U.S. Review To QE3 or Not To QE3: That is the Question Some market participants are beginning to…

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EUR/USD The pair settled the week with a net loss of around 200 pips after it was confirmed that the country is to hold yet another round of elections in June, as such, a caretaker is to takeover the running of the country until then. Still, despite the speculation, the country managed to meet its
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The US Dollar and Japanese Yen aim to extend gains into the end of the trading week as evaporating risk appetite stokes demand for the go-to haven currencies.

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FXstreet.com (San Francisco) – The European single currency has spiked to a fresh 3-day high…

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Contraction makes Brazil’s growth second slowest in Latin America and comes as Asia’s major emerging markets, China and India, are also decelerating
Financial Times – Currency Markets News and Data

With the lack of market thrillers, risky assets rebound on a normal pullback after the recent savage selloff looking with an eye of hope towards the world’s leaders meeting (G8) today. Markets woke up on sharp selloff with the start of the trading session, where majors printed new lows against the greenback before rebounding. The
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Market sentiment firmed up ahead of the G8 meeting as the EU talked down the risk for a Greek exit, and the rebound in risk-taking behavior may gather pace in the days ahead as European policy makers increased their pledged to bolster the euro-area.

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FXstreet.com (Buenos Aires)- USD/JPY fell to 79.02 so far, trading right below the 79.12 previous…

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Negotiator Pagan Amum said the North had not complied with a May 2 resolution giving the neighbours two weeks to resume talks
Financial Times – Currency Markets News and Data

Published at 10:39 (GMT) 18 May USD/CAD looks a spent force after its push through 1.0200 earlier today, though player will have been impressed with the gains seen here – fighting through heavy layers of corporate offers all the way up. The next key target area is now up near 1.0400, though as ever, the
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Crude oil and copper may rise amid profit-taking on risk aversion bets while gold and silver ride QE3 hopes and growing fears of Eurozone instability may spread.

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FXstreet.com (Barcelona) – The Nikkei 225 fell by 2.4% on account of the USD/JPY plunge yesterday…

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Single currency ceases sell-off but remains below $ 1.27 while Aussie and New Zealand dollar fall to fresh lows on global economic concerns
Financial Times – Currency Markets News and Data

Technical Analysis EUR/USD “The market’s very concerned about contagion and Spain probably being the biggest focus of attention after Greece. If the euro breaks $ 1.26, there’s probably not a lot of stops going to the lows that we saw in 2010” – Rochford Capital (based on Bloomberg) Pair’s Outlook EUR/USD has decided not
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Investors have panicked as risk correlated assets tumble. As of yet, there isn’t any sign of light at the end of the tunnel….

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It was only a matter of time until the ratings agencies got involved in the current market turmoil….

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Published at 02:11 (GMT) 18 May Australian PM Julia Gillard said high AUD puts stresses on manufacturing and tourism, Investment pipeline inspires confidence in the economy. – BBG. On FX, ongoing complaints of high AUD from PM Gillard and Aust government, and pressure on RBA to cut Cash Rates further on June 5 and beyond.
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FXstreet.com (San Francisco) – AUD/NZD has recovered all of its previous day’s losses this Friday…

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FTSE Asia Pacific falls as eurozone fears weigh on markets, hitting financials and exporters and capping gains for Japanese lenders
Financial Times – Currency Markets News and Data

Published at 23:23 (GMT) 17 May 18 May AUD/JPY Daily 23:13 GMT – Sharp decline last session is putting bears back on firm footing with scope for extension towards stronger support at 78.04 before oversold condition sets in to trigger rebound. Selling into upticks still favoured. [W.T] R5: 80.37 14 May high R4: 80.17 *
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Canada’s consumer price index is widely expected to hold steady from the previous month, but a divergence from market expectations may spark increased volatility in the USDCAD as currency traders weigh the outlook for monetary policy.
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FXstreet.com (San Francisco) – The EUR/USD continued its steady decline on Thursday and touched a…

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Banks lead FTSE 100 to a fourth straight decline, as risk aversion dragged the wider market to a new five-month low
Financial Times – Currency Markets News and Data

14:52 (GMT) 17 May 17 May EUR/HUF Daily 14:40 GMT – Yesterday’s alert to a potental reverse above 294-5 was canclled as the market rallied in late trade to close well. With follow through today as well, this market is through the downtrend (l/t trend flat at least) and right on key 299~ resistance- this
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Market sentiment weakened further on Thursday amid the ongoing turmoil in the euro-area, and the flight to safety may gather pace going into the end of the week as European policy makers fail to stem the risk for contagion.

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