EUR

The single currency dipped lower again this morning but stabilized north of 1.3510.

USD

The Greenback is under selling pressure in the afternoon following much weaker than expected retail sales data from the US.

GBP

GBP/USD traded higher this morning, the pair rallied 30 pips on the absence of any specific economic data.

CHF

The CHF gains against the euro today as investors search for a safe haven with equities on the retreat and the increasing violence in Iraq.

JPY

The yen is trading sideways against most of the majors ahead of the 2 day BoJ meeting.

CAD

Capacity utilization was unchanged in Canada - the loonie is flat for the day.

AUD

AUD/USD was stronger after the RBNZ rate hike but could not hold the gains as employment data disappointed from down under.

NZD

The kiwi dollar is the winner of the day after the RBNZ hiked rates by 25 basis points.

XAU

Gold is approaching 1265 USD key horizontal resistance (see daily chart). A close above that level would be bullish.

EUR

Euro weaker against a basket of currencies. EURUSD was unable to take 1.3521 levels that has been offering support all through the day. The euro was weaker also against the GBP.

USD

While close to flat against the euro, up to the time of writing. The USD was softer against the stronger Japanese Yen. The currency pair slipped to daily lows of 101.86. We had ni major data out of the US today.

GBP

In Britain Unemployment rate eased further to 6.6% after the reported 6.8% last Month. The GBP was overall in positive territory when seen against a basket of currencies.

CHF

Swissie heads south

JPY

The JPY continues to garner support as speculation runs high ahead of BoJ meeting. The BoJ is not expected to to expand stimulus in this upcoming meeting.

CAD

Loonie extended its winning streak against the buck as spread between US yields and Canadian yields narrowed in favor of the CAD. USD/CAD recorded five consecutive days with lower highs.

AUD

Aussie gained against the greenback but was under pressure versus its commodity-linked rivals. AUD climbed higher from speculation that the central bank will delay raising rates to curb the currency’s strength.

NZD

Kiwi was buoyed ahead of the RBNZ policy meeting but traders grow concerned that policymakers may turn their focus on the strength of the NZD and stop its rise.

XAU

Gold extended its gains from yesterday touching $1’265.37 on Wednesday.

EUR

We saw some early gains in the single currency but no follow throuigh to the upside. Sellers stepped in and pushed EUR/USD back towards the 1.36 level in a very quiet market. Sentix investor confidence came in below expectations for the euro zone.

USD

The week started negative for the USD but we have seen losses reversing since this morning and the Greenback is now mostly positive against the majors.

GBP

GBP/USD was higher this morning but could not hold the gains. Cable trades back down towards the low 1.68s. There was no major GBP related news as it is a holiday.

CHF

It is a public holiday in Switzerland and most European countries and there is nothing going on in the Swissie

JPY

USD/JPY trades in a very narrow range on Monday without any major move. Key support is 102.10 and key resistance is 102.80.

CAD

It is a very slow start into the new week, also for the loonie. USD/CAD is a bit lower but the moves are rather limited.

AUD

The Aussie dollar trades sideways since this morning, there is a lack of catalysts and participation today as it is a public holiday in many Christian countries around the globe.

NZD

The kiwi dollar is hovering just above the 0.85 level after retreating late on Friday from 0.8560.

XAU

Gold is trapped within the 1250:56 USD range. A breakout today is rather unlikely.

EUR

We saw some profit taking kicking in this morning after Thursday`s big reversal day in EUR/USD. After the in-line NFP data the pair made a new high for the day but no follow through to the upside yet.

USD

The non farm pay roll were pretty much in-line with the consensus estimate. The USD was under a bit of selling pressure after the data but the move was limited to roundabout 20 pips in the majors. The unemployment rate came slightly better than expected at 6.3 %.

GBP

Cable gained this morning after the UK trade balance data but is giving back most of the gains since the beginning of the American session.

CHF

Swiss m/m CPI data for the month of May came in at 0.3% versus expectations of 0.2% this morning

JPY

The yen gained a few pips against the USD after the NFP data but now trades at pre-data levels as the move did not persist. Overall todays data had a rather limited impact on major FX pairs.

CAD

The loonie is on the retreat after a mixed employment report from Canada this afternoon. USD/CAD trades at the high of the day above 1.0942 and continues the positive trend since the beginning of the week.

AUD

The Aussie dollar took the important 0.9340 resistance today. A daily close above that level would be bullish going into next week.

NZD

The kiwi dollar rises strongly for the second day in a row. NZD/USD trades at 0.8530 after hitting 0.8550 earlier today.

XAU

Gold traded higher after the in-line with expectations employment report. But there is no upside follow through above 1255 USD

EUR

The much anticipated ECB decision is finally out - the European Central Bank lowered interest rates to 0.15 %. The single currency is selling off across the board after the announcement. EUR/USD dived 100 pips to a low near 1.3505 before bargain hunters stepped in and pushed the pair back up above 1.3540.

USD

Weekly jobless claims were in-line with expectations this afternoon, we do not see heavy USD related flows ahead of tomorrow's employment report from the US today. The action is EUR driven today.

GBP

The Bank of England left interest rates and their asset purchase program unchanged - no surprise there. Sterling is unchanged against most of the majors (apart from gains against the EUR of course).

CHF

EUR/CHF dipped back below the 1.22 level after the ECB interest rate decision.

JPY

The yen consolidates against the USD today after the losses which occurred earlier this week, USD/JPY remains in the anticipated range. See morning forecast for details.

AUD

The Aussie dollar is one of the winners today as AUD/USD takes out the fisrt key resistance at 0.9300. Next resistance is in the 0.9330:40 area.

NZD

The kiwi dollar rises in sympathy with the AUD today, there was no special NZD related news.

XAU

Gold takes out the 1250 USD level after the ECB interest rate decision - if this level holds now we could see a larger technical bounce in the shiny metal.

EUR

The much anticipated CPI Flash Estimate this morning from the euro zone came in at 0.5% versus the consensus of 0.7%. This underlines the deflationary pressures existant in the euro zone and will very likely force the ECB to act on Thursday. EUR/USD is bouncing off the 1.36 level since the beginning of the American session.

USD

Factory orders from the US are due at 4 pm CET. So far we have seen a mixed day for the Greenback.

GBP

The construction PMI from the UK came in a bit short of the expectations this morning - nevertheless sterling reacted positively to the news and GBP/USD surpassed Monday`s high after the data was published.

CHF

There was no Swissie related news on Tuesday and the CHF related pairs traded in a comparatively narrow range.

JPY

The yen weakness continues on Tuesday despite the fact that the monetary base in Japan did not expand as much as the estimate (data out this morning).

CAD

The loonie dropped on Monday against the Greenback. We see this trend continuing as USD/CAD traded again above 1.09 on Tuesday. Tomorrow we expect trade balance data from Canada.

AUD

The Aussie dollar recovers a major part of Monday`s losses today after the RBA interest rate decision and retail sales from Australia.

NZD

The kiwi dollar rises on Tuesday supported by the recovery in the AUD and very solid macro data from China published this morning.

XAU

Gold remains below 1250 USD per ounce on Tuesday. As long as the shiny metal remains below that level traders should prefer short positions.