CURRENCY
OUTLOOK
|
 USD
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|
 EUR
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|
 GBP
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·
USD Index up
to 95.26
·
S&P 500
down to 2038.25
The USDX continued to capitalise on yesterday's momentum and rallied
once again. However, a contraction in the Philadelphia Federal
Manufacturing Index of 1.8 limited USD gains significantly.
|
|
·
EURUSD down
to 1.1201
The Euro continued to slide largely as a result of the strengthening
USD. Additionally, the Accounts of the ECB Monetary Policy Meeting and the
ECB Current Account data did little to keep the pair buoyant. |
|
·
GBPUSD up to
1.4603
The Cable held on to recent gains even as it grappled with a bullish
USD. Specifically, the UK posted excellent Retail Sales data across the
board and all estimates were exceeded by a significant margin. |
 CHF
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|
 JPY
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|
 AUD
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·
USDCHF up to
0.9904
The CHF conceded further ground to the Dollar as a lack of Swiss results
left the pair at the mercy of returning USD sentiment. Going forward, Swiss
Trade Balance results are due early next week which could slow the pair's
rally. |
|
·
USDJPY down
to 109.93
The JPY had a largely corrective move against the Dollar as the market
awaits news from the G7 Summit. Tomorrow's summit could see an increase in
market volatility |
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·
AUDUSD down
to 0.7221
The AUD slipped slightly as employment data was released. A weak 10.8K
Employment Change figure was offset by unemployment remaining steady at
5.7%. |
 NZD
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|
 CNY
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|
 XAU
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·
NZDUSD up to
0.6737
The NZD remained relatively steady but did appreciate by around 1 pip.
The gain was mainly technical as the pair attempted to move out of oversold
territory. |
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·
USDCNY up to
6.5464
The Yuan lost ground once again as the USD sentiment continued to make
its presence felt. As a result, US Existing Home Sales will be watched
closely over the weekend |
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·
XAUUSD down
to 1254.39
Gold extended its losses as the market began to equilibrate. Consequently,
the metal found support as softer Unemployment Claims figures came in at
278K. |
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