Forex Flash: USD/THB has further upside for the near term - ANZ

FXstreet.com (Barcelona) - “Our long USD/THB trade recommendation, initiated on 24 April, is close to our initial target of 29.70,” ANZ analysts note, adding: “Though the move higher in USD/THB over the past couple of weeks has been sharp, we believe there is further upside in the near-term,” they suggest.

“Hence, we are adjusting our target to 30.20, and our stop-loss level to 29.3 to ensure that this trade closes at a profit,” ANZ concludes.

May 3, 2013

Forex: Will the upcoming US Jobs data lead to further declines in EUR/USD?

A volatile day is what was expected, and a volatile day is what market participants received. After initially trading as high as 1.3216 after the ECB Rate Cut announcement, the pair sharply reversed gains during the Mario Draghi press conference and finished the day down 123 pips at 1.3061. In what has already been a very busy week on the economic front, perhaps the most important event (US Non Farm Payrolls est. 146k) will be released at 12:30GMT.

Forex: Aussie edging higher during Asia trade, resistance at 1.0290 in focus

The Aussie is drifting higher during Asia trade, up 23 pips at 1.0268. Economic data in the session has been quiet, with the AUD PPI Index coming in at 0.3% actual vs. 0.2% estimate. Also, China Non-Manufacturing PMI was released (although China is on holiday), and came in at 54.5 actual vs. 55.6 previous. Market participants are already focusing on RBA Interest Rate decisions due out on Tuesday May 7th at 4:30GMT.