The European Central Bank (ECB) It offered no surprises today; The phasing out of PEPP purchases was not discussed and exchange rate comments were not highlighted. The euro made it through the meeting unaffected and the focus is now on the expected improvement in euro zone data, which should help boost the EUR/USD undervalued to […]
Tag: Banks
Forecasts of a new fall have not changed – UOB
USD / JPY is still at risk of further decline on the short-term horizon, as noted by currency strategists from UOB Group. 24 hour perspective: “We highlighted yesterday that the outlook for the USD still seemed to be on the dovish side, but any weakness was unlikely to challenge the main support at 107.65. However, […]
GBP / USD maintains positive short-term outlook – UOB
The pound still faces more gains on the short-term horizon, currency strategists at UOB Group have suggested. 24 hour perspective: “We expected the British pound to consolidate and trade between 1.3900 and 1.3990 yesterday. Subsequently, the GBP traded within a lower and tighter range than expected (1.3886 / 1.3950). The current move is still considered […]
Additional gains likely above 1.1965 – UOB
The currency strategists of UOB Group noted that the EUR / USD faces a likely move to levels above 1.2100 as long as it is above the 1.1965 level. 24 hour perspective: “Yesterday, we noted that the bullish momentum had diminished considerably and we expected the EUR to consolidate and trade sideways between 1.2010 and […]
GBP / USD break above 1.4017 would lead to resumption of central uptrend – Credit Suisse
GBP / USD needs to move past the March high of 1.4017 to reinforce its ‘double bottom’ base above 1.3919 to reinforce the view that the decline from the 1.4237 high in late February remains a corrective phase only within. longer-term central uptrend, Credit Suisse analysts explain. Key statements: “Above 1.3973, GBP / USD may […]
USD / JPY Risks Deeper Short-Term Correction – UOB
Currency strategists at UOB Group comment that there is still expect more declines around USD / JPY in the coming weeks. Key Comments: 24 hour view: “Our expectation that ‘the USD / JPY dip will test 107.90 first before stabilizing’ did not materialize, as it moved between 107.95 and 108.54 before closing little changed at […]
Short-term uptrend expected to extend – UOB
In the opinion of the currency strategists at UOB Group, GBP / USDD bullish momentum remains firm for the moment. Key Comments: 24 hour view: “Our expectation for GBP / USD to ‘move above last month’s peak near 1.4020’ did not materialize as it fell back from 1.4009. Overbought conditions combined with diminishing momentum suggest […]
EUR / USD now faces the next hurdle at 1.2115 – UOB
UOB Group currency strategists now see EUR / USD targeting the 1.2115 level in the short term. Key Comments: 24 hour view: “We expected the EUR to ‘advance further to 1.2065’ yesterday, but we are of the opinion that ‘next resistance at 1.2115 is unlikely to enter the picture.’ Subsequently, the EUR / USD rose […]
No changes in monetary policy expected – UOB
The ECB will keep monetary conditions unchanged at its Thursday event, he noted. UOB Group economist Lee Sue Ann. Key statements “The latest announcement from the ECB – that purchases under the Pandemic Emergency Purchasing Program (PEPP) during the next quarter will be made at a significantly higher rate than during the first months of […]
Chances of plummeting to 2019/2020 lows at 0.8281 / 39 – Credit Suisse
EUR / GBP has continued its bearish “reversal day” with the completion of a ceiling below 0.8626 / 21 to confirm that risk has declined again, reports the Credit Suisse team of analysts. Key statements: “EUR / GBP remains weak after its bearish ‘reversal day’ on Friday and after clearing support at 0.8626 / 21 […]
