USD / CHF slowed below the 200-day average at 0.9083 as expected, say Credit Suisse economists, who expect an extension of the pullback. Key statements: “We are looking for a lower pullback from 0.9083. Looking to the future, a sustained move back below 0.9030 would confirm a short-term high. Thereafter, the next levels are seen […]
Tag: Banks
Expected to affirm below 1.20 – ING
The Canadian dollar has risen 3.2% against the US dollar last month, ING economists say. They note that the radical change earlier than expected by the Bank of Canada has forced them to update the profile for the USD / CAD, and now they expect a move below 1.20, reaching 1.16 by the end of […]
The rally could extend to 110.97 – Westpac
Westpac economists had been waiting for an opportunity to sell above 110; however they understand that the current move has the potential to extend beyond 111.00. Key statements: “The combination of a huge downside surprise to Wall Street economists in the April non-farm payroll report followed by an equally huge upside surprise in the April […]
USD / JPY targeting March high 110.97 – Commerzbank
The US dollar is recovering in the short term. Consequently, the USD / JPY has seen a decent bounce from the uptrend of 108.37. Karen Jones, Head of the FICC Technical Analysis Research Team at Commerzbank, is closely following the April 9 high of 109.96, as a break above this level would open the way […]
XAG / USD will return above $ 30 – Commerzbank
Silver (XAG / USD) approached the mid-February high at $ 28.37. Karen Jones, FICC Technical Analysis Research Team Leader at Commerzbank, states that above that level the focus will shift to the $ 30.09 year high. Key statements: “Silver is on its way to the February 23 high of $ 28.37 and $ 28.73, the […]
AUD / USD with scope to extend to year highs at 0.8007 – Credit Suisse
AUD / USD recently had a pullback from two-month highs. Credit Suisse analysts say the pair is hovering around its trend line break point at 0.7810, keeping risks to the upside. They see strong resistance at 0.7892 / 7905. Key statements: “AUD / USD has continued lower, in line with weak equity markets. However, the […]
Outlook is still sloping to the downside – UOB
The currency strategists of UOB Group noted that the outlook for USD / JPY continues to point to further decline in the short term. 24 hour perspective: “Our expectation that the USD would move higher was incorrect, as it plunged to 108.34 before making a quick and sharp rally. Despite the sharp decline, the bearish […]
Uptrend offers support at 1.2038 – Commerzbank
EUR / USD has been under pressure as the dollar benefits from safe haven flows. The uptrend support at 1.2038 should offer initial support, with the pair then moving higher for a test of the February high of 1.2243, as reported by Commerzbank. EUR / USD is offered above 1.1986 “Intraday declines are indicated to […]
GBP / USD holds firm and targets 1.4235 – UOB
The perspective of GBP / USD looks positive with the next target at the 1.4235 level over the next several weeks, UOB Group currency strategists suggest. Key Comments: 24 hour view: “We highlighted yesterday that ‘the move is over extended’ and we are of the opinion that ‘any further strength in the British pound will […]
A move to 1.2200 is not ruled out – UOB
UOB Group currency strategists still see the EUR / USD moving up to the 1.2200 level In the next weeks. Key Comments: 24 hour view: “Our expectation for the EUR / USD to ‘trade between 1.2110 and 1.2160’ was incorrect as it briefly rose to 1.2180 before declining. Momentum indicators have barely moved and we […]
