March 25, 2015

Brief Information about Foreign Exchange Rate Movement

 

 New York Market

 

 

EUR/USD slid 0.20% to 1.0924. The euro was knocked back below USD1.10 after the dollar rebounded, following bullish U.S. economic reports. Anyhow, Eurozone’s PMIs in both manufacturing and service sector added to signs of improvement. The dollar’s gain was also boosted by the comment from San Francisco Fed President, John William, who reiterated that the strong dollar would drag growth this year, but U.S. economy is strong enough to handle it.

 

USD/JPY was up 0.03% at 119.76. The yen dropped on the rebound of the dollar. Japan’s Markits PMIs indicated manufacturing activities slowed from 51.6 to 50.4 in March. Weak new orders still pointed that domestic demand have not yet recovered after it was hit the hardest from consumption tax hike in April last year.

 

 

 Asian Market

  

 

Asian currencies mostly extended their rallies against the dollar due to uncertainty over the timing of U.S. interest rates hikes while gloomy outlook of China’s manufacturing sector dimmed some regional currencies. The rupiah rose to their highest in more than two weeks due to demand from exporters for settlements. The ringgit rose following gains in government bond prices while Kuala Lumpur shares outperformed regional peers.

 

USD/THB was unchanged at 32.50. The baht firmed against the dollar during intraday session, as investors continued to unwind long dollar positions. Asian Development Bank (ADB) projected Thai economy to grow 3.6% due to subsided political unrest, public investment projects and a fall in oil prices.

 

  

 

Today Market Direction at 8.30 A.M.

        

KBank Technical Analysis

Morning

Rate

Support

Resistance

Trend (Major)

Today's Strategy

USD/THB (Onshore)

32.53

32.45

32.65

Sideway

Sell USD near resistance

USD/JPY

119.73

119.45

120.00

Sideway

Buy USD near support

EUR/USD

1.0915

1.0890

1.0950

Sideway

Sell EUR near resistance

EUR/THB

35.48

35.25

35.75

Sideway

Sell EUR near resistance

JPY/THB

0.2717

0.2690

0.2740

Sideway

Sell JPY near resistance

 
                 

    

Foreign Exchange Market News
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