All Blog Posts Tagged 'cable' (60)

ANZ Global FX outlook: GBPUSD

Key interim support at 1.6250 managed to hold firm and allow for a further GBP push into the historic sell zone above 1.6500 with previous highs of 1.6750 and 1.7040-50 acting as targets.

Slippage will remain critical with the trend appearing strong but highly extended. Dips should hold above 1.6600 (ideally…

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Added by Daologic on February 20, 2014 at 6:16am — No Comments

TD Global Daily - London Open UK and GBP

"GBP Another big day for UK data, with BoE minutes and…

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Added by Daologic on February 19, 2014 at 7:24am — No Comments

UBS Morning Adviser: FX Technicals-Majors

"EURUSD NEUTRAL Any further recovery will find resistance at 1.3739. A close above this would be a bullish development opening the way to 1.3893. Support is at

1.3562 ahead of 1.3477.

USDJPY NEUTRAL Support is at 100.76 ahead of 99.97. Resistance is at 102.70 ahead of 103.65.

GBPUSD BULLISH Further support developed as the pair advanced sharply and is trading within striking distance of resistance at 1.6878. A break above which would open critical 1.7043. Support is at…

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Added by Daologic on February 17, 2014 at 9:38am — No Comments

RBSM:Key Global Currency Themes This Week | Central Banks Underwhelm

"Trading Summary | Stay with stronger EUR/USD as the ECB dithers on easier policy and US data fizzles. With event risk from the BoE Inflation Report now passed, GBP strength can continue. We reaffirm our 1.69 end-Q1 target for GBP/USD, but see increased overshooting risks for the coming month. NOK price action remains constructive, with a move back in line with its traditional drivers ongoing. Further outperformance is likely on a…

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Added by Daologic on February 17, 2014 at 7:37am — No Comments

BBH MarketView: Currency Positioning and Technical Outlook: Dollar Remains Out of Favor

"Dollar Remains Out of Favor

The US dollar fell against all the major currencies over the past week.  Helped by speculation that the Bank of England will likely hike rates before it currently envisions, sterling rose to its highest level since…

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Added by Daologic on February 17, 2014 at 7:06am — No Comments

Cable doesn't know where it is going but it's on his way

The best way I can describe what GBP buyers are up to is to use Carl Sandburg’s words: “ I’m an idealist. I don’t know where I’m going but I’m on my way”. For those of you who don’t know who Mr Sandburg is, I will just tell you he was an American writer and poet, winner of three Pulitzer prizes.

Mark Carney, the BoE governor, revolutionized the UK’s monetary policy by introducing the forward guidance, linking it to the unemployment in the same way as FED did. Only that in the…

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Added by Arenoosh on February 14, 2014 at 9:28am — 1 Comment

RBSM: GBP building on its rising trend

"Viewpoint

Notwithstanding the jump in GBP post BoE inflation report, we see pressure building for further gains. The market may be reluctant to buy at the top of its recent range, but may be left scrambling if it breaks through. The recent strong UK data and outlook from the BoE suggest it is moving closer to hike than other central banks, albeit trying to keep rate hike expectations in check.…

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Added by Daologic on February 13, 2014 at 6:00am — 1 Comment

BMO FX Strategy Daily:From the Options desk

"All about the GBP this morning. GBP and EURGBP vols are in panic-buy mode right now. Overnight GBP trading up around 15-16%, 1wk paid at 8.5%, 1mth 7.25%, feels like the market is short and also fancies buying topside as there are plenty of interests to buy 1-2wk area 1.66-1.67 strikes. It looks like the danger is Carney doesn’t give the market so much of an excuse to buy Cable and we trade back lower.…

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Added by Daologic on February 12, 2014 at 1:42pm — No Comments

RBS:GBP should cope with BoE inflation report

"The BoE inflation report tonight may keep the GBP in check. RBS expects the BoE to introduce some direct forecasting of its policy rate into the report in order to counter market expectations of a rise in rates too soon. The chart below shows an estimate of cash rate expectations in the major economies over the next three years. The UK has one of the steeper curves, although rate hikes are not expected to really begin until Q1-2015, still a year away. Rates are expected to be around 1% in…

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Added by Daologic on February 12, 2014 at 6:33am — No Comments

BBH MarketView: Look for Market to Push Back Against Carney

"Look for Market to Push Back Against Carney

The Bank of England's Quarterly Inflation Report will be released tomorrow, followed by comments Governor Carney.   He is expected to signal that despite…

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Added by Daologic on February 11, 2014 at 2:30pm — No Comments

RBSM: UK activity indicators stronger

"Ahead of the UK inflation report on Tuesday, the UK BRC retail sales monitor showed a sharp jump in the pace of sales in Jan (5.4%y/y, up from 1.8%y/y in Dec). Like for like sales rose 3.9%y/y in Jan, above 0.8% expected, up from 0.4%y/y in Dec, the fastest rate since Apr-2011. The rise was led by non-food up 4.0%y/y).

