FOREX News and Overnight Technical Levels- July 27th

[B][U]Fundamental Headlines[/U][/B]

  • [B]USDJPY[/B] - Following a day of massive yen strengthening, the Bank of Japan?s head of research and statistics states that yen exchange rate is “not abnormal”. According to Kazuo Momma, “We don?t believe that the current foreign exchange rate is abnormal.”
  • [B]NZDUSD[/B] - The New Zealand dollar follows the Australian dollar lower amid carry trade reduction. The Kiw has now fallen the most versus the yen since 2005. Downside boosted by dovish comments by Governor Bollard.
  • [B]EURUSD [/B]- German consumer confidence rises to eight month high as unemployment drops to the lowest in 12 years. Survey results rose to 8.7 from 8.5 in the previous assessment, prior figures revised higher.
  • [B]GBPUSD[/B] - Pound sterling falls the most against the US dollar in five months amid global stock reduction and carry trade unwind. Declines exacerbated by speculation that next rate hike will be the last.
  • [B]Paulson[/B] prepares to travel to China for a fourth time amid US legislation that would impose further tariffs on Chinese imported goods.