Forex: USD/CHF moving higher across 94.00

Having rallied to as high as 94.63 on Friday, the market collected profits and tested the psychological level at 94.00. The USD/CHF is attempting at returning to the upside today, having reached 94.20, so far.

Important for today's trading is Markit PMI Services data, to be released soon. Expectations are to the downside.

UBS analysts are bullish: "Initial resistance is at 0.9463, a break above would open 0.9513, and a closing breach above this would be the next bullish development", wrote analyst Gareth Berry, pointing to support at 0.9352.

Mar 5, 2013

Forex: USD/JPY lower at 93.00 area

The USD/JPY is at strength again today, despite Japan's Nikkei gains, and fell throughout the Asian session to reach as low as 92.92. The market pulled the price back to 93.00 ground, but still edging lower by -0.32% on the day.

Forex Flash: AUD makes a move following RBA statement – UBS

The Australian dollar saw a triple dose of upside overnight as the RBA kept the policy rate on hold – Australian retail sales surprised to the upside, and government spending in Q4 was very robust. According to Research Analyst Gareth Berry at UBS, “The latter creates upside risks for Wednesday's Q4 GDP report.” The RBA policy statement was largely identical to February's edition.