March 2, 2015

Brief Information about Foreign Exchange Rate Movement

 

 New York Market

 

 

EUR/USD edged lower 0.02% at 1.1196. The euro was little changed against dollar. The report showed that the U.S. GDP in 4Q/14 was downgraded from 2.6%QoQ to 2.2%QoQ (annualized rate), but still pointed to a moderate economic expansion. This still suggested the Fed could remain on track to raise interest rate. This week, markets will eye on The ECB’s meeting, especially on further details of the bank’s EUR1.1trn government bond buying program which begins in March.

 

USD/JPY rose 0.16% at 119.61. The yen retreated after the data showed Japan’s core inflation (excluding fresh food) slowed further from 2.5%YoY to 2.2%YoY. The yen moved in range 119.09-119.79 a dollar on Friday.

 

 Asian Market

  

Asian currencies mostly lost against the dollar in response to the revival expectations that the U.S. Federal Reserve will increase interest rates as some U.S. economic data came in better than expected: U.S. durable goods and core inflation.  The rupiah hit a near 17-year low, losing by 0.99% on Friday, as investors fuelled expectations for further interest rates cut by the Bank of Indonesia after a surprise slash earlier in late February. The ringgit eased 0.3% although a rebound in oil prices alleviated concerns that falling oil prices may hurt the current account and widen the fiscal deficit. The Taiwan’s dollar bucked the depreciation trend, rising by 0.08%, on the back of stock inflows.

 

USD/THB dropped 0.09% at 32.36. The baht gained against the dollar after the unwinding long dollar positions and net-purchases in Thai bond markets of foreigners provided support for the lower USD/THB on Friday. This week, we expect USD/THB to trade in range between 32.25-32.50.

 

 

Today Market Direction at 8.30 A.M.

 

       

KBank Technical Analysis

Morning

Rate

Support

Resistance

Trend (Major)

Today's Strategy

USD/THB (Onshore)

32.36

32.35

32.50

Sideway

Sell USD near resistance

USD/JPY

119.82

119.50

120.10

Sideway

Buy USD near support

EUR/USD

1.1170

1.1150

1.1200

Sideway

Sell EUR near resistance

EUR/THB

36.12

35.95

36.50

Sideway

Sell EUR near resistance

JPY/THB

0.2701

0.2680

0.2730

Sideway

Sell JPY near resistance

Foreign Exchange Market News
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