A close above 1.2300 should allow GBP/USD to extend the uptrend in the coming weeks, according to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Featured Comments 24 hour view: “We did not expect the big advance in GBP/USD as it rose as high as 1.2277 before pulling back to close at […]
Tag: Banks
EUR/USD is now facing resistance at 1.0400 – UOB
UOB Group currency strategists Lee Sue Ann and Quek Ser Leang suggest that further rise could lift EUR/USD to the 1.0400 barrier. Featured Comments 24 hour view: “EUR/USD spiked during the New York session and rose as high as 1.0368 before dipping back down to close at 1.0297 (+0.84%). The sharp rally appears to be […]
Booming cash deposits in ATMs – The reasons
By Leonidas Stergiou Although most ATM transactions are withdrawals, the highest value per transaction is in cash deposits at the machines. In fact, the average cash deposit at ATMs is more than double the average withdrawal, while from 2017 until today. The total value of cash deposits through ATMs has increased fivefold, while the corresponding […]
Banks: Decade of record loans and income – Strong demand for working capital and refinancing
By Leonidas Stergiou New loans in the first half of the year, which also include refinancing, reached the level of 16.9 billion euros, an increase of 52% compared to the corresponding period last year. At the same time, it is a decade-long record, as these levels were last seen in 2012, when the major deleveraging […]
EUR/USD: US CPI unlikely to catapult pair out of current 1.00-1.04 range – Commerzbank
In the opinion of the Commerzbank economists, the US inflation rate, due out today, will not cause the Fed to change course. Therefore, the EUR/USD pair will remain within its current range of 1.00-1.04.. The Fed is likely to raise its key rate to 4% by the end of the year “Although today’s data could […]
Treasury yield curve inversion has room to deepen – BofA
US Treasury yield curve likely to deepen further amid aggressive Fed policy tighteningsaid Meghan Swiber, director of US rate strategy at Bank of America (BofA). Featured Comments (via Bloomberg) Although investments in the US beyond 50 basis points have been rare in recent decades, “there is no natural limit to the inversion of the 2-10 […]
EUR/USD risks falling towards 0.9700 – Morgan Stanley
Morgan Stanley analysts show EUR/USD bearish, projecting a move towards 0.9700. Featured Comments “The regional challenges they keep increasing. The risks of gas shutdown in the eurozone continue to rise, which should weigh on local growth, while Covid-19 policies in Asia they could continue to restrict the recovery…. This should be positive for the dollar. […]
EUR/USD likely to drop below parity again – Rabobank
The EUR/USD pair is trading in a clear direction in the short term, moving sideways around 1.0200. Looking ahead, Rabobank economists continue to see bearish potential for the euro on a one to three month perspective. The dollar will continue to have support “While we expect the EUR/USD 1.01 area to act as strong support […]
EUR/USD: Early December 2002 lows at 0.9863 still in sight – CIBC
According to the economists at CIBC Capital Mercados, EUR/USD could test December 2002 lowsas expensive natural gas prices and ongoing supply threats mean the eurozone faces heightened risks of a recession, which will weigh on the euro going forward. Recession risks will weigh on the euro “Expensive natural gas prices and continuing supply threats mean […]
USD/JPY could rise and revisit the 136.00 region – UOB
Further bullish momentum could take USD/JPY back to the 136.00 zone in the coming weeks, according to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Featured Comments 24 hour view: “USD/JPY traded sideways last Friday until the New York session, when it spiked towards 135.49. Momentum suggests further USD/JPY strength is likely, […]
