The Turkish lira came under new pressure after Erdogan point out possible rate cuts in the future. While it may be a bit early, the economists at TD Securities they stick to their call for a 100 basis point cut this month with a total reduction of 350 basis points for August. This should keep […]
Tag: Banks
Silver Price Analysis: XAG / USD will undergo a downward correction
Silver has failed again before the Fibonacci retracement to $ 28.73, as the XAG / USD you are experiencing some profit taking. Karen Jones, Technical Analysis Research Team Leader at the FICC and Commerzbank, turns its attention to the support at $ 25.65. XAG / USD fails to address the 78.6% retracement to $ 28.74 […]
USD / JPY still trapped within consolidation – UOB
UOB Group currency strategists note that it is expected that USD / JPY hold the range of 108.80-110.00 for the moment. Key Comments: 24 hour view: “Yesterday, we highlighted that ‘the sharp decline seems to be ahead of itself, but there is room for USD / JPY to fall below the strong support at 109.30’. […]
GBP / USD faces additional range in the short term – UOB
In the opinion of the currency strategists at UOB Group, GBP / USD will remain within the 1.4090-1.4250 range for the moment. Key Comments: 24 hour view: “We highlighted yesterday that ‘there is scope for the British pound to rise above the main resistance at 1.4235’, but we are of the opinion that ‘the next […]
Focus turns lower, next stop at 1.4123 – Commerzbank
GBP / USD is moving around 1.4150, away from the highs, as the pair charted a key reversal on Tuesday. Later, Karen Jones, Head of the FICC technical analysis research team at Commerzbank, has turned her gaze downward. The initial support is seen at 1.4123. To the upside above the uptrend at 1.3868 “GBP / […]
EUR / USD still moving within the 1.2150 / 1.2265 range – UOB
UOB Group currency strategists note that it is expected that EUR / USD remains within the consolidation range of 1.2150-1.2265. Key Comments: 24 hour view: “We expected the EUR / USD to strengthen yesterday, but we highlight that ‘any advance is expected to face solid resistance at 1.2250’. We added, ‘main resistance at 1.2265 is […]
US: Manufacturing could be much stronger
Data released Tuesday showed the ISM manufacturing index rose to 61.2 in May, beating expectations. Wells Fargo analysts point out that changes in the various sub-components describe a punishment for manufacturers because it is a once-in-a-lifetime demand surge, but long lead times, supply shortages, and staffing challenges are preventing factories from ramping up production . […]
Canada: Strong growth expected in the second half of 2021
The Canadian economy rose at a rate of 5.6% during the first quarter according to data released Tuesday, disappointing expectations. According to analysts at the National Bank of Canada, the report does not change its view of strong growth in the second half of 2021. Key statements: “While real GDP growth in the first quarter […]
Copper resumes its rise to all-time highs at 10747.50 – Commerzbank
Copper (LME) has resumed its rise from the May low at 9795.00. According to Commerzbank’s Axel Rudolph, the base metal is now targeting the all-time high at 10747.50. Key statements: “Copper probably ended its recent minor grade Elliott wave ‘abc’ correction at its May low of 9795.00 and last week resumed its rise to its […]
USD / CAD would culminate bullish correction from breaking 1.2012 / 00 – Credit Suisse
The USD / CAD presents unclear indicators at the moment in the short term, which raise doubts about the downside possibilities, warn Credit Suisse analysts. Key statements: “USD / CAD is moving down within its range, which is centered on the regime defining long-term support at 1.2060 / 48, which includes the 2017 low and […]
