The yen and dollar weakened against most of their major counterparts as global stocks rose on speculation more corporate earnings will beat expectations, damping demand for the safest assets.
Japan’s currency slid for a third day against the euro after Intel Corp.’s revenue forecast exceeded analysts’ estimates following better-than-expected earnings yesterday at Goldman Sachs Group Inc. and Johnson & Johnson. The pound advanced to the highest level versus the dollar in almost two weeks on the smallest increase in U.K. jobless claims in a year.
“A number of key players with better-than-expected earnings eased the risk backdrop,” said David Watt, a senior currency strategist in Toronto at RBC Capital Markets, a unit of Canada’s biggest bank by assets. “The market snapped back on the positive news.”
The yen declined 0.9 percent to 131.76 per euro at 9:34 a.m. in New York, from 130.62 yesterday. The dollar slid 0.9 percent to $1.4088 per euro from $1.3967 and touched $1.4102, the weakest level since July 2. The yen was little changed at 93.7 versus the dollar, compared with 93.50.
A JPMorgan Chase & Co. gauge showed implied volatility on options for major exchange rates fell to 13.59 percent in a third day of decreases. Reduced volatility indicates less probability of currency fluctuations that may erode profit on investments in higher-yielding assets.
The dollar fell 1.3 percent to 8.158 South African rand and the yen declined 1.3 percent to 12.02 versus the Swedish krona as the Standard & Poor’s 500 Index advanced 1 percent, encouraging risk demand.
Benchmark Rates
The target lending rates of 7.5 percent in South Africa and 0.25 percent in Sweden compare with as low as zero in the U.S. The Bank of Japan kept its target interest rate at 0.1 percent at the end of a two-day policy meeting today.
Intel, the world’s largest chipmaker, rose 7.1 percent in U.S. trading after it forecast quarterly revenue will reach as much as $8.9 billion. JPMorgan and International Business Machines Corp. are among other companies in the S&P 500 due to report results this week.
“There is a sense that optimism-driven trading is re- emerging,” said Daisuke Uno, chief strategist in Tokyo at Sumitomo Mitsui Banking Corp., a unit of Japan’s third-largest banking group. “The forecast-beating results from Goldman Sachs and Intel suggest the yen will weaken and stocks will advance.”
U.S. Output
U.S. factory production decreased 0.4 percent in June after a revised 1.2 percent drop in previous month, the Federal Reserve reported today. The median forecast of 73 economists surveyed by Bloomberg News was for a reduction of 0.6 percent.
The Empire factory index, a measure of production in the New York region, fell 0.6 percent in July after sliding 9.4 percent in the previous month, the New York Fed said. Readings below zero signal a contraction. The median forecast of 53 economists surveyed by Bloomberg News was for a 5 percent drop.
The pound rose against the dollar as the U.K. report on jobless claims last month indicated the worst of the recession may be over.
Sterling’s 18 percent drop versus the dollar in the past year has been overdone and investors should buy the currency to prepare for a “steep” economic recovery, according to Stephen Jen, managing director of macro and currencies at BlueGold Capital Management LLP in London.
‘Bearish’ on Pound
“A lot of people seem to be bearish on the pound at the moment because it’s so easy to tell a U.K.-negative story,” Jen said in an interview yesterday. “The country has a very aggressive monetary policy and a cheap currency. And it’s underowned.”
Britain’s currency will have to appreciate to about $1.75 to reflect the U.K.’s economic potential, he said. Sterling increased as much as 1 percent to $1.6467, the highest level since July 2.
China’s foreign-exchange reserves topped $2 trillion for the first time in a sign of the difficulty the nation faces in finding places to invest. The reserves rose a record $178 billion in the second quarter to $2.132 trillion, the People’s Bank of China said on its Web site. That compares with a $7.7 billion gain in the previous three-month period.
The South Korean won rose for a second day, climbing 1.2 percent to 1,278.35 per dollar, while the Indonesian rupiah advanced 0.9 percent to 10,122 and Malaysia’s ringgit climbed 0.5 percent to 3.5652.
The Bank of Japan forecast that the world’s second-largest economy will shrink 3.4 percent in the year ending March 2010, more than the 3.1 percent predicted in April. That would outstrip last fiscal year’s 3.3 percent contraction as the worst in the postwar era. The central bank extended its emergency- credit programs to Dec. 31 from Sept. 30.
