Top of the Week Currency Overview
4.23.12
Yen pulled back to middle Bollinger and is moving higher this morning on a slowdown in Chinese and European manufacturing and crosses against the EC. Money flow remains negative and BOJ wants to ease so gains will be limited.
EC remains a range bound trade with a negative bias. Money flow remains negative. Crosses against the Yen continue to pressure this market.
Money flow in British is positive. Bank of England backing away from quantitative easing has induced money flow into this currency.
Money flow in Cad is negative. Negative channel intact but not a compelling trade.
Money flow in Aussie remains negative. This commodity currency is underperforming the Cad. Downside channel remains defined. This currency continues to remain aligned with Chinese economic strength/weakness.
CK inNY
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