Today's interesting charts
Comment of the Day

February 04 2010

Commentary by Eoin Treacy

Today's interesting charts

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Eoin Treacy's view US Dollar per 1 Australian Dollar - The Australian Dollar has now dropped to the region of the 200-day moving average but needs an upward dynamic to suggest that demand is returning in this area. The New Zealand Dollar has a very similar pattern.

Chilean Peso per 1US Dollar - The US Dollar continues to rally strongly against the Peso, in a growing headwind for the Chilean stock market. While it is somewhat overextended in the short term, a downward dynamic would be required to check momentum beyond a brief pause.

Japanese Yen Per 1 Euro - The Euro continues to extend the breakdown from the 10-month range and a sustained move back above would ¥130 would be required to question scope for some additional downside.

Lumber - continues to extend the recent breakout and appears to be taking on the role of a non-correlated asset as it becomes somewhat overextended in the short term. However, a downward dynamic would be required to check the advance beyond a brief pause.

Euro Stoxx Banks Index - heavily weighted by Spanish banks and leading other bank sectors lower. A sustained move back above 210 is now needed to question scope for further downside.

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