The Dollar Index (DXY) hit a new 20-year high last week. Although it has since receded slightly, the index’s recovery so far this year is still above 13%. In the opinion of UBS economists, the dollar is likely to continue rising in the short term. The dollar should reach its maximum in the next six […]
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GBP/USD: The next step down is 1.1580 – UOB
In the opinion of the currency strategists of UOB Group, Lee Sue Ann and Quek Ser Leang, the GBP/USD it is still at risk of a deeper setback in the short term. 24 hour outlook: “Our expectations that the pound would trade sideways yesterday were wrong as it tumbled to a low of 1.1622 during […]
EUR/USD: Main Bearish Message Remains – Credit Suisse
EUR/USD has managed to regain parity again. Talk of a 75 basis point rate hike from the European Central Bank (ECB) and positive energy developments in Europe have supported the single currency. However, the Credit Suisse economists maintain their target of 0.9700 for EUR/USD at the end of the third quarter. Positive evolution of the […]
EUR/USD: Risk remains to the downside, but bearish momentum begins to slow – UOB
Currency strategist Quek Ser Leang of UOB Group’s Global Economics & Markets Research noted that a test of the main support at 0.9670 seems unlikely at the moment. 24 hour outlook: “On 6 Jul 2022 (when EUR/USD was trading at 1.0265), we highlighted in our chart update of the day that the break of critical […]
EUR/USD should remain in a range of 0.9900-1.0100 this week – ING
EUR/USD has found some support near 0.9920 but remains vulnerable. As reported by economists at ING, the pair will trade within a range of 0.99-1.01 this week. Pay attention this week to natural gas prices “Markets are now pricing in a 63 basis point ECB rate hike on September 8 – we expect 50 basis […]
USD/JPY faces next upside barrier at 139.50 – UOB
Continuation of the bullish bias in USD/JPY could challenge the 139.50 region once 139.00 is brokensay currency strategists from UOB Group, Quek Ser Leang, and Lee Sue Ann. 24 hour outlook: “Yesterday we indicated that the strong bullish momentum suggested a further advance, but a break of 139.00 was unlikely. Our view turned out to […]
EUR/USD: A period of short-term consolidation seems likely – Crédit Agricole
The EUR/USD pair appears to have stabilized around parity. The Crédit Agricole economists expect to see a short-term EUR/USD consolidation. Any surprise to the upside of the CPI in the euro zone will support a more aggressive interest rate hike by the ECB “The recent widening of the short-term EUR/USD spread may persist and continue […]
EUR/USD will fall to 0.90 this winter – Nomura
The Nomura economists expect EUR/USD to extend its decline until the end of the year. The pair is forecast to trade at 0.90 this winter. Inflation will continue to rise to multi-decade highs before peaking “We expect a further rise in euro area inflation in August, but we expect the rise to be less sharp […]
GBP/USD risks falling to 1.1630 – UOB
According to UOB Group currency strategists Quek Ser Leang and Lee Sue Ann, the GBP/USD could extend the decline to the 1.1630 area in the coming weeks. 24 hour outlook: “We expected the pound to weaken yesterday, but were of the opinion that the main support at 1.1630 was probably out of reach. Our opinion […]
EUR/USD can consolidate between 0.9900-1.0085 – UOB
UOB Group currency strategists Quek Ser Leang and Lee Sue Ann suggest that the EUR/USD is now facing a consolidation between 0.9900 and 1.0085. 24 hour outlook: “Our expectations for the EUR to drop below 0.9900 yesterday were wrong as it bounced strongly from 0.9912 (high has been 1.0028). Despite the strong bounce, the bullish […]