Visiters Data
Wednesday, July 15, 2009
Yen, Dollar Fall as Stock Gains on Earnings Pare Safety Demand
Dollar edges up vs yen, steady vs euro on US data
The dollar pared losses against the yen but remained lower against the euro on Wednesday after data showed a slight rise in U.S. consumer prices and improvement in northeastern manufacturing activity.
Both reports added slightly to the more optimistic tone in the market, driven partly by better-than-expected U.S. corporate earnings results so far this week.
The dollar edged up to 93.60 yen JPY= from around 93.40 yen before the data, while the euro was steady around $1.4080 EUR=, up about 0.8 percent from late Tuesday.
EUR/USD - Top of Major Triangle
Price action on EUR/USD, a daily chart of which is shown, made a substantial bullish move as of Wednesday (7/15/2009) morning, but is still in an overall continuing consolidation. This consolidation has taken the form of a triangle pattern, where price has just reached the upper triangle border for a third touch. Any breakout to the upside of this triangle should meet immediate resistance in the 1.4200 region, the level of the last significant high within the consolidation. And any subsequent breakout above that level should easily target major resistance at around 1.4335, the level of the uptrend high and the very top of the triangle. Strong downside support on any subsequent breakdown below the triangle pattern continues to reside in the 1.3750 price region
Read More »»
Friday, July 10, 2009
US trade gap shrinks to nine-year low
The US trade deficit narrowed sharply in May to its lowest level in nearly a decade, led by a plunge in imported oil and a rebound in exports, government data showed Friday.
The deficit fell nearly 10 percent in May to a seasonally adjusted $26bn, the lowest level since November 1999, the Commerce Department said. Most analysts expected the gap would widen to $30bn amid the global recession that has battered international trade. The May deficit was 57.1 percent lower than a year ago, while trade volume grew only 0.4 percent. The Commerce Department lowered the April deficit to $28.8bn from $29.2bn.
The reduction in the trade gap resulted from a slight decline in imports and a stronger increase in exports as the weak dollar made US goods and services more affordable.
With the world’s biggest economy reeling from a prolonged recession, imports fell for the 10th consecutive month, by 0.6 percent, to $149.3bn, their lowest level since July 2004.
Exports, which had fallen for the two preceding months, increased 1.6 percent, their strongest gain since July 2008, to $123.3bn. Exports of goods rose $2bn to $82.1bn, as increases in exports of industrial supplies and materials; foods, feeds, and beverages; consumer goods; and capital goods more than offset a decline in automotive vehicles, parts, and engines.
The goods deficit fell 6.5 percent to $37.3bn. The services surplus rose for the third month running, by 2.1 percent to $11.4bn. A steep 11 percent drop in oil imports accounted for half the decline in the May trade gap. Excluding oil, the trade gap closed 4.7 percent.
The deficit with Canada, the largest US trading partner, tumbled nearly in half in May from April, to $628m, a trough last seen in March 1994. The politically sensitive gap with China, the country’s second-largest trading partner and responsible for more than half of the US deficit, widened 4.4 percent to $17.484bn from $16.754bn in April.
Critics accuse the Asian powerhouse of keeping its currency artificially low to gain a trade advantage. The US trade gap with the 16-nation eurozone halved in May from April, to $2.096bn. With Japan, the deficit narrowed to $1.914bn from $3.218bn
Aussie dollar to weather China spat
The simmering diplomatic spat between Australia and China over the detention of mining company employees in Shanghai is unlikely to have significant fallout for the Australian dollar, analysts say.
While not eliminating the chance that Australia's relations with its biggest trading partner may suffer, the market experts don't see any impact so far.
The China-Rio situation, ''is not an important market mover,'' said RBC Capital Markets currency strategist Sue Trinh. ''There might be speculation that the Australia-China relationship is being strained...but we think the media speculation is overblown and any Aussie weakness on the back of that should fade.''
The Australian dollar has slumped about two US cents since the world learned that China had detained Rio Tinto employees last Sunday, including an Australian Stern Hu. The drop, though, was mostly tied to weaker commodity prices worldwide.
The Aussie dollar was buying 78.2 US cents in early afternoon trading, down from a high of 80.39 US cents on July 7, when Mr Hu's arrest became public.
Mr Hu, along with three Chinese co-workers, is accused of illegally obtaining information that hurt China's national interests.
