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By XE Market Analysis December 24, 2014 12:25 pm
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    XE Market Analysis: Asia - Dec 24, 2014

    A very quiet, pre-Christmas session saw the dollar trade inside of narrow ranges, though mixed overall. Better than expected jobless claims helped Wall Street rally modestly, while yields moved higher after the data. EUR-USD peaked just shy of 1.2220 highs before heading back under the figure, while USD-JPY was stuck between 120.37 and 120.53 though the session. USD-CAD edged under 1.160 early, though recovered over 1.1620 on sagging oil prices. Cable stayed over 1.5500, and peaked near 1.5555.

    [EUR, USD]
    EUR-USD popped up to intra day highs of 1.2219, as some last minute shopping stepped in. Short covering was noted during the London morning session, with more of the same taking place now into the Christmas break. Gains over the figure did not last however, and the pairing gently eased back under 1.2190 in light trade.

    [USD, JPY]
    USD-JPY was steady through the session, managing just a 120.37 to 120.53 range. The pairing made no attempt to test new ground on either side, and ahead of Japan's heavy data calendar on Friday, more of the same may be in store overnight. Offers reportedly remain from 120.80 to 121.00, with barrier options noted at the figure as well.

    [GBP, USD]
    Sterling remains in sell-the-rally mode, and as the dollar picked up ground on Tuesday, cable fell to levels last seen in late August 2013. The pairing touched lows near 1.5485, with its next target at 1.5428, seen on August 28, 2013. The pound has lost some ground to the euro as well, as EUR-GBP moved up toward 0.7870, after putting in a one-month low of 0.7813 on Friday.

    [USD, CHF]
    EUR-CHF spiked toward 1.2100 from the 1.2010 area last week after the SNB implemented a negative interest rate of -0.25%. The cross has since edged lower from 1.2045 and appears set to remain in a narrow range on either side of 1.2030.

    [USD, CAD]
    USD-CAD traded into 1.1591 lows early in the session, though quickly reclaimed the 1.16 handle, back up to 1.1620. WTI oil prices were back under $56/bbl, providing some support, though overall, traded volumes were very light into what will be a four-day weekend for Canada.

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      kumarmatka30 Posts: 4

      Just Checking old records for research and analysis.


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