Forex: EUR/USD muted after French confidence

The sentiment surrounding the shared currency remained apathetic after the BoF Business Sentiment improved to 95 during January, beating estimates at 93 and prior reading at 94. The reading is the strongest since March 2012. In addition, the Bank of France foresees the GDP expanding 0.1% in the first quarter. More positive data in France highlights the narrower Government Budget, falling to €87.2 billion in December from €103.4 bilion.

EUR/USD is now flat at 1.3398 and a dip below 1.3371 (low Feb.7) would clear the way to 1.3349 (low Jan.25) and finally 1.3265 (low Jan.23).
On the flipside, resistance levels line up at 1.3462 (low Feb.5) ahead of 1.3515 (MA10d) and then 1.3577 (high Feb.7).

Feb 8, 2013

Forex: USD/JPY falls as Japan PM Abe finds resistance from inside

Capped at 93.73 by the start of Friday, the USD/JPY then fell across the chart, allowing Japan's Nikkei Stock Average to drop again today (-1.80%), putting an end to the weekly winning streak of 12 weeks. At 07:00 GMT, the pair fell sharpened the plunge, quoting below the 93.00 handle, to as low as 92.88 as of writing.

Forex: USD/CHF looking at 0.9200 door

Yesterday's upmove was capped by the 0.9200 mark, where it has found resistance and pulled the USD/CHF down to 0.9175 area. The market is currently down by -0.08% on the day as investors await Switzerland Real Retail Sales.