Forex: NZD/USD targeting a move to 0.810 - RBS

“In the context of expectations for broad strength in the USD, we see an opportunity to sell NZD around current levels with a stop above .8350, targeting a move to 0.810,” says FX Trading Strategist at RBS Greg Gibbs, while NZD/USD is currently printing fresh session lows at 0.8248, breaking even for the week so far, off Wednesday's weekly highs at 0.8350.

“Concerns over a developing drought may offset the positive vibe coming from the Canterbury rebuild and add to the technical and positioning data in the case for a weaker NZD,” warns Greg.

Mar 8, 2013

Forex: USD/JPY prints yet another fresh high above 95.20

Following Chinese trade balance figure recently released, showing a trade surplus when a deficit was expected, on the back of massive exports and quite bad imports, USD/JPY has broken to fresher highs last at 95.22, highest since Aug 2009. Nikkei in the other hand rises above the 12200 points, highest since Sept 2008, up +2.11% for the day so far.

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Mar 8, 2013

Forex: AUD/JPY climbs to another 2013 new high shy of 98.00

AUD/JPY is currently at 97.66, off recent fresh 4-year highs at 97.73, printed on the back of Yen weakness, as Yen is again the weakest currency among majors for last 2 days. The cross is not that higher though for the session, barely above previous NY session high levels, since Aussie has been sold following China trade balance data, seen huge decrease in Chinese imports, which is not positive for Australia.

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