September 20, 2016

Brief Information about Foreign Exchange Rate Movement           

 

EUR/USD increased 0.12% to 1.1175. The euro appreciated against the dollar as market trade with cautious ahead of the Fed’s meeting. Yesterday, dollar has appreciated against most currencies as market expected the Fed’s to keep its rate on hold.

 

USD/JPY fell 0.33% to 101.93. The yen appreciated against the dollar as market doubts that the BOJ will be implementing more easing measures to help depreciated the currency; while on the other hand, market also expected the Fed to hold its rate in this week meeting.

 

GBP/USD increased 0.22% to 1.3030. The pound appreciated against the dollar as dollar depreciated against most currencies due to the expectations that the Fed would not raise interest rate this week.

 

Asian currencies mostly appreciated against the dollar as the dollar fell ahead of Fed’s meeting. The market expected Fed to hold its rate this meeting, as it saw the chance of only 20% in September meeting.

 

USD/CNY fell 0.04% to 6.667. The yuan appreciated against the dollar following other Asian currencies movement as the trading resumed after the holidays. The PBOC has sets the USD/CNY mid-rate at 6.6786 strengthened from previous session.

 

USD/THB declined 0.32% to 34.82. The baht appreciated against the dollar following other Asian currencies as large portion of the market expected Fed’s to hold its policy rate in this week meeting. Yesterday, we saw outflow in stock market, with foreign investors as a net seller of 3,442 million baht, while, they were a net buyer in Thai bond market of 1876.6 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)

34.81

34.75

35.00

Sideway

Sell USD near resistance

USD/JPY

101.94

101.50

102.50

Sideway

Neutral

EUR/USD

1.1174

1.1130

1.1200

Sideway Down

Sell EUR near resistance

EUR/THB

38.90

38.65

39.15

Sideway Down

Sell EUR near resistance

JPY/THB

0.3415

0.3392

0.3439

Sideway

Neutral

       

                           

Foreign Exchange Market News
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