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16 Dec 2013
Flash: Look for medium term buyer in USD/JPY - BMO Capital Markets
FXstreet.com (Barcelona) - Stephen Gallo, European Head of Currency Strategy at BMO Capital Markets notes that the North American data and central bank-speak flow is quiet today.
Key Quotes
“We look for a generally soft tone in the USD to prevail as the North American session gets going, unless we can secure a firm break below 1.3750 and above 103.00 in EUR/USD and USD/JPY respectively.”
“We look for more medium-term buyers to emerge in USD/JPY, but not until the 102.00 area re-emerges on subsequent exits of stale JPY longs.”
“In USD/MXN, tomorrow’s key industrial output data could well provide the impetus for a breach of the 12.75 200-day moving average in the pair, so that will be watched closely.”
Key Quotes
“We look for a generally soft tone in the USD to prevail as the North American session gets going, unless we can secure a firm break below 1.3750 and above 103.00 in EUR/USD and USD/JPY respectively.”
“We look for more medium-term buyers to emerge in USD/JPY, but not until the 102.00 area re-emerges on subsequent exits of stale JPY longs.”
“In USD/MXN, tomorrow’s key industrial output data could well provide the impetus for a breach of the 12.75 200-day moving average in the pair, so that will be watched closely.”