April 11, 2014

Brief Information about Foreign Exchange Rate Movement

                                                                                                            New York Market

EUR/USD edged 0.22% higher to close at 1.3886. The euro continued to make gains against the dollar but the pace of gain is becoming limited as investors took cautious move amidst the speculation that policymakers may roll out more stimulus. On Thursday, Jens Weidmann, the Governor of Bundesbank reiterated that prolonged low inflation may require ECB to make its move.

USD/JPY declined 0.45% to 101.45. The dollar made significant loss against the yen after U.S. stock markets fell sharply last night, giving a slight boost to safe-haven asset price like the yen.

                                                                                                                  Asian Market

Asian currencies mostly trimmed gains from the previous days. The rupiah declined slightly after several-day gains; market jittered some uncertainties about Indonesia’s political development that the opposition party may not have enough vote to nominate the favorable candidate as Indonesia’s next President. Korea’ won declined but remained close to its  6-year high level, following the demand from offshore funds; it was reported that policymakers tried to verbally curb the speculation, making won retreat from the earlier gain. Philippines’ peso increased significantly by 0.38% as Philippines reported upbeat export data for February while two-year high foreign direct investment also added to markets’ positivity.

USD/THB increased 0.26% to32.28. Thai baht reversed the previous days’ gain. BoT’s speaker stated that Thai baht continued to move in line with other currencies in the region. Stock markets saw continuous inflows (THB828mn) while there was an influx of large foreign money into bond market (THB9.78bn).

 

 

Today Market Direction at 8.30 A.M.    

KBank Technical Analysis

Morning

Rate

Support

Resistance

Trend (Major)

Today's Strategy

USD/THB (Onshore)

32.31

32.20

32.45

Sideway

Buy  USD near resistance

USD/JPY

101.58

101.35

101.90

Sideway

Sell USD near resistance

EUR/USD

1.3892

1.3860

1.3930

Sideway

Buy EUR near support

 

EUR/THB

44.83

44.55

44.70

Sideway

Buy EUR near support

JPY/THB

0.3181

0.3150

0.3220

Sideway

Buy JPY near support

 
 

 

 

 

 

 

 

 

 

       

 

 

    

 

 

 

 

 

 

 

 

 

 

     

 

 

 

 

 

 

  

 

   

 

 

  

 

 

 

 

 

    

 

 

    

 

  

 

 

 

 

 

  

 

 

 

 

 

 

 

 

   

 

    

 

 

 

 

 

 

      

 

 

 

 

 

 

 

 

Foreign Exchange Market News
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