It is expected that the USD / JPY maintain consolidation between 108.80-110.00 in the coming weeks, as suggested by currency strategists at UOB Group. Key Comments: 24 hour view: “While we highlighted yesterday that ‘deep overbought conditions suggest that USD / JPY is unlikely to strengthen further’, we expected USD / JPY to ‘consolidate and […]
Tag: Banks
GBP / USD has 2018 high of 1.4377 in its sights – Commerzbank
GBP / USD is starting to erode the February high of 1.4238 / 45. Karen Jones, Head of Commerzbank’s Technical Analysis Research Team, expect the pound to target 1.4377, the 2018 high. Bullish trend at 1.3861 underpins the pound “The GBP / USD is starting to erode the 1.4238 / 45 zone, the recent high […]
EUR / USD in a consolidation range between 1.2150 and 1.2265 – UOB
In the opinion of the currency strategists of UOB Group, it is likely that the EUR / USD has now moved into a consolidation range between 1.2150 and 1.2265. 24 hour perspective: “Yesterday, we highlighted that the downward pressure had eased and the current move was seen as part of a consolidation and we expected […]
Turkey: Upside risk to 5% growth forecast
Recent data showed that the Turkish economy grew 7.0% in annual terms during the first quarter of 2021 and 1.7% from the previous quarter. BBVA analysts Research note that the current strong momentum, ongoing credit growth and positive global outlook put upside risks to their cautious 5% growth forecast for 2021. Key quotes: “Domestic demand […]
NFP: A good report may put a brighter spotlight on the Fed’s phase-down speech
The US employment report will be released on Friday. The market consensus is a payroll increase of 650,000. According to Wells Fargo analysts, a weak report could reinforce expectations that the Federal Reserve will reduce its QE. Key statements: “The full reopening of the economy after a pandemic is not a continuous process and this […]
EUR / USD: The euro will continue to appreciate gradually towards long-term equilibrium
According to the BBVA Research Department, the US dollar no longer reacts so positively to strong US data.Over the long term, they see the EUR/USD it is appreciated very gradually, reaching the 1.25 zone in 2022. Key statements: “The tables have recently turned for the common European currency as it once again moves towards appreciation. […]
XAU / USD still has legs to keep going – OCBC
Gold had the first weekly close above $ 1,900 on Friday since the first week of January. With XAU / USD breaking above $ 1,900, there is clear bullish momentum, say analysts at OCBC. Key statements: “Gold finally closed above 1900 / oz for the first time since the beginning of the year, and we […]
USD / CHF could extend its upward correction to 0.9100 – Commerzbank
The 0.8931 / 10 support band has been held at USD / CHF, explains Karen Jones, Head of the Research Team at Commerzbank. Expect the pair to correct higher towards the 0.9100 level. Key statements: “USD / CHF held the support band of 0.8931 / 10 (Fibo), as we suspected and the market appears ready […]
USD / JPY faces initial resistance at 110.25 – UOB
The upward momentum of the USD / JPY faces initial hurdle at 110.25 level in the coming weeks, say UOB Group currency strategists. Key Comments: 24 hour view: “Last Friday we highlighted that ‘the strong and rapid rally seems exaggerated, but there is scope for USD / JPY to test 110.25 first before reversing.’ Subsequently, […]
EUR / USD faces strong support around 1.1985 – UOB
Quek Ser Leang of Global Economics & Markets Research at UOB Group notes that it is expected that occasional bearish attempts on EUR / USD find solid support at 1.1985. Key Comments: “In the technical currency section of our global quarterly outlook released on March 19, 2021 (when EUR / USD was trading at 1.1970), […]
