Forex Flash: Italian elections a potential risk event for the euro - NAB

On the ongoing Italian elections, according to NAB, "anything other than a clear win for Bersani’s Democratic Party in the lower house and a seemingly workable Bersani/Monti coalition in the Senate (the Senate has equal say on policy matters) will almost inevitably see pressure resurface on euro peripheral debt markets and with that risk that EUR/USD heads further south to as far as 1.30" the bank said.

Feb 25, 2013

Forex: GBP/USD, sellers salivating after 2010/2013 range breakout

Following Friday's news that Moody's had downgraded the UK rating to Aa1 from AAA late Ny session last Friday, the GBP/USD is facing severe selling pressure at the Asian open, down at 1.5073 from 1.5160 last close. It is worth noting the clean breakout of a weekly range held since 2010, suggesting that further downside is on the cards.

Forex: USD/JPY higher on new BoJ chief headlines

In a quite busy Asian session ahead to start the week off, with Italian election results to come out, and HSBC flash manufacturing PMI China at 01:45, USD/JPY has printed yet another new multi-year high at 94.55 according to Oanda feed, on weekend news that a new BoJ chief could be chosen soon. The pair has shot up from a premarket interbank high at 93.50, gaining so far +1.04% from previous weekly close Friday, last at 94.35.