Forex Market Update

By Jane Foley
29 July 2010 @ 08:13 am EDT

Most indicators are suggesting that risk appetite rose further this morning. European equities indices have performed well, EUR/USD is pushing higher as is AUD/USD and cable. However, the trends exhibited by the JPY and gold have been less certain. US data is patchy at best and this will likely ensure that optimism is kept in check. The recent slow crawl upwards in EUR/JPY reflects improved risk appetite but the reluctance to break above 114.20 this morning reflects doubts as to direction. Support at EUR/JPY113.00.

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