Following the decline of precious metals during most of the week, they have changed direction as both gold and silver pulled up on Thursday along with the rest of the market including oil prices, the Euro and major stock markets. This rally came despite the lower than anticipated growth in GDP for…Continue
Added by Lior Cohen on September 28, 2012 at 9:03am — No Comments
Royal Bank of Scotland - "EUR/USD
EURUSD suddenly looks like it has based at 1.2823
SUP: 1.2823 1.2747 1.2701 RES: 1.3172
Strategy: If possible tuck stops sub 1.2823 at 1.2810 looking for moves higher after the bullish engulfing candle looking for moves back towards 1.3100
1.6302: Thou shall not pass!
SUP: 1.6117 1.6000/51 RES: 1.6261 1.6302/09
Strategy: Expect the 1.6302 level to be strong…
Added by Francesc Riverola on September 28, 2012 at 8:00am — No Comments
Europe's single currency rallied and the US dollar fell against multiple major currencies following the presentation of Spain's 2013 budget.Continue
Added by Curt Wehrley on September 28, 2012 at 3:27am — No Comments
UBS - "EURUSD NEUTRAL The risk is for further correction to 1.2758 - a break below would open the way to 1.2608. Resistance is at 1.3003 ahead of 1.3043.
USDCHF NEUTRAL The important resistance is at 0.9467. As long as this holds, the risk remains for resumption of weakness. Support lies at 0.9304 ahead of 0.9239."
Added by Francesc Riverola on September 27, 2012 at 1:17pm — No Comments
You couldn't summarize current EU situation better
Nomura - "Key views:
1. Spain to call for ECCL by end October
2. After phase of relative calm, markets to test the backstop
3. Italy remains very exposed and will likely require ECCL too, after market pressure
4. GDP contraction and higher NPLs remain the key challenges
5. Debt trajectory to continue rising faster than expected
6. Banking Union timeline too ambitious
Added by Francesc Riverola on September 27, 2012 at 9:48am — No Comments
Is it just me, or has the euro increasingly tended to wake up as the sun rises over the US east coast?
Take Tuesday's price action on the EUR/USD currency pair: Stuck in a tight trading range during the entire London session, then got moving soon before the open of the New York morning session.
I've crunched some data, and the results…Continue
Added by Curt Wehrley on September 27, 2012 at 4:10am — No Comments
As shown on the daily chart posted below, the pair trades now around critical levels, a trend continuation - of the bullish breakout 1.2392 - around 1.2815/1.2870 levels is suggested, %R indicator is in oversold area, a daily closing out of oversold area with stability above 1.2815 would give us strong bullish signal on medium term ,It would increase the risk toward 1.3212 forming a newer high, then we need to evaluate pairs activities around that level If manage to reach it…Continue
Rabobank - "While we have been arguing that the EMU crisis has moved closer to its end game, it is very clear that that there is still a long way to go. October promises to be a testing month for Spain and in this environment we see risk of pullbacks for EUR/USD towards the 1.2600 area. That said, with the fiscal cliff in the US nearing and on the back of the Fed’s very accommodative monetary policy we see any bouts of USD strength as likely to be short-lived and expect that EUR/USD will…Continue
Added by Francesc Riverola on September 26, 2012 at 10:18am — No Comments
RBS - "EUR/USD: EURUSD Short term bias is bearish to the support between 1.2700/47
SUP: 1.2823 1.2747 1.2701; RES: 1.2906 1.3172
Strategy: Keep short into the 1.2700/47 region using the 5 day moving average as a dynamic stop loss.
GBP/USD: GBP/USD heads back to the Summer support
SUP: 1.6117 1.6000/51
RES: 1.6261 1.6309
Strategy: Expect price action to be short term heavy until at least the support around 1.6000/51
EUR/GBP: Buy opportunity in the cross…
Added by Francesc Riverola on September 26, 2012 at 10:00am — No Comments
The prices gold and silver remained nearly unchanged yesterday and thus they have both continued their unclear trend from last week. Yesterday, President of Federal Bank of Philadelphia commented on the recent decision of the…Continue
Added by Lior Cohen on September 26, 2012 at 9:51am — No Comments
J.P. Morgan - FX forecasts through 2015: G10 long-term forecasts.
