Economic data released in the US on Friday showed the economy added 49,000 jobs in January and the unemployment rate fell to 6.3% from 6.7%. Wells Fargo Analysts They explained that the report contained widespread weakness, but they are optimistic about the future and expect hiring to strengthen in the coming months. Key statements: “In […]
Tag: Banks
Risk of further short-term weakness remains – Credit Suisse
AUD / USD once again pressures the 55-day average at 0.7595, raising the risk of further short-term weakness again, analysts at Credit Suisse assess. Key statements: “AUD / USD is again under pressure in line with its recently completed small top and is pressing down on the crucial 55-day average, currently at 0.7595, with the […]
GBP / USD: A dip below 1.3580 seems unlikely
UOB Group currency strategists have highlighted that a sustained decline below 1.3580 in GBP / USD looks unlikely on the short-term horizon. Key Comments: 24 hour view: GBP / USD fell to 1.3566 yesterday, before making a strong bounce that sent it back to 1.3698. The strong and rapid advance is overbought, but there is […]
Previous uptrend now offers resistance at 1.2040 – Commerzbank
The EUR / USD fell below 1.20 on Thursday and has not been able to regain that level. Beyond a small short-term rally, analysts from Commerzbank they seek deeper losses. “EUR / USD has eroded the 1.2000 level and this has turned attention to the downside. The next support is at 1.1945, which is the […]
Draghi has little chance of implementing substantial reforms – Capital Economics
Markets have reacted well to the news that Mario Draghi has taken the reins to form a new government in Italy. It’s hard to think of a better candidate to guide Italy through a crisis, but the Economists at Capital Economics doubt that it will have a transformative impact on the Italian economy as it […]
USD / JPY targeting 55-week moving average at 106.34 – Commerzbank
The USD / JPY pair has reached the 200-day moving average at 105.60 and analysts of Commerzbank they have covered their long positions. The Next upside target is the 55-week moving average at 106.34. “USD / JPY has hit the 200 day high at 105.60 and we have covered our long positions. The 55-week moving […]
Possibility of a move towards 1.1910 – UOB
The currency strategists of UOB Group noted that the EUR / USD could fall to the 1.1910 zone in the coming weeks. 24 hour perspective: “We highlighted yesterday that conditions were still oversold and the risk of the EUR breaking the main support at 1.2000 was not high. Our view was incorrect as the euro […]
USD / JPY: Outlook remains positive in the short term
USD / JPY remains constructive bias unchanged for now, have noted the currency strategists of UOB Group. Key Comments: 24 hour view: “Our retracement expectation did not materialize as USD / JPY moved within a tight range between 104.90 and 105.10. Momentum indicators are mostly neutral and it would not be surprising if the sideways […]
GBP / USD: Additional range on the table
In the opinion of the currency strategists at UOB Group, the position of the GBP/USD remains sloping down in the middle of a wider range between 1.3580 and 1.3760. Key Comments: 24 hour view: “GBP / USD traded between 1.3620 and 1.3683 yesterday, tighter than our expected range of 1.3630 / 1.3710. Price action offers […]
Silver: The rally was short-lived, but there are still more bullish attempts on the cards
Silver (XAG / USD) spiked to 30.09 and has sold just as quickly. However, there are still more attempts to the upside, according to Karen Jones, FICC Technical Analysis Research Team Leader at Commerzbank. Key statements “The trend is bullish and will remain in bullish mode as long as we stay above the low of […]
