It is expected that the downtrend in the USD / JPY finds a relevant support around 108.20say UOB Group currency strategists. Key Comments: 24 hour view: “We highlighted yesterday that ‘the sharp and rapid decline seems exaggerated and USD / JPY is unlikely to weaken further’ and we expected USD / JPY to ‘consolidate and […]
Tag: Banks
GBP / USD now points towards 1.4235 – UOB
In the opinion of the currency strategists of UOB Group, the bullish momentum in the pound could extend to the 1.4235 level in the coming weeks. 24 hour perspective: “While our expectation of the British pound strengthening yesterday was correct, our view that the main resistance at 1.4110 was unlikely to be threatened was not […]
EUR / USD could attempt a move towards 1.2200 – UOB
The currency strategists of UOB Group noted that EUR / USD is ready to challenge the 1.2200 zone in the near term. 24 hour perspective: “Yesterday, we expected the EUR to consolidate and trade between 1.2110 and 1.2165. However, the euro rose to 1.2177 before turning back (the low has been 1.2126). We continue to […]
Next downside target awaits at 0.8910 – Credit Suisse
USD / CHF closed the week below the 200-day average at 0.9084 after a sharp drop on Friday, turning Credit Suisse analysts’ bias to the downside, with next support at 0.8910. Key statements: “The broader downtrend is resuming and we changed our bias to the downside, with the following levels at 0.9000 / 8995, which […]
USD / JPY moving higher, capped just above the 109.00 level
USD / JPY regains positive traction on Monday and recovers a significant portion of post-NFP losses. Risk appetite weighs on the safe-haven JPY and continues to support the pair’s positive move. A rally in US Treasury yields eases downward pressure from the USD and remains supportive. The pair USD/JPY moves higher during the first half […]
EUR / USD targets February highs at 1.2243 – Commerzbank
EUR / USD saw a strong rally from the 1.1994 / 89 support band (mid-March highs and April 22 lows) last week. In the opinion of Karen Jones, Head of the FICC technical analysis research team at Commerzbank, was expect the pair to retest the February high of 1.2243. EUR / USD will only ease […]
Canada: Recent soft streak in the labor market should prove temporary
Employment reports in Canada and the United States they were worse than expected. According to analysts from National Bank In Canada, the recovery of the Canadian labor market was temporarily halted and strong economic growth will support hiring in the coming quarters. Featured statements “With a third wave of new COVID cases, Canada also witnessed […]
A moderate RBA and rising Canberra-Beijing tensions to slow the performance of the AUD
“Compared to its peers, the RBA is very sincere in its recognition that QE plays a fundamental role in reducing the value of the exchange rate,” they note. Rabobank analysts. Featured statements “In a monetary policy speech this week, RBA Lieutenant Governor Debelle referred to the exchange rate on numerous occasions and stated that the […]
US: Retail sales likely fell modestly in April
In a preview of next week’s key macroeconomic data releases from the United States, “Retail sales likely fell modestly in April after a 9.7% month-on-month increase driven by stimulus payments in March,” analysts at TD Securities. Featured statements “Our forecast implies a strong start to the second quarter relative to the first quarter average, consistent […]
Weekly close below 0.9097 / 84 key to maintaining downtrend – Credit Suisse
USD / CHF has closed below its 200-day average and uptrend support at 0.9096 / 85, Credit Suisse analysts say. They warn that a weekly close below here would suggest a mid-term trend reversal, going neutral. Key statements: “A weekly close below a key group of medium-term supports at the 200-day average and an uptrend […]