The detention comes as Rio Tinto and other miners, including BHP Billiton, continue to negotiate new iron-ore contracts with China holding out for a larger cut than the 33 per cent reduction on last year's prices agreed by Korean and Japanese steelmakers.
The arrest also comes just weeks after Rio Tinto rebuffed an $US19.5 billion ($25 billion) investment from state-owned Chinalco.
Market dynamics
Nonetheless, whatever political and economic worries stirred up the situation, the Aussie dollar's fall is more about market dynamics than political rows, said HiFX senior consultant Tom Averill.
''To my mind I don't think there are many people in the market paying a huge amount of attention to the Rio story,'' he said. ''I don't think it's a huge market mover really.''
''Softer commodities and softer equities coming into the end of the quarter'' are the main factors, he said, especially as the bulk of the US reporting season kicks off next week.
The real pressure on the Australian dollar, Mr Averill said, is because it "had come too far too quickly over the previous quarter". Its recent fall ''is just a correction in the trend that people wanted to see.''
Mr Averill sees the dollar falling to as low as 74-75 US cents in the next two weeks. However, in the long term, the Aussie dollar is set to gain as the US dollar declines on investor worries about the state of the US economy and the US government's finances.
Long-term question
Although analysts doubt that recent events between China and Australia will impact the Aussie soon, they say a pattern of rising trade tensions could eventually weigh on its value.
If over time the market views the trade position between Australia and China being threatened, "that could have a downward impact on the Aussie'', ANZ economist Amber Rabinov said.
"We've seen the Aussie trade in recent time increasingly as a play on Asia, particularly if Chinese economic prospects are looking good ... so you could theorise that if this trade relationship was threatened, that would weigh down on the Aussie.''
Canada sheds 7,400 jobs in June, less than expected
Canada's economy lost 7,400 jobs in June - far less than expected - even as the country continued to struggle through an economic downturn.
The unemployment rate rose to 8.6 per cent - an 11-year high - from 8.4 per cent in May, Statistics Canada said Friday.
“Full-time employment continued its downward trend in June, offsetting gains in part-time,” the federal agency said. “Employment was little changed in June, leaving total net losses during the last three months at 13,000, much smaller than the 273,000 decline in the first three months of the year.”
Most economists had expected 35,000 job losses in June, with the unemployment rate rising to 8.7 per cent.
On Thursday, however, Finance Minister Jim Flaherty warned that job losses are likely to continue for the months ahead.
Most analysts forecast the jobless rate will peak at the mid-nine per cent range some time next year.
“In the months ahead, given the very weak backdrop for the Canadian economy, we expect the negative labour market dynamics to continue and the pace of job losses to remain fairly brisk,” Millan Mulraine, economics strategist at TD Economics, said ahead of Friday's report.
Canada's economy shrank 5.4 per cent in the first quarter of this year, its fastest pace of contraction since 1991. That followed a 3.7-per-cent decline in the fourth quarter of 2008. The Bank of Canada expects the economy to contract a further 3.5 per cent in the second quarter of 2009.
On Wednesday, the International Monetary Fund revised its outlook for the Canadian economy, saying GDP is now expected to contract by 2.3 per cent this year, compared to its earlier forecast of a 2.5 per cent decline. The IMF - which monitors the global economy, and provides financial and technical assistance to its 186 member nations - also raised its forecast for 2010 growth to 1.6 per cent from the 1.2 per cent it had predicted in April.
Dollar trades higher on earnings jitters
The dollar climbed Friday as the second-quarter earnings season kicks off and investors continued to move into the safety of the American currency.
The 16-nation euro fell to $1.3947 from $1.4036 late Thursday in New York, while the British pound slid to $1.6192 from $1.6357. The dollar fell to 92.34 Japanese yen from 93.01 yen.
Unrelenting worries over the economy, driven by poor reports on unemployment, consumer confidence and falling commodity prices, have pushed investors into the haven of the dollar and the yen.
Aluminum maker Alcoa Inc. unofficially kicked off the period with better-than-expected results on Wednesday, but a warning from Chevron Corp. late Thursday put investors back on the defensive.
The pace of reports picks up speed next week with results coming in from heavy hitters such as Johnson & Johnson, JPMorgan Chase & Co., Google Inc. and General Electric Co.
