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Cable was the main mover today after more solid UK data, but elsewhere the currency markets were fairly rangebound as liquidity rapidly diminishes ahead of Easter. It looks as though today could be similar and it will be mostly position squaring that drives m...

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GBPAUD: 1.7990.  The cross is looking heavy and the measured objective of the Head Shoulder formation is at around 1.7200. Before then though we could see a return towards the neckline at 1.8200, which is roughly where the 100 DMA also lies. As long as this l...

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FX Charts Daily Report

  • 17 April: Cable higher, Yen lower, otherwise rangebound heading into Easter.
    April 17, 2014 08:02AM
    Cable was the main mover today after more solid UK data, but elsewhere the currency markets were fairly rangebound as liquidity rapidly diminishes ahead of Easter. It looks as though today could be similar and it will be mostly position squaring that drives market direction. There will be a bit of data out later on, which could provide some interest, with the highlights being the German PPI and Philly Fed manufacturing survey. Australia gets the NAB Business Confidence and New Vehicle Sales, while in Japan, BOJ Governor Kuroda will be speaking. Have a good Easter. Next update, Tuesday.
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  • 16 April. Running late – apologies.
    April 16, 2014 07:31AM
    Due to IT issues today’s report will be delayed. We hope to have something up by Asian lunchtime. In the meantime, watch out for the China GDP (exp 1.4%qq, 7.3%yy)
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  • 15 April: Solid US data, ECB comments support US$, keep the Euro under pressure.
    April 15, 2014 07:40AM
    Solid US retail sales helped the dollar and equity markets today, while the Euro was under pressure from comments on monetary policy from various ECB board members. Improved risk sentiment assisted the commodity bloc currencies and also commodities, which were generally firm. Today's focus will be on the EU/German ZEW Economic Sentiment Survey and the UK and US CPI. Before then RBA minutes will provide the interest in Asia.
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  • 14-19 April: Euro opening lower after w/e Draghi comments tying it to monetary policy.
    April 14, 2014 07:03AM
    The dollar pretty much ignored the sharp sell-off in the equities markets on Friday, with most currency pairs seemingly content to drift into the weekend in mostly narrow ranges. It will be a busy week ahead, with plenty to fit in before Easter, and the highlights will be the CPI readings from the US, EU, UK and the GDP reading from China. Today kicks-off with the EU Industrial Production, US Retail Sales and Business Inventories. Weekend comments from Mario Draghi tying EU monetary policy to the Euro's exchange rate could see it dip lower early on Monday. Liquidity will begin to thin out ahead of Friday, so we may see some exaggerated moves. Keep SL tight!
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  • 11 Apr: US$ under pressure as rate hike expectations are delayed.
    April 11, 2014 09:32AM
    Most of the action was in stocks today, although the dollar remained under pressure as expectations for a US rate hike were pushed back to H2 2015. Downside momentum may slow a bit given the oversold nature of the dollar on most of the short term charts, and there is not a lot of data to drive the markets. The highlights will be the German CPI and the Rts/Michigan Consumer Sentiment. Before then Asia gets the BOJ minutes and the Chinese CPI, which might put some pressure on the Aud and Kiwi, if below par.
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  • 10 Apr: Dovish slant of the FOMC minutes sends the US$ lower. BOE today.
    April 10, 2014 07:51AM
    The FOMC minutes contained no timeline as to when to expect a rate hike, which, following Janet Yellen's "6 month" comment at the press conference after the meeting, was enough for the market to sell the dollar across the board. It looks as though it could stay under pressure, although there is plenty of data out today to provide some volatility. Australian unemployment numbers will get the ball rolling ahead of the Chinese trade data, and then later in the day sees the BOE I/R decision and the ECB Monthly Report.
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  • 9 Apr: US$ under pressure ahead of the FOMC Minutes.
    April 09, 2014 07:45AM
    The dollar was under pressure on all fronts today ahead of the FOMC minutes, due later in the NY session. Cable, Aud and the Yen all had a strong run higher.The Euro, Chf and Kiwi also performed well and the DXY looks once more to have failed on the topside. Today, apart from the FOMC Minutes, will focus on secondary EU/US data, while in Asia we get the WBC Consumer Confidence and Home Loans data.
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