Currency Tech

R 2: 1.3428
R 1: 1.3369
CURRENT: 1.3280
S 1: 1.3096
S 2: 1.2989

R 2: 87.20
R 1: 86.80
CURRENT: 85.45
S 1: 85.00
S 2: 84.50

R 2: 1.6171
R 1: 1.6067
CURRENT: 1.5970
S 1: 1.5802
S 2: 1.5713

R 2: 0.9325
R 1: 0.9200
CURRENT: 0.9183
S 1: 0.9071
S 2: 0.8960

Market Brief

The USDJPY traded at 85.42 after reaching 85.02 on Friday, the weakest since Nov. 27 as Asian stocks fell and Goldman Sachs cut its growth outlook for the US and Japan before reports tomorrow forecast to show China's exports rose at a slower pace. The EURUSD was at 1.3281 after rising to 1.3334 on Friday; a three-month high and EURJPY trading at 113.45 on speculation the Federal Reserve will take steps tomorrow toward providing more stimuli. China's exports probably climbed 35% (prev. 43.9%) and imports rose 30% (prev. 34.1%) in July from a year earlier according to reports to be released tomorrow. Goldman cut its 2011 growth forecast for Japan's real GDP to 1.4% from its previous outlook of 1.7% while reducing its 2011 estimate for US growth to 1.9% from 2.5%. The BOJ is likely to hold off on increasing monetary stimulus tomorrow as policy makers aren't convinced the JPY's approach toward a 15-year high will derail the nation's recovery.NZDUSD slid to 0.7325 and NZDJPY fell 0.2% to 62.57 after the house prices rose 4.1% (prev. 5.2%) in July at the slowest annual pace since December, undermining prospects the RBNZ will increase interest rates. The NZDJPY also declined as the probability that the central bank will raise borrowing costs in September reduced as compared to the last month. AUDJPY traded at 0.9177 from Friday when it climbed to 0.9222, the strongest since May 4 and AUDJPY was at 78.40 falling a third day as Asian stocks extended a downturn in global equities, sapping demand for higher-yielding currencies.