Forecast: The Pound Dollar pair recovered the modest spot lost during trading hours in Asia, operating flat during the day around 1.2870. The publication of the British Rightmove House Price index at the beginning of the day barely affected the pound, although house prices fell 0.9% in August and compared to the previous month, the biggest drop for this year. Compared to the previous year, prices…Continue
Today, Swiss demand deposits have fallen from CHF 476.3 billion to CHF 470.3 billion, while the EUR / CHF is being pushed upwards and is now consolidating around CHF 1,1350 per euro. We began to see a slowdown in the growth of demand deposits. Foreign exchange reserves have increased sharply in July as the CHF weakened. We take into account that, for the moment, the SNB does not need to intervene as much as it intervened in the past.
The EUR/USD corrected the extreme overbought conditions reached on Tuesday, aided by a weak schedule during the Asian session and with no relevant publications in the EU or the US. The dollar, however, remains weak across the board, trading near multi-month lows against most of its major rivals and at the levels last seen more than a year ago against the common currency, despite Kick in progress.
The GBP/USD managed to stay above the 1.3000 level, trading flat daily around 1.3030, as the market went into waiting ahead of Thursday's top-level events including the ECB's monetary policy decisions and The BOJ, and UK retail sales in June. The United States will publish some housing data before the opening of Wall Street, but given the market's negative sentiment toward the US currency, it seems unlikely that good numbers can do much for a short-lived…Continue