Meanwhile, the Commerce Department said Friday the U.S. trade deficit fell to the lowest level in more than nine years in May as exports posted a small gain while the weak American economy pushed imports down for a 10th straight month.
The dwindling deficit reflects the prolonged U.S. recession, which has sharply reduced American demand for imported goods. U.S. exports also are down from last year's peaks, hurting American manufacturers, but those declines have been smaller than the plunge in imports.
Oil prices sank below $60 a barrel Friday on growing pessimism about the economy.
After falling close to $30 per barrel, crude prices had been rising steadily and peaked last week above $73. But dismal jobs numbers suggested energy use will be muted for some time, and prices have tumbled 19 percent since then.
Thursday, July 9, 2009
Canadian Dollar Weakens as Crude Oils Decreases
The Canadian dollar slashed its previous gains as the crude oil fell for a sixth day in a row, on concerns that a longer global slump will damp demand for energy in the U.S., the main destination for Canada’s commodity exportation.
The Canadian currency reached a seven-week low against its U.S. counterpart as its attractiveness declined significantly on concerns that the global slump will be longer than expected, provoking a new wave of pessimism which brought investors to safer positions in the currency market, being the yen, this week’s best performing option so far. The crude oil, Canada’s main export to the U.S. was traded at near $60 in New York, the lowest level since May 26.
USD/CAD traded at 1.1663 as of 23:44 GMT after peaking at 1.1720 in today’s session and remaining stable in the intraday comparison
Yen Drops from Four-Month High on Overprice Speculations
The Japanese yen, which was rallying intensively against all majors after a wave of risk aversion struck markets last week, dropped today as Japanese importers sold the currency led by speculations that after this week’s rally, the yen would be overpriced.
The yen lost today versus all 16 most traded currencies after a Japanese government official affirmed that the current volatility and extreme valuation of the national currency would be unfavorable, stopping immediately the yen’s rally, as investors speculate that the Japanese government may eventually intervene to control further gains of the Asian currency. After speculations appeared last week that the global slump would be deeper and longer, yesterday, the International Monetary Fund predicted a revised global growth for 2010, with rather optimistic figures, encouraging traders to return to higher-yielding options in stocks and in the currency market, consequently damping demand for refuge currencies like the yen and the greenback.
Currency analysts point on charts that the yen’s rally was haste and sharp, and even if being supported by fundamental factors, a correction is a natural consequence after an intense climb. Тhe speculations regarding importers selling the yen to profit also added to the yen’s rally to ease and post the first day of losses since last week’s U.S. jobs report.
Australian Dollar Rises on Better-than-Expected Employment Report
The Australian currency rose against the yen from a seven-week low after a report yesterday indicated that unemployment figures in Australia rose less than forecast, spurring demand for the Aussie, which had lost against all majors since last week’s risk aversion wave.
After losing more than 3 percent yesterday versus the yen and the greenback, the Australian dollar initiated a rebound influenced by domestic and international news. A report yesterday in Australia showed better-than-expected unemployment numbers, which even if still on the rise, did not match rather grim speculations from economic analysts, helping the Aussie to gain. The International Monetary Fund stated yesterday that 2010 global economic growth will be higher than previously suggested, stopping low-yielding currencies like the yen to continue its rally, and finally bringing investors back to higher-yielding positions like Aussie-priced assets, as commodity prices also rebounded slightly this Thursday.
Analysts indicated that fundamental factors, even if not optimal served as an excuse for traders to profit, selling the overpriced Japanese currency and opting back for higher-yielding positions in stock markets and in currencies like the Australian dollar and its Canadian counterpart, which rebounded after severe losses during the past days. The Australian may continue to rebound if positive news, even if slight ones, help risk appetite to rise once again.
Wednesday, July 1, 2009
USD - Dollar Optimism High Following Fed Statements
The USD has begun a rather strong rally during yesterday’s early morning trading hours after the Federal Open Market Committee (FOMC) stated that it may not buy-up further Treasury securities. After climbing to as high as 1.4139 against the EUR the pair now sits near the 1.3950 price level, and seems to have leveled-off. Against the British Pound traders witnessed similar behavior to that of the EUR/USD with a steady climb towards 1.6600 followed by a steady decline back towards 1.6400.
