September 17, 2014

Brief Information about Foreign Exchange Rate Movement

 

 New York Market

 

EUR/USD rose 0.15% to 1.2960. Market sentiment shifted as rumor shows that the Fed won't change the 'considerable time' language; this is in contradiction to what the market has priced in before that the Fe’s tone will shift towards hawkish tone. Overall the language has been positive for risky assets and weighed down the dollar value. The euro brushed aside the drop in German investors’ sentiment index which touched its lowest level since December 2012.

USD/JPY pulled away from its 6-year peak at 107.39 seen last Friday to close at 107.13. Bank of Japan’s Governor Kuroda said stable yen moves are crucial for the country's business sector

 

 Asian Market

   

Asian currencies mostly strengthened as a correction after continuous drop over the past 2 days. The Taiwan dollar and the Philippine peso fell to 4-month lows as caution prevailed over whether the Fed will signal the timing of its rate hike after a policy meeting starting today. The aussie rose by a hefty 0.74% to 0.91 after news showed that China’s stimulus package.

USD/THB declined 0.23% to 32.21. The pair retreated to 32.20 levels overnight. We expect the pair to trade sideways within strong support/barrier levels of 32.17-32.34. The Bank of Thailand’s MPC meets today where another rate hold is expected. Eye strong target at 32.34. Prefer to stay bid.

    

Today Market Direction at 8.30 A.M.

 

KBank Technical Analysis

Morning

Rate

Support

Resistance

Trend (Major)

Today's Strategy

USD/THB (Onshore)

32.22

32.15

32.30

Sideway

Buy USD near support

USD/JPY

107.25

107.00

107.55

Sideway

Buy USD near support

EUR/USD

1.2953

1.2920

1.2985

Sideway

Sell EUR near resistance

EUR/THB

41.67

41.40

42.05

Sideway

Sell EUR near resistance

JPY/THB

0.3004

0.2975

0.3035

Sideway

Sell JPY near resistance

Foreign Exchange Market News
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