Forex Flash: EUR/USD to remain pensive ahead of macroeconomic developments - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank believes that EUR/USD may remain somewhat pensive in the near term on the back of the darkening perception of macroeconomic prospects in the near term.

He sees that having dipped below the 55-day MA (1.3109), look towards the next junction at the 200-day MA (1.2926), while 1.3200 should cap for now. Looking to GBP/USD, he notes that disappointing February labor market numbers contributed to the pairs heaviness on Wednesday with the BOE minutes also a nonevent. Going ahead, a sustained break below the 1.5230 area may precipitate a down move towards the 1.5100 neighborhood.

Apr 18, 2013

Forex: AUD/USD up to 1.0330 on NAB data and China housing

The AUD/USD is moving stronger today as investors are more prone to risk after a stronger housing price report in China, improving business confidence in Australia and ahead of the G20 meeting that starts today. The cross has been rising across the chart since the 1.0270 low printed just ahead of the NAB report. The market is already up by +0.28% and extending gains to 1.0330.

UK: Annual Retail Sales drop 0.5% in March

National Statistics informed on Thursday that year-over-year UK Retail Sales dropped 0.5% in March, compared with the 2.5% increase in February and slightly above below forecasts of -0.5%.