This behavior was likely brought on by a low level of confidence going into the FOMC meeting yesterday which caused a sell-off for the USD. However, with an unexpected show of confidence in the future recovery of the US economy, and statements describing a slowing of the economic contraction, traders viewed the greenback as a solid investment for this turbulent period. As such, the value of the Dollar has been on the rise against almost all the major currencies.
On the other hand, today’s economic calendar is filled with events capable of shifting the momentum into the opposite direction. If the unemployment claims report shows that jobs are still being lost in substantial numbers, and if the Final GDP figures come out worse than expected, this market optimism could suffer a devastating setback. Federal Reserve Board Chairman Ben Bernanke is also due to testify on the acquisition of Merrill Lynch by Bank of America to Congress at 14:00 GMT which will no doubt cause a stir in the forex market directly after his opening statements.
EUR - Euro-Zone Weakens on Poor Data, EUR sees Mixed Results
The EUR began today’s trading session with mixed results against its major currency rivals. Losing ground to the greenback as the US Federal Open Market Committee (FOMC) announced it would not purchase additional Treasury securities, which aroused a surge in the value of the Dollar, the EUR/USD fell this morning towards 1.3950. Contrary to this, however, the EUR witnessed a sharp spike against the Swiss Franc as the Swiss National Bank (SNB) decided to de-value the CHF out of fear of deflation. The pair now trades above 1.5300, up from 1.5000 yesterday.
This week has proven to be a painful trading week for the European currencies as financial data has shown a deepening contraction of the economies in the region. European Central Bank (ECB) President Jean-Claude Trichet warned about budget deficits on Monday while the World Bank declared that the global economic contraction may be worse than conventional forecasts. Tuesday was fraught with a series of poor manufacturing and production reports from Germany and France, and yesterday’s Current Account report only validated Trichet’s earlier estimation that budget deficits were becoming a more looming problem.
From the above information comes a panel of valuations for the EUR which may appear confusing. Against other European currencies, the EUR was largely flat, except for the CHF which was intentionally de-valued. And against the JPY, the EUR has climbed, as the island currency loses strength across the board. Today’s trading will no doubt be dominated by the US Dollar considering its recent surge may come to an end if today’s data proves disappointing. If this is indeed the case, the EUR may find itself on the rebound. Whatever the outcome, today will be a great day for short-term traders as the volatility is certain to be intense.
JPY - Yen Pares Gains as Traders Turn Westward from Europe
After climbing towards important psychological barriers against a number of currencies, the JPY apparently failed to breach on all fronts and is now positioned to lose strength against all of its currency counterparts. Hitting the 95.00 price level against the USD, the pair has now entered an uptrend as the Yen loses out to the Dollar’s recent surge. Against the EUR and GBP traders can see very similar behavior to that of the USD/JPY with a strong uptrend for the JPY followed now by a small, corrective down-tick.
With little news affecting the island currency today, there is a chance that this turn of events was brought on by the relative safety of other assets. With confidence declining across Europe, but gaining strength in the US, measurements of risk aversion and risk appetite appear muted and confused. The aversion to risk throughout the Euro-Zone may have pushed investors into safe-havens, but the strength of the greenback pulled most investors westward to the States instead of Japan. With a number of important manufacturing and inflationary figures being released at the end of Thursday’s session, we may yet see a growth in volatility for the JPY. Traders stay tuned to your calendars today!
Crude Oil - USD’s Surge puts Rising Price of Oil on Hold
The price of Crude Oil was expecting further support yesterday as the USD was being sold off by most investors. The build-up towards the FOMC statement yesterday had many investors anticipating an increase to the purchase of US Treasury securities. When this was not forthcoming, a surge in confidence for the Dollar put Crude Oil’s rebound on hold. The price leveled off around $68.50 a barrel and appears to be standing firm.
The Organization of Petroleum Exporting Countries (OPEC) and the European Union (EU) have recently called for further regulation of the energy market to prevent another bubble from forming in the price of Crude Oil. While stating that recent oil prices are not yet a threat to global economic recovery, the fear of a speculation bubble still looms large in the minds of producers and consumers alike.
With crude inventories in the US shrinking more than anticipated, there is a chance that prices will continue to rise as demand climbs from market optimism and economic growth, and OPEC has even declared that a price range near $80 a barrel is preferable. These factors point to the notion that Crude Oil’s price may stumble across more support in the near future and continue to rise.
