The current rise in gas prices in Europe has encouraged market participants to anticipate further tightening by the European Central Bank (ECB). However, according to economists from MUFG Bankthe Growth risks will keep the euro under pressure. Higher risks of the ECB defaulting on rate hikes compared to the Fed “If EUR/USD extends further lower […]
Tag: Banks
USD/JPY turns focus to 139.00 – UOB
The USD/JPY faces a possible move towards the 139.00 region in the coming weeks, say UOB Group FX strategists Quek Ser Leang and Peter Chia. 24 hour outlook: “The USD soared and closed at 137.52 (+0.75%) last Friday before jumping above 138.00 during Asian hours. Although the rapid rally seems to have been overdone, the […]
EUR/USD: Euro zone inflation data will only give euro limited support – Commerzbank
Some members of the council of the European Central Bank (ECB) also took advantage of the Jackson Hole symposium to convince the market of their efforts in the fight against inflation. Eurozone inflation data on Wednesday could support the euro, but to a limited extentreport economists from Commerzbank. “The ECB’s speech is more or less […]
EUR/USD will continue to slide towards 0.95 in the coming months – Danske Bank
The EUR/USD pair bounced on Friday amid signs of strength from the Federal Reserve and the European Central Bank (ECB), but ended the week below par. The Danske Bank economists expect the world’s most popular currency pair to extend its decline. Those responsible for the ECB warn that a “sacrifice” is necessary “The ECB appears […]
EUR/USD: We can see a sustained pullback below 0.9870 – UOB
Forex Strategists UOB Group, Quek Ser Leang, and Peter Chia, suggest that the EUR/USD You risk further losses if the 0.9870 level is breached. 24 hour outlook: “Last Friday we highlighted that the outlook for the euro was mixed and we expected the euro to trade within a range of 0.9925/1.0020. However, the euro rallied […]
Oil prices will continue to rise as Saudi Arabia considers cutting oil output – Commerzbank
Oil prices have risen sharply this week following verbal intervention from Saudi Arabia. Commerzbank economists they believe that the price recovery will continue. Saudi Arabia lends verbal support to oil “The energy minister of OPEC’s largest producer described cutting oil production as a possible way to bring oil prices back in line with fundamentals, speaking […]
EUR/USD will struggle to break above 1.00 – BBH
The EUR/USD it has tested parity but has failed to sustainably break that key level. The BBH economists they believe the pair is still on track to test the September 2002 low near 0.9615. European Central Bank Minutes underline its new standardization approach “EUR/USD should continue to struggle to advance above 1.00. We believe the […]
GBP/USD: Expect a break below 1.1730 on USD strengthening – ING
After posting small daily gains on Thursday, the GBP/USD has reversed its address. A break below 1.1730 is a distinct possibility if the dollar strengthens after Jerome Powell’s speech today in Jackson Hole. All eyes on Powell’s speech at the Jackson Hole Symposium “The pound should move mainly in line with the dollar’s reaction to […]
EUR/USD could retest 0.9900 support – ING
EUR/USD is trading in a tight range above 0.9950. In the opinion of ING economists, the pair could retest the 0.99 level after the FOMC Chairman Jerome Powell’s remarks at the annual Jackson Hole symposium.. “Today’s EUR/USD price action should be entirely driven by the dollar’s reaction to Powell’s speech, barring further developments in the […]
EUR/USD: Risk is of a move to 1.0135 – ING
The EUR/USD is enjoying a slightly softer dollar environment and is once again challenging parity. I knowING economists point out that the pair could test 1.0135. German IFO and ECB minutes in the spotlight “1.0015/20 looks like a key intraday resistance. Above it the risk is of a move to 1.0135. US data, German IFO […]
