Ho Woei Chen, CFA, an economist at UOB Group, assesses the latest PMI data in China. He estimates that the drop may have been due to cold weather and problems in the electricity supply due to increases in demand. Key statements: “Both China Logistics and Purchasing (CFLP) manufacturing and non-manufacturing PMI softened in December. Manufacturing […]
Tag: Banks
EUR / USD: Additional gains expected above 1.2309
UOB Group currency strategists forecast that EUR / USD will extend its rally if it breaks above the 1.2309 region in the coming weeks. Key Comments: 24 hour view: “EUR / USD climbed to a high of 1.2309 last Thursday before falling sharply. The rapid decline amid overbought conditions indicates that 1.2309 is likely to […]
GBP / USD aims to trade sideways next year – HSBC
On December 24, negotiators from the UK and the EU reached an agreement on a trade deal, keeping the British pound high. Beyond the Brexit deal between the UK and the European Union, HSBC economists analyze how the UK will do to stay competitive compared to its current position. They estimate that the challenges facing […]
1.2518 / 98 zone remains a tough barrier – Credit Suisse
The euro is on track to close with significant gains against the dollar in 2020. Credit Suisse economists see more limited upside potential in 2021, mostly due to extreme positioning. Expect the 1.2518 / 98 area to offer significant resistance. Key statements: “We maintain our long-term bias for EUR / USD higher after completing its […]
AUD / USD could rise to 2018 high of 0.8136 in 2021 – Credit Suisse
Analysts at Credit Suisse expect the USD to depreciate broadly and the preferred expression of this view remains pro-cyclical commodity currencies such as Australia’s. They forecast that AUD / USD will be capped by the 0.7574 / 7638 area in early 2021, but should hit the 2018 high of 0.8136 later in the year. Key […]
GBP / USD would move to 1.37-1.40 range after Brexit deal announcement – Westpac
According to Westpac economists, a Brexit deal, which is starting to look imminent, would propel the GBP / USD pair towards the 1.37-1.40 range if one is finally reached, while the EUR / GBP would decline towards 0.88. Key statements: “This time it really looks like an agreement will be reached just in time for […]
Correction risks rise rapidly – Credit Suisse
AUD / USD remains in a high range above key supports at 0.7532 / 00 for now, but the risk of a corrective reversal is growing, the Credit Suisse team of analysts warns. Key statements: “AUD / USD maintains its strong rejection of key resistance and our first core target on the upside of the […]
AUD / USD to remain bullish as long as it remains above 0.7529 / 00 – Credit Suisse
AUD / USD fell sharply on Monday, although this was completely reversed by the close, remaining above the key support of 0.7529 / 00, a level that would allow for lower lows according to analysts at Credit Suisse. Key statements: “AUD / USD fell sharply on Monday to reject key resistance and our first core […]
EUR / CHF could advance towards 1.0900 in 2021 – Danske Bank
Following the easing rally in EUR / CHF since early summer, the pair is largely unchanged and was last seen trading at 1.0840. A higher EUR / USD expected in the short term will also lift the EUR / CHF, in the view of economists from Danish bank. “The SNB is preparing to continue to […]
EUR / USD will move towards 1.25-1.27 and then lower again – Nordea
The EUR / USD consensus is super bullish ahead of 2021, and while economists from Nordea agree on a move towards 1.25-1.27, also take note of several warning signs of “gray swans”. See – EUR / USD: Ambitious target at 1.45 in the coming years – Rabobank “We believe in a move towards 1.25-1.27 but […]
