The currency strategists of UOB Group noted that the pound’s rise is expected to accelerate further above the 1.4235 level. 24 hour perspective: “Our expectation for the British pound to test 1.4235 failed to materialize as it traded between 1.4137 and 1.4205 before settling slightly lower at 1.4185. Momentum indicators are mostly flat and the […]
Tag: Banks
EUR / USD may extend its downward correction towards the 1.2080 / 50 area – Commerzbank
The US dollar is consolidating and Karen Jones, Head of the Technical Analysis team at Commerzbank, expect the EUR / USD to extend its downward correction. “EUR / USD finally broke below the uptrend on Friday and the rest of our long positions stopped in profit.” Interestingly, the pair has seen a smart bounce on […]
US: Unemployment rate to resume downtrend after surprising April surge
In a preview of next week’s key data release in the United States, “Payrolls probably rose sharply by pre-Covid standards, but we see some downside risk versus consensus again this month,” analysts at TD Securities. Featured statements: “Our forecast implies a still considerable net drop of 7.7 million from the pre-COVID level. The unemployment rate […]
White House sees strong GDP growth in 2021-2022
The White House expects strong GDP growth in 2021 and 2022, but sees it fall to 2% in 2023 before falling back to 1.8% through the mid-2020s, the NY Times reported Friday. As for the job market, the White House projects an unemployment rate of 3.8% starting in 2023. Market reaction This report does not […]
USA: Another inflation indicator flashing red
Data released on Friday showed an impressive drop in personal income in April (expected) and the underlying PCE rose to the highest level since 1994. Wells Fargo analysts point out that the 13.1% drop in personal income in April masks widespread growth in a variety of personal income sources that were wiped out by the […]
Gain momentum for a move above 110.00 – UOB
The outlook for USD / JPY looks positive, with the next targets above the round 110.00 level. over the next several weeks, UOB Group currency strategists suggest. Key Comments: 24 hour view: “While we expected USD / JPY to strengthen yesterday, we are of the opinion that ‘no advance is expected to threaten the main […]
Additional gains likely above 1.4235 – UOB
In the opinion of the currency strategists of UOB Group, the libra has prospects of continuing to rise once it exceeds the 1.4235 In the next weeks. 24 hour perspective: “Yesterday we highlighted that a breaking off of the strong support in 1.4100, but it was unlikely that the libra threatens the next support in […]
EUR / USD could find support around 1.2130 – UOB
According to the currency strategists of UOB Group, Occasional bearish attempts in EUR / USD are forecast to find support at the 1.2130 region. 24 hour perspective: “Yesterday we highlighted that the rapid decline seems to be ahead of itself, but there is room for the weakness of the EUR to test the main support […]
US Durable Goods Orders: Impressive Increase in Underlying Capital Orders
Data released Thursday showed an unexpected drop in durable goods orders in April. According Wells Fargo analystsThe 1.3% drop in durable goods orders reflected supply chain problems that continue to hamper auto production and a sharp drop in defense spending. Featured statements “The 1.3% drop in durable goods orders in April reflected supply chain problems […]
USD / JPY remains in the range of 108.50-109.55 – UOB
The USD / JPY is still seen trading within the range of 108.50-109.55 in the coming weeks, suggest currency strategists at UOB Group. Key Comments: 24 hour view: “The USD / JPY spiked yesterday to 109.17 before closing on a firm tone at 109.14 (+ 0.35%). Strong bullish momentum suggests that USD / JPY is […]
