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YEN STILL DOING IT as the mere sign of profit-taking in global bourses, sends yen crosses falling across the board. AUDJPY proved once again unable to break the trendline resistance of 77.70s, extending from the June 21 high. And with AUDJPY Daily stochastics showing a negative cross-over, prelim...

WHEN MARKETS TAKE A BREAK from the recent selloff, FX traders pick among USD, JPY and CHF as the safe haven currencies to sell. JPY is hit hardest on a combination of a bounce in Asia and European futures after the Jpns govt urged the Bank of Japan to ease the yen as part of an upcoming stimulus...

US RETAIL JUL SALES +0.4% as gains were concentrated in Autos and rising gasoline prices, but when exluding autos/gas/building materials, we get a 0.1% decline, which is the first since April. Equities will likely hover in and out of positive territory until the preliminary (14:55 GMT) release of...

YEN EXTENDS PULLBACK as markets stabilize, while CHF takes over from the Japanese currency, reminding us the Swiss safehaven is here to stay. The latest comments from Japanese officials about excessive yen moves have not been sufficiently potent as markets widely believed intervention will not be...

YEN STRENGTH EXTENDED overnight after Japanese govt officials said a rising yen should be dealt with monetary policy rather than intervention. The 158-pt decline of the Nikkei-225 is largely the result of currency strength. As European equities and US futures dip into negative territory; EURJPY,...

US Consumer confidence fell 4 pts in July, but remains above 50, which may sustain major equity indices above their 200-day MAs. GBPUSD touches its 200-day MA for the 1st time since January, with momentum remaining positive for a retest of $1.5580 and $1.5620. EURUSD 4-hr run the risk of calling...

BERNANKE's "UNUSUALLY UNCERTAIN" label for the US economic outlook was sufficiently uncertain to scare away US and Asian markets but it is important to bear in mind that EURUSD closed the US session at $1.2756, which is ABOVE the trendline support of $1.2745-50 noted in the prior IMT. This means...

GOLDs LOWER HIGHS testing the 100-day MA of 1180 but with the price and stochastics suggesting $1,220 is behind us for now and the next downside target stands at 1165-70, a break of which could lead to 1120. The main drivers of a fresh gold rally remain 1) renewed Euro crisis/bad news on stress...

CAD DROPS ACROSS THE BOARD on combination of a dovish rate hike from the Bank of Canadas and broadening risk aversion. The BoC did raise rates to 0.75% as was expected but cut its 2010 GDP growth forecast to 3.5% from 3.7%, while indicating Canadian housing activity declining markedly. USDCAD...

Yen strength is here to stay especially as the US dollar's safe-haven lustre is eroded by the worsening US data. ...

MARKETS SLUMP after Citi misses earnings and the July Univ of Michigan consumer sentiment survey plunged 9.5 pts to a 16-month low of 66.5. GBPJPY extends its plunge to 160 pips from yesterdays levels, eyeing 131.70. CAD is the WORST PERFORMER and JPY is the BEST PERFORMER as oil makes another...

UK UNEMPLOYMENT fell by 20.8K in June after a 31K decline in May with the unemployment rate dropping to 4.5%--lowest since March 2009. The robust figures may not dispel doubts over the impact of upcoming decline in falling public sector jobs. The weaker than expected 2.7% increase in average...

STERLING DROPS by S&P's remarks that it is maintaining its negative outlook on the UK and that further rise in UK public debt burden would bge incompatible with AAA rating. *** EURJPY HOT CHART IS NOW READY *** http://bit.ly/9wr4nf ......

EURJPY HOT CHART IS NOW READY http://www.ashraflaidi.com/hot-chart/?a=1711 ......

EURJPY 5% month-to-date recovery looks . . . vulnerable to a downward correction as the uncertainty from US corporate earnings meets overlaps with the multi-faceted interpretation of the Eurozone...

