Forex: EUR/USD back to 1.3535/40 after French data

The single currency is back to the proximities of 1.3540 – home of intraday highs, so far – after the French trade deficit widened to €5.3 billion during December from €4.3 billion previous. The poor data continued after the annualized 6.9% contraction of Spanish industrial output in de the same period.

Next on tap in the euro area would be the German industrial production, preceding the ECB meeting.

At the moment, the pair is up 0.10% at 1.3536 with the next hurdle at 1.3620 (intraday support Feb.4) and then 1.3660 (high Feb.4).
On the flip side, a breakdown of 1.3494 (low Feb.6) would aim for 1.3459 (low Feb5) and then 1.3415 (low Jan.29).

Feb 7, 2013

Forex Flash: Shorting the AUD crosses is recommended – UBS

The AUD fortified during the Asian session as the January unemployment came in at +10.4 (cons. +5k). In addition, the unemployment rate dipped to 5.4% from 5.5%. According to Research Analyst Gareth Berry at UBS, “Our economists note however that business intentions fell, so the market should perhaps reserve judgment until the February 28th capex survey.”

Forex: GBP/USD trading at session highs at 1.5687/88

The GBP/USD has final shown some signs of life Thursday, having jumped nearly 25 pips in recent minutes to trade at its session highs of 1.5687/88 during European trading. Ahead of some the data release in the United Kingdom, the pair is recording an advance of +0.12% on the day.