WWM - Analytics

    WWM

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    Forex Charts: Euro Rose to 1.0830, AUDUSD Fell to 0.6970, USDCAD Rallies to 1.4220

    EURUSD: The euro initially made a modest rebound to 1.0835 from the well supported level of 1.0790 ( 40 pips) on the intraday chart. However, the Jan German IFO Jan Business Climate Index came out lower than expected at 107.3 versus the median forecast of 108.5. (Dec 108.7) which took the euro lower to 1.0812 in the European morning session. Risk off sentiment has returned as equity gains reversed.

    AUDUSD: The aussie dollar fell from the toppish level of 0.7030 to 0.6965 (-65 pips) as aussie-yen cross selling weighed heavily on the aussie. AUDJPY fell sharply from 83.50 to 82.45 (-105 pips) on yen buying interest. Nikkei closed 0.90%, 152.38 points to 17,110.91.

    GBPUSD: Sterling failed to break the 1.4310 resistance level and a correction pullback pushed it down and broke the 1.4250 support line and pushed it lower to 1.4230 as the European equity markets reversed earlier gains as the price of crude oil fell to the 31.25 level. FTSE is -0.04% at 5,897.45 as of 11:15 GMT. DAX -0.02% at 9,762.84, Euro Stoxx -0.16% at 3,018.45.

    USDCAD broke the monotonous 1.4140 -1.4125 late Asian session level and rose to 1.4220 ( 90 pips), the rally took place in early Europe as the price of crude oil fell once again back to the 31.50 level. The 1.4220 top was quickly met with profit taking sellers.

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