EUR/USD’s rebound was limited at 1.4196 last week and weakened sharply since then. Note that momentum of the rebound from 1.3747 was so far quite unconvincing. The structure of such rise also looks corrective. Hence, while 1.3747 support still holds, we’re cautiously preferring the case that it’s already completed at…

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USD/JPY’s rebound was short lived and was limited at 96.96 weakened again. The pair is still bounded in range above 94.87 and the development so far dampened the immediate bullish view that fall from 98.87 has completed at 94.87 already. We’ll stay neutral for the moment. On the downside while…

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Despite edging higher to 1.6742 early last week, GBP/USD failed to sustain above 1.6661 resistance and reversed back into prior range. The development argues that the rise to 1.6742 was a terminal impulse and after triangle consolidation and thus GBP/USD has topped out already. However, this is not confirmed by…

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USD/CHF pull backed to 1.0712 last week but rebounded strongly since there. The break of 1.0889 minor resistance argues that such pull back is completed already. Hence, initial bias is mildly on the upside this week for 1.1021 resistance first. Break will confirm that whole rise from 1.0590 has resumed…

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German industrial new orders could have remained more or less unchanged in May, as the correlated indicators sent mixed signals. However, April new orders are likely to be revised downwards significantly. Output in the German producing sector will probably have decreased in May, just like most of the correlated indicators….

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We got some mixed news out of China this past week with regards to the US dollar’s reserve status and the potential for it to be discussed at the upcoming G-8 Summit on July 8-10. On Wednesday we saw headlines that China has asked the group of eight to discuss…

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The data picture over the past week was a bit of a mixed bag and overall disappointed markets. Equity markets slipped and bond yields fell further. Although there were no very negative numbers and the trend is still for improvement, most data were slightly below consensus expectations and market doubts…

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This week’s economic numbers may have finally brought an end to the green shoot rally. There is only so far “less bad” economic news can take us. A sustainable recovery will require things to actually get better. This week’s big disappointment was the weaker employment data. Nonfarm payrolls declined by…

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In this holiday shortened week where barbeques and fireworks will no doubt light up the American landscape come Saturday, the economic data refused to take any part in festive preparations. This is despite an understandably eager media and public who continue to await signs of real recovery, akin to kids…

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