February 11, 2016

Brief Information about Foreign Exchange Rate Movement

 

 New York Market

   

 

EUR/USD increased by 0.01% to 1.1293. The Euro gains started to diminish as concerns over the health of the European financial sector continued to weigh on the market. Investors continued to pull out of European equities, even though the German finance minister reassured the market that Deutsche Bank was ‘rock solid’.

 

 

GBP/USD increased by 0.32% to 1.4523. The pound strengthened against the dollar, as the Federal Reserve chair signaled that continuing market turmoil may hurt the prospects of multiple rate hikes this year. Furthermore, next weeks European Union summit will further clarify the prospects of Brexit, thus, affecting the pound accordingly.

 

 Asian Market 

    

Asian currencies mainly strengthened against the dollar as comments from the Federal Reserve Chair, Janet Yellen, gave markets reasons to believe that the next fed hike will not come as soon as expected. As a result, even though oil prices continued to drop, Asian currencies rallied against the dollar, with USD/IDR and USD/KRW leading gains by 1.39% and 1.10%, respectively.

 

USD/THB decreased by 0.30% to 35.41. The baht continued strengthening against the dollar as expectations of the next rate hike were largely diminished.

 

Today Market Direction at 8.30 A.M.

              

KBank Technical Analysis

Morning

Rate

Support

Resistance

Trend (Major)

Today's Strategy

USD/THB (Onshore)

35.25

35.25

35.50

Sideway

Sell USD near resistance

USD/JPY

112.56

112.25

112.90

Sideway

Sell USD near resistance

EUR/USD

1.1315

1.1285

1.1340

Sideway

Buy EUR near support

EUR/THB

39.85

39.60

40.30

Sideway

Buy EUR near support

JPY/THB

0.3132

0.3100

0.3165

Sideway

Buy JPY near support

   

                        

 
Foreign Exchange Market News
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