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Maybe it’s just the usual listlessness around the Christmas/ New Year period, but there doesn’t seem to be a great deal of anticipation around next Thursday’s OCR review. Since the December Monetary Policy Statement the economic picture has generally panned out as the RBNZ expected, with no ‘blockbuster’ data that…

Risk aversion was in the driving seat last week as investors rushed out from stocks and commodities on a couple of concerns. US stocks were shot down by President Obama’s bank proposal to limit risk taking by banks and doubt on Bernanke’s future as Fed chairman in the second term….

EUR/USD resumed fall from 1.5143 last week and dived to as low as 1.4028 before turning sideway. Initial bias is neutral this week and some sideway trading might be seen. Nevertheless, upside of the recovery is expected to be limited below 1.4334 support turned resistance and bring fall resumption. Below…

USD/JPY’s fall from 93.74 extended further to as low as 89.77 last week despite some brief intra week recovery. Initial bias remains on the downside this week and further fall should be seen to 87.36 support next. As noted before, whole rise from 84.10 should have completed with three waves…

GBP/USD edged higher to 1.6456 last week but reversed below mentioned 61.8% retracement of 1.6875 to 1.5829 at 1.6475 and falls sharply to as low as 1.6086. The development indicates that corrective rise from 1.5829 has completed with three waves up to 1.6456 already and whole decline from 1.6875 should…

USD/CHF surged to as high as 1.0494 last week but lost momentum ahead of 1.0506 resistance and retreated. Initial bias is neutral this week and some sideway trading might be seen. Nevertheless, current development indicates that whole rise from 0.9919 should be resuming. Hence, downside of the retreat from 1.0494…

AUD/USD’s fall from 0.9327 extended further to as low as 0.8981last week and remains weak. Outlook in AUD/USD is quite mixed for the moment considering that dollar has been impressively strong elsewhere. Question is whether fall from 0.9327 is just a correction to rise from 0.8734 or it’s developing into…

USD/CAD rebounded strongly last week and the break of 1.0412 resistance confirms that fall from 1.0744 has completed at 1.0223, ahead of 1.0205 key support as expected. Initial bias remains on the upside this week for 1.0744 resistance next. Break there will also affirm the bullish view that choppy correction…