EUR/USD GBP/USD USD/JPY USD/CHF AUD/USD EUR/GBP
Daily Trend
Weekly Trend
Resistance 1.4062 1.6551 97.21 1.1058 0.8101 0.8589
1.4031 1.6520 96.99 1.1026 0.8077 0.8555
1.4000 1.6485 96.69 1.0997 0.8050 0.8523
Support 1.3925 1.6411 95.95 1.0923 0.7975 0.8448
1.3896 1.6384 95.63 1.0894 0.7941 0.8413
1.3865 1.6352 95.28 0.0868 0.7912 0.8381
Technical News
EUR/USD
After reaching the 1.4130 level, a technical correction took place today, and the pair is currently traded around the 1.3950 level. However, a bullish cross is taking place at the 4-hour chart’s Slow Stochastic, suggesting that a bullish movement could be initiated. Going long with tight stops might be the right strategy today.
GBP/USD
The cable’s bullish momentum was halted as the pair reached a very strong support level at the 1.6590 level. Currently, a double doji formation seems to be taking place at the daily chart, indicating that a sharp move is expected. As all oscillators on the 4-hour chart are pointing up, it appears that the uptrend could be extended.
USD/JPY
After the “M” formation on the daily chart was completed, the pair has resumed bullish activity and has breached the 96.00 level. It seems that the next strong resistant level is placed at the 97.20 level, which may give traders another opportunity to join the bullish trend.
USD/CHF
The pair saw a remarkable jump yesterday, as it rose over 300 pips in 1 day! However a bearish cross on the 4-hour chart’s Slow Stochastic suggests that a bearish correction might take place today, which could take the pair towards the 1.0850 level.
The Wild Card
Gold
Gold has resumed its bullish trend this week and is currently traded for $935 per ounce. A very distinct bullish channel is formed on the 1-hour chart, and a bullish cross is taking place at the 4-hour chart’s MACD. It seems that this might be a great opportunity for forex traders to join a very popular trend.
Super quiet in the twilight zone
EUR/USD is down 10 pips and USD/JPY is up 10 pips and that’s all there is to report after 2 hours of twilight zone trade. Let’s hope the Asian market has something to do today. JPY crosses might have a modest bid tone after the slight rally on equity markets overnight. On the other hand, if you have an unpleasant chore that you’ve been putting off for the last few days on the excuse that the markets might be just about to move- now’s probably the time to do it.
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EURUSD bids below 1.4100
China saying that they know nothing about a reserve currency debate has the USD slightly firmer this afternoon. EURUSD has had a couple of attempts at 1.4100 over the last hour and a half but has held firm each time. Bids are lined upbetween 1.4080 – 1.4100 and the base should hold in the Asian time zone. Option related bids are at 1.4000 and option related sellers at 1.4200. Here in the middle of the range I would stay away until edges are seen. Under 1.4080 should see us back to low 1.40’s.
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Asian Forex Wrap
China looks set to compromise on Iron Ore prices. BHP and RIO trade higher.
Australian May Balance of Trade -A$556 mio, higher than the expected -A$125 mio.
Japan June monetary base up 6.4% yr/yr.
China’s Vice Foreign minister days he has not heard of China request for reserve currency debate.
USD firmer on the back of China comments.
Asian stockmarkets mixed, HK up 1.5% after yesterday’s holiday.
gold slightly lower at 937.60
The USD gather strength after the comments by China’s Vice Fin minister that he knew nothing about the request for a reserve currency debate. EUR drifted off after the NY close but dropped like a stone once the story came to light, falling from 1.4130 to 1.4100 instantly. We spent the rest of the afternoon trading 14100-20 as bids under 1.4100 held firm. Under 1.4080 we could see a move back to low 1.40’s
USDJPY and EURJPY were very quiet with no major flows seen out of Japan. Stops above 97.10 are reported as are sellers above 97.25.
AUDUSD looked firm early morning but a worse than expected Trade balance number was released falling 30 pips to 8050 immediately. It stayed offered all afternoon with sellers coming down to meet the market at the 8070 area remaining offered for the rest of the day as USD strengthened.
Stockmarkets were mixed but mostly flat as traders tread cautiously ahead of ECB and US payrolls tomorrow.
Ranges:
EURUSD 1.4000 – 14054
AUDUSD 8045 – 8098
USDJPY 96.35 – 71
EURJPY 136.22 – 76
GBPUSD 1.6449 – 16500