July 27, 2016

Brief Information about Foreign Exchange Rate Movement             

 

EUR/USD declined 0.07% to 1.0987. The euro slightly depreciated against the dollar, as dollar strengthened from the better than expected new home sales. New home sales increased 3.5%MoM in June. Moreover, the US consumer confidence index held steady at 97.3 in July despite concerns from BREXIT.

 

GBP/USD declined 0.08% to 1.3131. The pound slightly weakened against the dollar after Bank of England policy maker saw that the UK need immediate stimulus to help economy.

 

USD/JPY fell 1.09% to 104.66. The yen appreciated against the dollar after the previously announced fiscal stimulus package could fall short of market expectations. According to a Nikkei report figure of stimulus could be around 6 trillion yen over the next few years. Moreover, the recent comment from Japan’s finance minister reflected that the government did not put much pressure on BOJ for further easting.

 

Asian currencies  mostly strengthen against the dollar as market expected the Fed to keep its policy on hold on this Wednesday meeting, despite better than expected housing data from the US yesterday.

 

USD/CNY declined 0.05% to 6.67. The yuan slightly appreciated against the dollar following the better credit conditions data that was released by HSBC. The China Monetary Conditions Indicator rose to a 5-year high in June as bank lending improved and the yuan are more stabilized.

 

USD/THB  declined 0.13% to 34.99. The baht appreciated against the dollar following other Asian currencies, as market expect Fed to hold its rate on Wednesday, as foreign investors increased their position in Thai stock market yesterday of around 2,792.4 million baht.

    

Today Market Direction at 8.30 A.M.

                                                        

KBank Technical Analysis

Morning

Rate

Support

Resistance

Trend (Major)

Today's Strategy

USD/THB (Onshore)

35.00

34.90

35.10

Sideway

Sell USD near resistance

USD/JPY

105.13

104.00

106.00

Sideway Up

Sell USD near resistance

EUR/USD

1.0986

1.0950

1.1020

Sideway Up

Buy EUR near support

EUR/THB

38.41

38.20

38.80

Sideway

Neutral

JPY/THB

0.3329

0.3300

0.3370

Sideway Down

Sell JPY near resistance

              

Foreign Exchange Market News
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