Your Friend LLC

The safe haven trades that were made on Friday/early Monday were soon squeezed out as markets viewed tensions in Egypt as easing rather than escalating. A slightly higher than expected EU CPI estimate for January (+2.4% m/m vs. 2.3% expected and 2.2% prior) brought this week’s ECB meeting to the

EUR/USD: The Euro extended its gains and is currently trading at 1.3715 levels after making a high of 1.3739 after Egyptian concerns eased yesterday. Looking ahead today, German Unemployment Change forecast at -11k vs. 3k previously and Unemployment Rate expected stable at 10.1%. Immediate support comes at 1.3680 (H4 20

With recent geopolitical issues pushed to the background, inflation has been the new fuel that has moved markets here in Asia. Although the political unrest in Egypt has not abated, it has not escalated either, thus helping to pull the crisis out of the spotlight at least for the time

On Monday the Euro/Dollar increased significantly with around 170 pips. The European currency appreciated from 1.3569 to 1.3739 yesterday, matching the positive Interbank sentiment projection at almost +44%, closing the day at 1.3691. This trading is tranquil and and at the top of yesterday’s range for now. On the 1

Intraday bias in EUR/USD remains neutral for the moment as it’s still staying in range of 1.3570/3757. Some more consolidations could still be seen. Below 1.3570 will bring another fall but after all, we’d expect strong support above 1.3245 and bring rally resumption. As discussed before, whole decline from 1.4281

GBP/USD’s break of 1.6057 indicates that rise from 1.5343 has resumed. Intraday bias is back to the upside and further rise should be seen to retest 1.6298 high next. On the downside, below 1.6002 minor support will turn bias neutral and bring consolidations. But downside should be contained above 1.5750

Downside momentum in USD/CHF remains a bit unconvincing with 4 hours MACD staying above signal line. But after all, further decline is still in favor with 0.9520 support turned resistance intact. Current fall from 0.9782 is still in progress to 0.9300 low. Break there will bring down trend resumption towards

USD/JPY’s break of 81.84 today suggests that choppy fall from 83.67 has resumed. Intraday bias is back on the downside for a test on 80.93 support first. On the upside, above 82.24 minor resistance will turn intraday bias neutral and bring recovery. But break of 83.19 resistance is needed to

As widely expected in the market the Reserve Bank of Australia (RBA) held rates steady today in a preemptive step for slowing growth as floods weigh negatively on growth keeping inflation check. RBA Governor Glenn Stevens and the board decided to keep the overnight cash target at 4.75% since they