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The USD and JPY trade lower as US equities are set to open higher ahead of today’s release of US Q3 GDP, economic sentiment improves in the EU and German unemployment unexpectedly fell, UK mortgage approvals rise to an 18 month high, GBP trades at a six-week high versus EUR,…

Cable has risen during the day and is testing the Resistance at 1.6480 mentioned in the morning. A rise beyond 1.6480 might find stiffer Resistance at 1.6525. Whereas the honour of 1.6480 is likely to bring the pair down towards the lower end of the range during the US session…

* Times listed are GMT

GBP continues to struggle slightly above its declining channel following its marginal lower close on Thursday. To alleviate its current threat to the downside, the pair must climb back above the 1.6692 level, its Oct 23’09 high to signal further upside towards the 1.6740 level, its Sept 11’09 high where…

Extension of losses following the pair’s collapse off the 1.5062 level was seen Thursday pushing EUR to as low as 1.4690. It was seen turning off lower prices today. Vulnerability to the downside still remains on the cards with lower level prices targeting the 1.4699 level, its daily 50 ema…

On Wednesday Dollar/Yen continued the bearish movement, reaching a bottom at 90.58, and closing the day at 90.66. The 92.27 level plays the role of a key resistance at this stage. Our expectations are for bearish trend in the short term, till we see how strong the 90.25 support will…

The US Q3 GDP report isn’t even out yet but expectations that the data will confirm that the US economy climbed out of recession has drawn out signs of renewed risk appetite this morning. The USD and the JPY have lost ground against the usual line up of high yield…

After touching the first Pivot Resistance level at 0.9391, the AUD/CHF fell down with a break through the middle Pivot point at 0.9333 and the first support at 0.9253. Now the market trades on the 0.9200 support level from the end of the previous month, which is similar to the…

In currencies: The USD retraced some of its recent strength against the Euro and Swiss currencies during the European morning. Dealers noted that European stocks did not fall as much as initially feared and the comments from the IMF on the Asian region outlook helped to sooth the recent spat…

Dark clouds (in the figurative not Japanese candlestick sense) are clearly forming over risk appetite. Wall Streets severely underperformed yesterday and Asian equity markets are broadly lower with our favorite risk barometer the Shanghais composite down -2.33%. The Baltic Dry index has closed lower in the last two days. Both…