Dec-13 Dec-14 Dec-15
Exchange rates vs. U.S dollar
EUR 1.33 1.30 1.27
JPY 80 82 85
GBP 1.64 1.63 1.61
AUD 1.05 0.99 0.94
CAD 0.94 0.96 0.97
NZD 0.78 0.73 0.68
CHF 0.86 0.89 0.92
SEK 6.26 6.22 6.18
NOK 5.39 5.30 5.21
Exchange rates vs. Euro
JPY 106 107 108
GBP 0.81 0.80 0.79
CHF 1.15 1.16 1.17
SEK 8.34 8.10 7.86
NOK 7.18 6.89…
JP Morgan - FX Forecasts: End-2012
Targets with previous forecast in parentheses are now:
EUR/USD 1.30 (1.24),
GBP/USD 1.62 (1.58),
AUD/USD 1.04 (1.02),
USD/CAD 0.98 (1.02),
USD/CNY 6.32 (6.30),
USD/KRW 1125 (1150),
USD/ZAR 8.50 (8.30),
USD/RUB 30.84 (32.27),
EUR/CZK 25.00 (25.80),
EUR/PLN 4.10 (4.25) and EUR/TRY 2.34 (2.23).
Year-end forecasts are left unchanged for USD/JPY 78, USD/BRL 1.98, USD/MXN 12.50 and EUR/HUF…
Added by Francesc Riverola on September 24, 2012 at 4:14pm — No Comments
UBS - "EURUSD BULLISH As long as 1.2916, there is scope for resumption of strength. A break above 1.3085 would expose 1.3172. The next main support lies at 1.2837.
GBPUSD BULLISH Resistance is at 1.6455 ahead of 1.6618. Any downside moves will be corrective. Support lies at 1.6164 ahead of 1.6124."
Added by Francesc Riverola on September 24, 2012 at 3:37pm — No Comments
During last week, gold and silver prices remained nearly unchanged, despite the FOMC decision to commence with QE3. There were several reports that were published during last week that may have had a modest effect on the bullion market. These reports were: the…Continue
Added by Lior Cohen on September 24, 2012 at 11:02am — No Comments
Westpac - "AUD/USD: The calendar isn’t pivotal this week, leaving AUD/USD to gyrate anywhere from 1.0325 to 1.0565 on headlines from Asia (probably negative) and Europe (positive?). RBA Oct easing pricing shouldn’t fall much below 60%.
NZD/USD: Global central bank stimulus should support the NZD for some time but the market needs a fresh catalyst to break above 0.8350 major resistance. Upon such a break, we would target…
Added by Francesc Riverola on September 24, 2012 at 9:52am — No Comments
Precious metals prices didn't do much during last week despite the publication of the FOMC decision to start its stimulus plan. There were several reports that were published during last week: the Philly Fed index rose by 5 points but was still negative;…Continue
Added by Lior Cohen on September 23, 2012 at 4:47pm — No Comments
UBS - EURUSD: BULLISH The corrective pullback stalled just above support at 1.2916 – a move below would trigger deeper correction to 1.2837. Resistance is at 1.3085-1.3172.
USDCHF: BEARISH Resistance is at 0.9380 ahead of 0.9420. Support lies at 0.9239, a break below this level would resume weakness to 0.9195- 0.9104.
Added by Francesc Riverola on September 21, 2012 at 2:37pm — No Comments
The prices gold and silver remained nearly unchanged for the fifth consecutive business day after they had increased precipitately during the first couple of weeks of September. The depreciation of the Euro along with other "risk currencies" may have curbed the rally of precious metals. The…Continue
Added by Lior Cohen on September 21, 2012 at 12:29pm — No Comments
Bank of Tokyo Mitsubishi - Ranges & Outlook for the week ahead
USD/JPY – bullish bias – (77.70-79.20)
EUR/USD – neutral bias – (1.2800-1.3200)
USD/CNY – bullish bias – (6.3000-6.3300)
USD/INR – neutral bias – (53.50-55.50)
Added by Francesc Riverola on September 21, 2012 at 8:11am — No Comments
BNZ - "Looking ahead, there is little on the data calendar tonight. We doubt the weekend’s G20 meeting will produce anything particularly meaningful. So markets look set to end the week a little more downbeat than how they began. With the risks to global growth again tipping to the downside, risk appetite may struggle to retain its post-QE3 buoyancy in the short-term. This should limit the AUD/USD and…Continue
Added by Francesc Riverola on September 21, 2012 at 8:06am — No Comments