April 21, 2015

Brief Information about Foreign Exchange Rate Movement

 

 

New York Market

 

EUR/USD retreated by 0.63% to 1.0738. The dollar saw broad gains against major currencies on Monday. The euro was weighed by ECB’s bond buying program and concerns over Greece’s possible default. Its deadline on debt repayment is approaching; about a billion euro is due in May and the country might not be able to satisfy its obligation. Vitor Constancio, ECB’s Vice President, stated that even though Greece fails to pay debt obligation, it may not necessarily need to leave the Eurozone.

 

USD/JPY increased 0.23% to 119.18. The yen weakened against the dollar. There was no new factor driving the yen’s movement on Monday; Japan is scheduled to release data on March’s department store sales later today.

 

Asian Market
 

Asian currencies mostly gained against the dollar, lifted by news about China's boost in liquidity. The won and Singapore dollar touched their 3-month high level in Asian session. The won rose amidst foreign inflows into stock markets for the 10th straight session while Singapore dollar continued to strengthen as markets continue to adjust position after MAS surprised the markets last week by holding off on further easing policy.

 

USD/THB rose 0.18% to 32.41 from 32.35 on Friday. Thai baht was stuck in a narrow range between 32.36-32.38 on Monday as market activities slowly returned to normal. On a yearly basis, Thai baht holds its gain by about 1.5% against the dollar, ranking the second in Asia after Taiwan’s dollar.

 

Today Market Direction at 8.30 A.M.

 

KBank Technical Analysis

Morning

Rate

Support

Resistance

Trend (Major)

Today's Strategy

USD/THB (Onshore)

32.41

32.30

32.50

Sideway

Sell USD near resistance

USD/JPY

119.33

119.10

119.60

Sideway

Sell USD near resistance

EUR/USD

1.0739

1.0710

1.0765

Sideway

Buy EUR near support

EUR/THB

34.81

34.55

35.05

Sideway

Sell EUR near resistance

JPY/THB

0.2716

0.2690

0.2745

Sideway

Sell JPY near resistance

          

 

Foreign Exchange Market News
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