The EUR / USD will now move within the range of 1.2125-1.2220 over the next several weeks, UOB Group currency strategists suggest. Key Comments: 24 hour view: “Yesterday we expected the EUR / USD to ‘trade within a 1.2155 / 1.2200’ range. While the pair subsequently traded in a subdued fashion, it rose to a […]
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XAU / USD to remain bullish overall above $ 1,857 – Commerzbank
Gold is in a consolidation process near the $ 1900 area. Karen Jones of the Technical Analysis Research team at Commerzbank points out that the XAU / USD bias is neutral to bullish and that it will remain that way as long as it remains above $ 1,857 Key statements: “The gold high of $ […]
Door open for a probable move to 108.90 – UOB
Downward pressure could drag USD / JPY to the 108.90 level over the next several weeks, UOB Group currency strategists suggest. Key Comments: 24 hour view: “USD / JPY traded quietly between 109.18 and 109.55 yesterday. Momentum indicators are mostly neutral and sideways trading would not be surprising, although probably within a wider range of […]
GBP / USD seen between 1.4100 and 1.4205 – UOB
Now it is expected that the GBP / USD consolidates within the 1.4100-1.4205 range in the coming weeks, say UOB Group currency strategists. Key Comments: 24 hour view: GBP / USD fell to 1.4122 yesterday before recovering rapidly and subsequently moved sideways. Momentum indicators are neutral and GBP / USD is likely to trade between […]
EUR / USD maintains neutral outlook for now – UOB
UOB Group currency strategists note that EUR / USD outlook remains neutral for the moment. Key Comments: 24 hour view: “The EUR / USD traded yesterday within a range of 32 pips (between 1.2162 and 1.2194), its smallest daily range in about four months. Not surprisingly, momentum and other indicators are mostly “flat.” In other […]
US: April data suggests that trade is likely to provide a modest boost to second quarter GDP growth
Data released Tuesday showed that the US trade balance deficit narrowed to $ 68.9 billion in April, from a record $ 75 billion in March. Wells Fargo Analysts They note that the April trade report suggests that net trade is likely to provide a modest boost to GDP growth in the second quarter. Featured statements […]
EUR / GBP: Outperformance could prove difficult for the pound in the coming weeks
There is scope for the pair EUR/GBP approaches 0.84 by the end of the year, according to analysts from Rabobank. They don’t expect a breakout anytime soon. They note that against a background of optimism regarding the outlook for the Eurozone and the emergence of some potential headwinds in the UK, outperforming could prove difficult […]
USD / JPY to face solid support at 108.55 zone – Commerzbank
USD / JPY is declining in the short term as the dollar continues to correct. Karen Jones, Head of Technical Analysis Research Team at Commerzbank, expects the pair to hold the 108.55 support at bay. Positive above pivot 108.55 “USD / JPY is going down in the short term. It will find minor support at […]
EUR / USD to plummet below 1.20 as Fed downsizing looms on the horizon
Friday’s release of May’s “good but not so good” US labor data showed a decent level of improvement in the US labor market, but not enough to heighten fears that the Fed should start cutting its price. Asset purchase program imminent. While there may not be an urgent need for the Fed to decline, the […]
XAU / USD could continue to correct in the near term – OCBC
Gold fell back below $ 1,900 last week and a below-expected reading for US inflation this week could push the yellow metal much lower, analysts at OCBC Bank estimate. Key statements: “As expected, Gold posted its best monthly price rise this year in May, rising 7.8% to close above $ 1,900 on May 31. The […]
