EUR

The EUR is dropping like a stone on Friday after comments from ECB member Mersch who was quoted saying the the euro zone is not out of crisis yet.

USD

The USD is recovering some of the FOMC induced losses on the absence of any specific news.

GBP

Public sector net borrowing from the UK was in-line with expectations today.

CHF

No specific news for the Swiss franc.

JPY

The yen is under selling pressure on Friday as equities trade near their highs.

CAD

The loonie is the winner of the day on Friday after better than expected macro data from Canada.

AUD

The Aussie dollar pauses in its up trend and retraces some of Wednesday`s gains. Key support here at 0.9385.

NZD

The kiwi dollar is lower on Friday but still holds the up trend.

XAU

We see a technical correction on Friday after yesterday`s 3 % rally.

EUR

The single currency gains against the USD and the JPY but loses slightly against the GBP.

USD

The Greenback is under selling pressure across the board after Janet Yellen was as dovish as a Fed Chairperson during the FOMC press conference last night. Interest hike talk was certainly not on the agenda.

GBP

The pound gains against the USD since this morning, UK retail sales came in-line with expectations.

CHF

The Swissie gains strongly today after the SNB press conference this morning. EUR/CHF is down again.

JPY

The yen is gaining against the USD but loses ground against the other majors.

CAD

The loonie profits from the dovish stance of Yellen. Commodity currencies gained the most in the last 24 hours.

AUD

AUD/USD staged a 100 pip rally from the key horizontal support at 0.9320.

NZD

NZ GDP came in below the consensus this morning. The kiwi dollar under performs the other commodity currencies today.

XAU

Gold is rallying strongly and is approaching the key 1300 USD level after the FOMC decision yesterday.

EUR

There was no economic data this morning from Europe, the single currency was slowly crawling higher against the USD but flat elsewhere apart from gains against the GBP.

USD

We see some minor profit taking in USD related pairs such as EUR/USD, USD/CHF or USD/JPY following Tuesdays gains ahead of tonights FOMC decision which is due at 8 pm CET. The current account deficit was larger than expected.

GBP

Sterling is lower across the board on Wednesday after the BoE monetary policy vote was unchanged. The minutes did not reveal anything new and the voting of the members did not change.

CHF

ZEW economic expectations for Switzerland came in well below the consensus this morning. First signs of weakness in the Swiss economy?! The CHF is unimpressed and gains against the EUR on Wednesday.

JPY

The yen is stabilizing somehwat after Tuesday`s losses against the Greenback. USD/JPY is testing 102.10 support at the beginning of the American session.

CAD

Wholesale sales from Canada surprised positively this afternoon - traders react with CAD buying.

AUD

The aussie dollar stabilizes above key support at 0.9320. Will we see another leg up from here? Please see the daily forecast for details.

NZD

The kiwi dollar is consolidating near the highs in the 4 hour chart - this is bullish and suggests further upside action ahead.

XAU

Gold recovers after Tuesday`s di but still trades below key resistance near 1285 USD.

EUR

The ZEW index this morning disappointed slightly and the recovery in the single currency stalled again. EUR/USD remained below key resistance at 1.3586.

USD

The USD gains across the board after higher than expected inflation data from the US in the afternoon. Market talk is now for a bigger than anticipated tapering tomorrow. In any case - the data is supportive for the Greenback.

GBP

Inflation data from the UK came in softer than analysts had expected this morning. We saw initial Sterling selling but no follow through to the downside in most GBP related pairs.

CHF

PPI m/m data from Switzerland came in at 0.1 % versus an expected 0.0%. The impact on the CHF was limited though.

JPY

The yen is losing against the Greenback today but is flat against the EUR. European equities recover some of the losses from the past three days.

CAD

The loonie is flat against most of the majors but loses substantially against the Greenback today.

AUD

The AUD is the loser of the day following the RBA minutes this morning.

NZD

No specific news for the kiwi today - in comparison to the neighbouring AUD the kiwi is comparatively strong on Tuesday.

XAU

Gold lost almost 30 USD from Monday morning's high. The bullish breakout did not take place.

EUR

We see an unusually high volatility for a Monday. After a positive start EUR/USD lost 35 pips to test last week's low. Starting from there we saw a steady rise which culminated in new highs for the day near 1.3570 after a Bloomberg story saying that the ECB will refrain from further easing measures during the next few months.

USD

We saw early gains this morning in the Greenback but no follow through buying. Empire Manufacturing Index and Capacity Utilization in the afternoon were both positive and should lend support to the USD.

GBP

Cable rallied this morning to a fresh multi-month high above 1.7010 before profit taking kicked in. Sterling is still higher for the day against most of the majors.

CHF

The Swissie profits from safe haven flows on Monday, supported by the rising tensions in Iraq.

JPY

The yen loses on Monday after early gains due to safe haven flows. USD/JPY could rise from here if 102 yen gets taken out today.

CAD

The loonie regains some lost terrain after data has shown higher than estimated foreign security purchases in Canadian assets this afternoon.

AUD

The Aussie dollar is on the retreat on Monday after another failure at 0.9410 resistance.

NZD

We see some profit taking in the kiwi dollar on Monday. Not a surprise after last weeks interest rate hike induced rally.

XAU

Gold is giving back most of its gains from this morning since the beginning of the American session.

EUR

The bounce which started on Thursday at 1.3511 saw some follow through buying this morning. Starting from horizontal resistance at 1.3580 we saw a steep decline after lunch. We mentioned that resistance in our forecast this morning.

USD

The USD is gaining against the EUR and the JPY today despite weaker than expected inflation data from the US this afternoon. Later on today we expect the consumer confidence index of the University of Michigan.

GBP

Sterling is profiting from comments from BoE governor Carney who was quoted that interest rates could rise rather sooner than later. Cable approached the widely watched 1.70 level this morning but could not surpass that level.

CHF

Not much going on in the Swissie related pairs on Friday.

JPY

We see yen losses in the afternoon in-line with a recovery in European equities. USD/JPY jumps above 102.10 despite the weaker inflation data from the US.

CAD

The loonie is on the retreat this afternoon after weaker than expected Manufacturing Sales from Canada. The early CAD strength seen this morning did not persist.

AUD

The Aussie sees some profit taking going into the weekend after a 2-month high at 0.9440 was hit on Thursday.

NZD

After a 150 pip rally following the RBNZ rate hike we see profit taking in the kiwi dollar on Friday. Nothing dramatic though.

XAU

We saw some early follow through buying in the price of Gold. This weeks gains are largely attributed to safe haven flows.