The USD and JPY cylinders are burning thru the markets again, with USD holding an edge of JPY due to the tensions between the 2 Koreas. But this may be a shortlived calm before the next JPY storm, paving way for 108 in EURJPY, 127.80 in GBPJPY and 83.60 in CADJPY. USDJPY still trades w/in the...

Last weeks EURUSD break below the 1.2700 area, if confirmed on a monthly close could have potentially bearish consequences for the single currency from a technical standpoint. Given the unprecedented size of the bailout from an EU perspective, as well as an IMF point of view, the market...

GBP is the day's weakest currency and JPY is the strongest out of a group of top traded 12 currencies. GBPUSD hits fresh session lows despite the strongest UK construction PMI in over 2 years. PM Gordon Brown is expected to formally call the election on May 6. Mixed opinion polls are said to be...

INTENSIFYING RISK AVERSION boosting JPY at the top of the ranks in currencies, followed by USD then CHF. We warned in prior IMT that Indias rate hike as well as anticipated tightening from the Fed (discount rate) and China (actual rate hike not reserve requirements) will weigh on risk aversion....

DOUBLE ASSAULT on risk appetite as Fitch downgrades its rating on Greeces 4 biggest banks right before US consumer confidence plunges to 10-month low at 45 from a revised 56.5. We warned on Twitter.com/alaidi 40 seconds after the breaking news on consumer confidence that the figures were widely...

Cable down a full cent after BoEs inflation reaffirms temporary nature of the recent inflation rise and confirming sub-2.0% inflation by the end of the usual 2-year forecast period. GBPUSD mayhave broken above $1.57 but FAILED the $1.5790 TREND LINE RESISTANCE, now calling for interim support...

Finally, EURUSD shows signs of life (albeit short-lived) starting with a . . . sell-off prompted by an overall market after Fitch said UK was the most vulnerable AAA sovereign, only for EUR to rally...

Global Markets sell-off intensifies, sending USD and JPY soaring cross the board, but YEN gets the best of USD as the pair targets 88.30, 61.8% retracement of the 84.85-93.76 move. One of the main culprits was the Portuguese-German 10 year spreads hitting a fresh 11-month highs of 156 bps on...

GBP fails to hold near its $1.6457 high session, retreating back to the $1.6350s as USD strength intensifies across the board despite rallying US stocks. While the EURUSD confirms its downtrend via its Dead Cross (50-day MA falling below 100 day MA), USD Index is close to attaining its own Dead...

Equities looking for a last minute rally before the start of the Holidays amid improved macro data in and outside the US but the implications for the USD are no longer straightforward. The $1.4270 low in EURUSD is unlikely to serve as a lasting support in the midst of the credit challenges in the...

The US DOLLAR is little changed from where it stood 24-hours ago, but YEN STRENGTH extends across the board, dealing further damage to EURJPY, AUDJPY and EURJPY. The lower highs in AUDJPY and NZDJPY have formed a clear downward trend line from the Oct 23 high and daily stochastics suggest...

Japanese equity indices among the best-performing Asian indices despite in Monday despite US indices having paired their gains in the Friday session. FX on risk aversion mode as EURUSD gets close to that important support of $1.4830, cable vulnerable to test $1.6380 and oil prominently unable to...

Markets await the ECB press conference and latest forecasts from the ECB, which we do not expect to move the markets. An already strong EURUSD pair will not cause the central bank to signal any new hawkishness. US jobless claims and Bernankes testimony are the more important events of the day, as...

YEN's PERFECT STORM as the Japanese currency soars on a combination of unexpected decline in Japanese unemployment and falling equity futures following the Dubai fallout. USDJPY HIT 84.84, AUDJPY drops 200 pips in 55 mins to 76.55, EURJPY down 300 pips below 127 and GBPJPY tumbles by 500 pips to...

FX markets show unusual occurrences as USD and JPY stand at opposing sides of the return spectrum. USD is the worst performing currency of the day (USD falling to fresh 11-month lows) and JPY is the second highest performer (just behind AUD). Yesterdays FOMC minutes describing USD decline as...