 

On Monday, the Lloyds employment confidence survey balance rose from -12 to -2, a high since 2005. The data suggests that the recovery in the UK remains robust.…

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Added by Daologic on February 11, 2014 at 7:51am — No Comments

CAD TECHNICAL OUTLOOK-TD Securities

"USDCAD’s drop below short-term support in the 1.1040/45 area points to more weakness for the market in the near-term at least. The recent pattern of trade looks toppish on a number of technical fronts. From a short-term point of view, the 6-hour chart shows trends support break, pullback support break and a Head…

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Added by Daologic on February 10, 2014 at 8:22am — No Comments

EUR/GBP: edging lower-Rabobank monthly outlook

"The UK economy expanded by 1.9% YoY in 2013. This growth rate is far greater than the expectations that persisted at the start of last year. While this is welcome it needs to be put into perspective. The ONS

estimate that in 2013Q4 the economy was still 1.3% smaller than the peak in 2008Q1. From peak to trough the UK economy shrank 7.2%. The recovery is also not well balanced with the export sector remaining soft. Further growth in business investment would also be welcome. This…

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Added by Daologic on February 4, 2014 at 4:09pm — No Comments

UBS FX Morning Adviser-Technicals FX-Majors

"EURUSD NEUTRAL MACD has breached the zero line in favour of the bulls. Potential test of resistance at 1.3746 ahead of 1.3893. Support is at 1.3623.

USDJPY NEUTRAL The much expected recovery has finally commenced as the pair tests resistance at 103.67, ahead of 104.84. Support is at 102.078.

GBPUSD BULLISH

As bullish conditions persist, there’s further upside potential to resistance at 1.6747. A break above which would open the way to 1.7043. Support is at 1.6447 ahead of…

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Added by Daologic on January 29, 2014 at 7:29am — No Comments

Technical FX-Majors-UBS Morning Adviser

"EURUSD BEARISH

Despite the recent sharp recovery, the MACD is still below its zero line which is a bearish condition. Only a close above resistance at 1.3746 would extend the strength. Support is at 1.3623 ahead of 1.3508.

USDJPY NEUTRAL The pair has been consolidating over the past few weeks, with support at 101.63 ahead of 99.96. Resistance is at 103.30 ahead of 104.84.

GBPUSD BULLISH

As bullish conditions persist, there’s further upside potential to resistance at 1.6747.…

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Added by Daologic on January 28, 2014 at 8:12am — No Comments

I am short GBPUSD at 1.6511

Based on the weekly chart and based on the weekly bearish PinBar I am short at 1.6511, SL at high of the pinbar at 1.6667, target at 1.63 and 1.6175.…

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Added by Daologic on January 27, 2014 at 6:54am — No Comments

RBSM: BoE scrapping guidance?

"The FT has a remarkable article saying BoE Governor "Carney Signals scrapping of forward guidance". The report comes from comments from Carney at the World Economic Forum in Davos in a series of TV interviews. In particular, it suggests Carney is considering scrapping the 7% unemployment threshold. The FT reports that he will outline his views fully in a speech on Friday (Carney speaks and text will be released at 12:05 GMT).

 

When asked whether the BoE was about to decrease the…

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Added by Daologic on January 24, 2014 at 4:09am — No Comments

UBS Morning Adviser-FX Technicals

"EURUSD BEARISH

With the trending indicators bearish, there’s scope for more downside in the near-term to test support at 1.3458 and then onto 1.3296. Resistance is at 1.3604 ahead of 1.3699.

USDJPY BULLISH

As broader bullish trend firmly in place, focus is on resistance at 104.92, a break above which would open the way to critical 105.75. Support is at 103.86 ahead of 102.86.

GBPUSD BULLISH The recent sharp advance reinforces the bullish picture. Resistance focus is

at…

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Added by Daologic on January 23, 2014 at 8:08am — No Comments

FX Set-up: EURUSD Heavy But Stuck in A Range, Cross Flows May Weigh-TD: Morning FX Outlook

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FX Set-up: EURUSD Heavy But Stuck in A Range, Cross Flows May Weigh

No follow through selling after last week’s late EURSUD sell-off leaves the market in limbo because there is clearly little interest…

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Added by Daologic on January 22, 2014 at 12:31pm — No Comments

Technical FX-Majors-UBS - Morning Adviser

"EURUSD NEUTRAL With the momentum falling, our support focus is at 1.3524. A close below which would be a bearish development, opening the way to 1.3458. Resistance is at 1.3656.

USDJPY BULLISH The pair is resuming its strength bringing our focus on critical resistance at 105.75. A close above which would trigger further acceleration to 110.74. Support is at 103.91 ahead of 103.09.

GBPUSD BULLISH While support holds at 1.6317, there's scope for more upside. Resistance is at 1.6502…

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Added by Daologic on January 9, 2014 at 7:25am — No Comments

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