: Yen swings on G7 speculation – maybe more to come! - BTMU

Derek Halpenny, European Head of Global Market Research at the Bank of Tokyo Mitsubishi UFJ notes that the G7 statement released yesterday should serve as a reminder that commenting on foreign exchange rates invariably leads to the very thing the authorities wish to avoid – excessive volatility!
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Forex: EUR/USD in session highs ahead of EMU data

The euro is posting fresh highs above 1.3480 on Wednesday, ahead of the Industrial Production figures in the euro zone, expected to improve in December to 0.2% on a monthly basis and -2.4%...
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