USDJPY, AUDUSD, USDZAR & a special NAFTA (Part I) piece on USDCAD [Video]

Eddie Tofpik ADM Investors Services International Limited

Eddie Tofpik head of technical analysis at ADMISI on what pressures are driving the major global currency pairs, in particular the Japanese yen versus the dollar - currency wars anyone?

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Eddie Tofpik

ADM Investors Services International Limited

Eddie Tofpik has over thirty years experience in international commodity markets & twenty five years experience in the foreign exchange markets and brings a wealth of knowledge & understanding to his topic.

EUR/USD remains bid, focus stays on 1.1900

EUR/USD has broken its two-day run of losses and is ticking modestly higher on Thursday, hovering around the 1.1880 area as the US Dollar struggles to find clear direction. Weekly Initial Jobless Claims rose more than expected, taking a bit of shine off the Greenback, but markets are largely in wait-and-see mode ahead of Friday’s US CPI release.

GBP/USD sticks to the bid bias, still below 1.3700

GBP/USD is trading with decent gains around 1.3650 on Thursday. Indeed, Cable is attempting to shake off the weakness seen earlier in the week amid another choppy session for the Greenback, while a run of disappointing UK data has so far failed to derail the pair’s tentative recovery.

Gold recedes slightly, trades below $5,100

Gold remains stuck in choppy trade on Thursday, deflating marginally just below the $5,100 mark per troy ounce as the US Dollar drifts without a clear trend. Softer US Treasury yields across the curve are offering some support, but with markets treading carefully ahead of Friday’s US CPI release, conviction remains limited and price action continues to look hesitant.