Forex Flash: GBP could decline further – HSBC

With Cable higher for the day the most in last 6 months, up +1.09% last from previous Asia-Pacific open yesterday, “GBP has fallen quite sharply since the beginning of the year,” say HSBC analysts, “but the fall has actually been relatively modest in historic terms,” they add.

All in all, “GBP remains above ‘fair value’ levels and we believe the currency could decline further,” the analysts conclude.

Mar 15, 2013

Forex: EUR/AUD takes some breath above 1.2500

EUR/AUD is currently resuming the bounce off yesterday's fresh 2-month low at 1.2467, last at 1.2558, fresh session highs, a +0.71% higher from mentioned low. The cross is now around yesterday's previous lows, before it broke to the downside following incredibly better than expected Australian jobs report for the month of February released early in yesterday's Asian trade.

Forex: AUD/NZD higher, stalls below 1.2700/200 day SMA

AUD/NZD is last at 1.2637, off recent fresh 2-month highs at 1.2684, printed yesterday on the back of a combination of a RBNZ dovish monetary policy statement, and an incredibly much better than expected Australian jobs report (7 times higher than the median consensus and 3 times than the most optimistic one). The cross is higher by +1.5% for the week so far, with Aussie the second strongest currency among majors for last 2 trading days, only below Pound.