INTERNATIONAL CURRENCY BUZZ :
- Forex – AUD/USD holds steady near 2-1/2 week lows
- Forex – NZD/USD rises despite downbeat N.Z. trade balance
- Forex – Yen weaker in Asia in light data day, NZ trade gap widens
The yen was a tad weaker on Thursday in Asia in a light data day following trade figures out of New Zealand.USD/JPY changed hands at 120.35, up 0.07%, while AUD/USD traded at 0.7008, up 0.09%. In New Zealand, the trade balance for August widened to a deficit of NZ$1.035 billion month-on-month, well above the NZ$850 million deficit seen. NZD/USD traded at 0.6287, up 0.17% after the data.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.01% at 96.39.Earlier Wednesday, research group Markit reported on Wednesday that Germany’s manufacturing purchasing managers’ index fell to 52.5 in September from 53.3 the previous month, while the services PMI ticked down to 54.3 from 54.9.
The euro rose to session highs against the dollar on Thursday after data showing German business confidence improved this month, while comments by the European Central Bank playing down prospects for further monetary easing in the short term also underpinned demand.The single currency was boosted after German research institute Ifo said its business climate index ticked up to 108.5 this month from August’s 108.4. It was the highest reading in four months and was ahead of forecasts of 108.0. EUR/USD touched highs of 1.1223 up from around 1.1210 ahead of the report.The euro remained broadly stronger after ECB President Mario Draghi downplayed the need for further monetary easing on Wednesday.The euro index, which measures the single currency’s strength against a trade-weighted basket of currencies, was last at 89.38.
- BUY GBP/USD ABOVE 1.5230 TARGET 1.5250 1.5280 SL 1.5200
- SELL GBP/USD BELOW 1.5200 TARGET 1.5180 1.5150 SL 1.5230