Forex Flash: Majors well bid ahead of NFP - BBH
FXstreet.com (Córdoba) - The US dollar has surrendered around half of yesterday's gains as investors "seemed to look past the drag from Draghi and anticipate a stronger European response next month and a jobs report that will keep the Federal Reserve looking to provide more support", says the BBH team.
"The major foreign currencies are well bid in Europe, but the technical indicators warn that additional strong gains are unlikely ahead of the weekend", they say. "The euro is likely to meet resistance in the $1.2250-80 area. Similar resistance in sterling is seen in front of $1.5600. The Australian dollar has been capped near $1.0540 for the past four days, except for that brief spike to $1.0580 yesterday. The dollar's shelf near JPY78.00 remains intact and uninspiring".
"The major foreign currencies are well bid in Europe, but the technical indicators warn that additional strong gains are unlikely ahead of the weekend", they say. "The euro is likely to meet resistance in the $1.2250-80 area. Similar resistance in sterling is seen in front of $1.5600. The Australian dollar has been capped near $1.0540 for the past four days, except for that brief spike to $1.0580 yesterday. The dollar's shelf near JPY78.00 remains intact and uninspiring".
Free Annual Reports
