Following a volatile first quarter, EUR / USD gained strong upward traction, breaking above the long-term downtrend line from the 2008 high. Essentially, the fact that the euro managed to overcome this important barrier was a strong bullish signal. The mark of 1.45 would be an ambitious goal for investors who expect the shared currency […]
Tag: Banks
Canada: Retail sales momentum proved resilient in October
Data released on Friday showed that retail sales increased 0.4% in Canada during October. CIBC analysts They note that it appears that the increase in Covid-19 cases had a lesser effect on consumer spending in October than was feared. Key statements: Canadian retail sales momentum proved resilient in October, driven in part by surprising strength […]
Turkey: The policy rate is likely to remain stable at 15.00% at next week’s policy meeting
Next week, Turkey’s central bank will announce its decision on monetary policy. The Turkish lira resumed its recovery this week with the USD/TRY staying below 8.00 and ended on Friday near 7.60. According to Wells Fargo analysts, the central bank will keep the rate at 15%, against the market consensus of a 16.50% increase. Key […]
USD / JPY: Expectations of greater strength in the Japanese yen
Danske Bank Analysts See USD / JPY in 102 in a month, in 101 in three months, in 100 in six and in 100 in a year. They note that the US dollar has faced strong headwinds due to declining global risks, rising US inflation expectations and increased global growth. Key statements: “We have witnessed […]
EUR / USD with open doors for 1.2355, then 1.25 break to follow – Credit Suisse
EUR / USD has seen a decisive break above 1.2155 and analysts at Credit Suisse maintain a central bullish outlook for a resumption of the uptrend at 1.2355. They see firmer resistance at 1.2518 / 98. Key statements: “Assuming the EUR / USD has a weekly close above 1.2145 / 55, which we see no […]
EUR / USD targets 2018 high at 1.2556 – Commerzbank
He EUR/USD trades at 2-year highs and targets 2018 high at 1.2556, while the cFalls should find support at the 1.2073 uptrend, reports Axel Rudolph, senior technical analyst at Commerzbank. “EUR / USD hit a nearly 3-year high at its current December high at 1.2244 as it heads to the 2018 high at 1.2556 and […]
USD / CHF in short-term range, dominant trend remains bearish – Credit Suisse
USD / CHF is testing levels below the lower end of the range and below the crucial long-term retracement support of 0.8875. Credit Suisse economists continue to see a dominant downtrend in the medium term, although they warn of a high possibility of lateral movements in the short term. Key statements: “USD / CHF is […]
USD / CAD near May 2018 low at 1.2730, next major support seen at 1.2620 – Credit Suisse
USD / CAD continues to hover around the May 2018 low at 1.2730 and the overall central downtrend remains intact, with the next major support at 1.2620, Credit Suisse analysts report. Key statements: “With short-term momentum dropping, at first there will likely be more short-term side trades. After this consolidation, we remain biased to the […]
Brexit will reduce around 5% of UK GDP in the long term
A post-Brexit trade deal is still at stake. The risk of not reaching an agreement is very high, but ABN Amro economists doubt that such a scenario will last long; An agreement is likely to be concluded in the course of 2021. However, even with a deal, Brexit will inflict significant damage on the economy […]
Strong rally continues to halt before 0.7574 / 0.7638 – Credit Suisse
AUD / USD prolonged consolidation below a group of long-term Fibonacci retracements, Credit Suisse analysts explain. They estimate that for now the resistance of 0.7574 will limit the rises. Key statements: “AUD / USD continues to consolidate as expected, after hitting the start of a set of long-term Fibonacci retracements and our first core target […]
