It seems that Swiss National Bank is intervening in the market, see chart below. The reason is a talk doing the rounds that ECB is helping Greece lower borrowing costs by buying Greece government debt. So, I suggest staying EUR/USD short but not EUR/CHF...
Buy lows in this pair with a TP 93.00
Both central banks, Bank of Japan and Bank of England as well, refrained from changing their current monetary policies this week. But there are still differences in prices between Japan and England government bonds among all kind of maturities, so I suggest buying GBP/JPY lows in terms of chasing higher yields.
Buy USD/JPY USD/JPY has declined modestly in response and BNPP thinks that a big correction is unlikely for the following reasons: "We expect underlying Japan investor outflows to limit downside in USDJPY and for higher US front-end yields to guide the pair higher. In addition, our FX Positioning Analysis indicates that net short JPY positioning remains at very...
Maybe it seems that NFP numbers issued yesterday are not good at first glance. Non farm payrolls increased only by 126.000 but unemployment rate remained unchanged at 5.5 percent. However, average hourly earnings in the United States increased 0.30 percent in March of 2015 over the previous month. I suggest selling EUR/USD highs. Greece has told its creditors it...
I'm interested in selling USD/JPY. Strange to someone but it seems that Japan data have improved in recent weeks. It all depends on the next move by Bank of Japan next Wednesday.
Stay aside for a while and sell the highs Having been waiting since Monday to sell the Euro in a volatile market I finally made a trade on Friday buying Euros for a few pips. It was clear that the Euro was being defended the whole week probably by BIS due to hedge funds rebalancing with month-quarter end flows and downgrading Greece by Fitch. On the chart (a...
Buy EUR/USD only today. BIS is probably buying Euros....
Stay aside for a while with all USD pairs. I closed all my open positions yesterday as market is moving in the wrong direction from my point of view. See also the article below from GS issued early in the morning today
Reserve Bank of Australia governor Glenn Stevens says the tumbling Australian dollar may still fall further. Sky News Australia
I agree with BNPP about selling current highs particularly in EUR/USD and buying dips in USD/JPY pair.