Sustained gains in EUR / USD await once the 1.2200 level is broken, according to UOB Group currency strategists. Key Comments: 24 hour view: “Yesterday, we expected EUR / USD to ‘move sideways between 1.2125 and 1.2180’. However, EUR / USD briefly fell to 1.2105 before bouncing sharply to end the day at 1.2164 (+ […]
Tag: Banks
S&P 500 Index: Constructive outlook to resume uptrend
The S&P 500 has achieved its “maximum measured target” at 3,819 / 17 in the space of two sessions and the team of analysts at Swiss credit now change its bias upward, looking for a resumption of the central uptrend. Key statements “Our bias is to look for Tuesday’s recovery to continue with the resistance […]
EUR / USD will aim at 1.2345 / 55 to break above 1.2190 – Credit Suisse
Above 1.2190, the EUR / USD pair should end its consolidation phase to resume the uptrend and return to 1.2345 / 55, as estimated by analysts at Credit Suisse. Key statements: “Above 1.2190 it should establish a short term ‘man-head-shoulders’ base to confirm a move back to the 1.2345 / 55 highs. While we should […]
Deutsche Bank raises US GDP forecast to 7.4% by 2021 on stimulus boost
Deutsche Bank economists have raised their 2021/2022 forecasts on US GDP amid expectations of a larger stimulus package.Reuters reports, citing a German bank strategist on Wednesday. Key Comments: “They have revised their benchmark expectations for the next fiscal package from nearly $ 1 trillion to $ 1.6-1.7 trillion, with their 2021 growth forecast improved by […]
GBP / USD now targets 1.4300 and beyond
The strong recent performance of the British pound could take GBP / USD to the 1.4300 level and beyond, in the opinion of UOB Group currency strategists. Key Comments: 24 hour view: “We highlighted yesterday that ‘the GBP / USD overbought advance could first test 1.4100 before a pullback can be expected.’ We added that […]
EUR / USD now seen between 1.2050-1.2200
UOB Group currency strategists believe that EUR / USD could move within the range of 1.2050 to 1.2200 In the next weeks. Key Comments: 24 hour view: “Yesterday we held the view that ‘further euro gains appear likely, but overbought conditions could’ cap ‘gains to 1.2200.’ The subsequent advance did not meet our expectations as […]
GBP / USD will pull back below 1.40 if profit-taking occurs – DBS Bank
GBP / USD is targeting 1.41, but headwinds from the pandemic in the UK could push the price below 1.40 again in the event of any profit taking, economists at DBS Bank reported. Key statements: “At this level, the GBP seems overbought. Aside from a relative strength index (RSI) around 74, the British pound is […]
USD / JPY risks moving to 104.40
Following the recent price action, USD / JPY could fall back to the 104.40 region in the coming week, UOB Group currency strategists have pointed out. Key Comments: 24 hour view: “We highlighted yesterday that ‘there is room for USD / JPY to retest the 105.20 level before a more sustained recovery can be expected.’ […]
GBP / USD Maintains Bullish Momentum Unchanged
The pair GBP / USD could accelerate the rally to the 1.4100 level in the coming weeks, according to currency strategists at UOB Group. Key Comments: 24 hour view: “We highlighted yesterday that GBP / USD ‘could break 1.4050, but 1.4100 is likely out of range for now.’ Our view was not wrong as GBP […]
Expected to trade between 1.2050 and 1.2200 in the coming weeks – UOB
The currency strategists of UOB Group noted that EUR / USD is expected to trade within the 1.2050 to 1.2200 range in the coming weeks. 24 hour perspective: “We expected the EUR to strengthen yesterday, but we are of the opinion that a breakout from last week’s ceiling near 1.2170 was not expected. Subsequently, the […]
