Forex: EUR/USD apathetic after Spanish sales

The shared currency remained indifferent after the 10.2% annual contraction of the retail sales in Spain, missing estimates at -8.3% albeit bettering December’s -11.4%. The euro kept unmoved around the area of 1.2950, now waiting for the EMU’s Employment Change and the ECB Monthly Report.

As of writing, EUR/USD is down 0.08% at 1.2951 facing the next support at 1.2924 (low Mar.13) ahead of 1.2881 (low Dec.10) and finally 1.2878 (low Dec.7)
On the upside, a breakout of 1.3075 (high Mar.12) would bring 1.3124 (MA21d) and then 1.3127 (MA100d).

Mar 14, 2013

Forex Flash: RBNZ rates hold as dovishness prevails – UBS

The AUD/NZD was jolted over two big figures higher overnight after the RBNZ took a step towards the dovish end of the spectrum. More significantly though, there was a pronounced rhetorical escalation against currency strength. Governor Wheeler noted rates would likely hold current levels until year end, but warned that the kiwi is over 10-15% overvalued and he said that scope for an interest rate cut would increase if the currency strengthens further.

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Mar 14, 2013

Forex Flash: Spanish bonds in focus - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that Europe´s highlight today will be Spanish long dated bond auctions.

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