May 26, 2015

Brief Information about Foreign Exchange Rate Movement

 

 

New York Market

           

EUR/USD slipped 0.34% to 1.0978. The dollar held one-month highs against a basket of major currencies amidst the sluggish session on public holidays in the U.S. and Britain. The ECB’s stance to maintain its massive stimulus, along with ongoing Greece’s financial woes, should keep the euro pressured against the greenback. Greek officials admitted that they do not have sufficient funds to repay IMF debt amounting to EUR1.6bn in June, as it will have to make monthly wage and pension this week.

 

USD/JPY was barely changed at 121.56. The dollar held a firm ground near a two-month high at 121.78 against the yen, jumping from the low of 120.64 on Friday. The stronger-than-expected underlying U.S. inflation bolstered the case for the Fed's interest rate hike. Janet Yellen's comments that the central bank is on track for raising also supported demand for the dollar.

 

Asian Market

 

Asian currencies eased against the dollar while the dollar stays well-bid. The higher U.S. borrowing costs also undermined the attractiveness of higher yields in emerging Asia. The Singapore dollar touched a one-month low after the data pointed to consumer prices dropping the most since last 2009 by 0.5%YoY in April from a 0.3% drop in March. The rupiah retreated further on the back of dollar demand from importers for month-end settlement.

 

USD/THB rose 0.32% to 33.59. Thai baht declined as investors cut long positions from one of the best-performing Asian currencies last week. Markets will eye on Thai custom export data today which is still expected to fall by 3.30%YoY in April, the fourth consecutive month of contraction. The flow of U.S. data tonight will also confirm if the bullish dollar would regain momentum.

 

 

Today Market Direction at 8.30 A.M.

   

KBank Technical Analysis

Morning

Rate

Support

Resistance

Trend (Major)

Today's Strategy

USD/THB (Onshore)

33.64

33.50

33.75

Sideway

Buy USD near support

USD/JPY

121.77

121.00

122.25

Sideway

Buy USD near support

EUR/USD

1.0933

1.0850

1.1000

Sideway

Sell EUR near resistance

EUR/THB

36.74

36.50

37.25

Sideway

Neutral

JPY/THB

0.2763

0.2700

0.2850

Sideway

Neutral

  

  

 

Foreign Exchange Market News
There are no items to show in this view of the "Documents" document library.


Site Map | Privacy Policy | Disclaimer | ©2014 KASIKORNBANK PCL. All rights reserved.
1 Soi Rat Burana 27/1, Rat Burana Road, Rat Burana Sub-District, Rat Burana District, Bangkok 10140, Thailand. Telephone: +662-8888800 Telefax : +662-8888882