something interesting

<  BACK TO Market Analysis

PIG TODAY-Trading The ECB: Views From 15 Major Banks

Goldman: No Change, Little Action From The Meeting.

The ECB's Governing Council will meet on Thursday, January 19. In line with the broad market consensus, we expect little action at the meeting, based on the lack of market news since December. Specifically, we expect key policy rates to be left unchanged, and no changes to the Asset Purchase Programme (APP). We expect the introductory statement to continue to describe risks to the growth outlook as skewed to the downside, and that Mr. Draghi will resist any suggestion that recent inflation data warrant the withdrawal of monetary accommodation.

Morgan Stanley: Staying Short EUR/USD Into ECB.

We used the recent rally in EURUSD to add a short position to our portfolio. Our arguments for a weaker EUR have not changed. In the absence of further political integration, the ECB may have to remain accommodative to support the struggling periphery even as the core overheats. As EMU inflation shows signs of rising, real yields may decline to weaken the EUR. The risk of rising populism with the upcoming elections in the Netherlands, France and Germany will also be an undertone for the currency. We'll pay particular attention to the ECB's rhetoric on the recent upside surprise in inflation.

Nomura: No Change, ECB To Remain Guarded.

In line with an overwhelming consensus, we do not expect any changes to the ECB’s monetary policy programme at tomorrow’s meeting. Instead, we expect the focus to be on the Governing Council’s assessment of macro-economic developments in light of some positive dataflow over the past few weeks. Thanks in part to that dataflow, we now believe the risks to the ECB’s (and consensus) forecasts for the growth and inflation outlook have shifted to the upside. During the post-meeting press conference, President Draghi will nevertheless probably re-emphasise the ECB’s strong commitment to the existing monetary policy programme by stressing some of the numerous downside risks that could generate further instability for the region in the months ahead. In terms of trades: we enter 10yr OLO vs short 10yr RFGB at 20bp targeting 10bp (stop 25bp), but also a tactical long 15yr BTP Mar-32 vs 10yr and 20yr at 10.5bp with a target at 0bp stop at 15b.

Credit Agricole: No ECB Surprises; Further Upside Into 1.09 A Selling Opportunity.

This week’s main focus will be on this year’s first ECB monetary policy announcement. In line with consensus expectations we see limited scope for ECB surprises. If anything, central bank President Draghi should defend a more dovish stance in light of still muted core price developments. As such he is likely to downplay the higher than expected headline inflation, as confirmed by December CPI data. Such a stance is fully in line with what he stressed previously. As long as higher inflation is largely driven by base effects, upside risks to inflation are likely regarded as muted. In an environment of stable investors’ central bank rate expectations it will be about external factors such as risk sentiment to drive the currency. With risk sentiment more unstable, some further EUR/USD upside risk cannot be excluded in the short-term. However, from a broader angle we believe rallies into 1.09 should prove corrective and should still be sold.

SocGen: An Uneventful Meeting; Long USD & Walk Away. 

We get a likely uneventful ECB meeting on Thursday, but it is still likely to be a combination of renewed widening in yield differentials and a ramping-up of nervousness ahead of the French elections which will be the catalyst for renewed Euro weakness when that happens.The choppiness of the most heavily traded pairs, like EUR/USD, USD/JPY and GBP/USD, not to mention the recent moves in equities and bonds, is making life difficult for anyone who doesn't just put positions in place and walk away. Those who do just walk away are probably the ones still long dollars, short Treasuries and waiting for President Trump to begin his first hundred days in office.

RBC: ECB A Low-Key Affair.

The ECB Governing Council’s first meeting of 2017 should be a low-key affair. The December decision to extend QE by nine months, dropping the monthly pace to EUR60bn should largely set the ECB’s policy course for this year. Although headline euro area inflation has recently increased and is forecast to continue doing so in coming months, we fully expect the ECB to choose to ‘look through’ the rise, which is being determined primarily by energy price developments. So we expect little change, with President Draghi again likely to emphasise downside risks to the outlook and the lack of upward trend in underlying inflation, which will allow him to ignore the early calls from some quarters for the ECB to begin the process of normalising policy.

BNPP: ECB To Stick To The Plan; Staying Short EUR/USD Via Options. 

On Thursday, the ECB press conference may note further improvement in activity and reduced downside risks. However, our economists expect the ECB to remain very wary of fueling premature speculation about an end to QE. With the ECB emphasizing a preference for sticking with the plan and ongoing asset purchases capping nominal rates, stronger activity data in Europe is likely to keep real rates low, leaving the EUR vulnerable. We remain positioned for EURUSD downside via a EURUSD ratio put spread with KI (buy 1x 1.05, sell 2x 1.03 with 1.0150 KI) (14-Feb expiry)

SEB: ECB To Strike A Dovish Balance On Thurs; Market Neutral.

Having already mapped its monetary policy course for full 2017 at its last meeting in 2016 (8 Dec), the ECB is most unlikely to deliver any further policy adjustments at the upcoming, first Governing Council meeting in the new year on 19 January. Markets will therefore focus on the ECB press conference, in which Mario Draghi will deliver an update on economic and monetary developments in the euro area over the past six weeks. In order to avoid any diminution in the current amount of monetary accommodation, we expect the ECB to strike a dovish balance and dispel any taper speculation. Given the minimal bond and FX market moves since the previous ECB meetings, we expect the outcome of this week’s ECB meeting to be broadly market-neutral.'

BofA Merrill: Draghi To Be Dull; Sell EUR/USD On Any Bullish Reaction.

We think any hawkish statements that strengthen the EUR during the Q&A could be an opportunity to sell EUR/USD again ahead of potential fiscal stimulus in the US. EUR/USD has been a USD trade and weakened as the USD rallied after the US elections. The EUR has not weakened with respect to non-USD G10 currencies and has actually strengthened against the JPY. The EUR remains at its early 2004 level with respect to non-USD G10 currencies. Similarly, although the EUR/USD is down by 2.5% since the December ECB meeting, the EUR is down only by 0.4% with respect to non-USD G10 currencies. In real effective terms, the EUR is stronger than in early 2015. And EUR/USD has corrected higher so far this year, particularly in the last two weeks.

Barclays: No Change From ECB.

We expect no change in monetary policy stance at this week’s ECB meeting. The challenge for the ECB will be to manage market expectations as headline inflation increases in the coming 3-4 months, driven in part by energy prices and the currency. We expect the weakness in underlying inflation to persist in 2018, with core inflation improving but still below 1.5%. Therefore, we think that QE will be needed in 2018 but at a reduced pace of c.EUR35-40bn in H1 and EUR15-20bn in H2.

Danske: ECB To Stay Dovish Despite Better Data.

We do not expect a hawkish stance from the ECB, although the latest economic survey indicators have strengthened further and inflation has risen above 1.0% for the first time in three years. President Mario Draghi will most likely argue that the ECB does not react to a single inflation figure, that the latest inflation gains are due primarily to energy prices and consistent with the ECB’s inflation forecast – broadly in line with last week’s comments from the hawkish executive board member Yves Mersch. The higher inflation is good news for the ECB but it seems clear that the underlying price pressure is most important and here there are ‘no signs yet of a convincing upward trend’.

Deutsche Bank: A Patient ECB  For Now.

Our central case scenario is a patient ECB. They should be reassured by broadly unchanged financial conditions after their decision to slow the pace of QE.The ECB won’t feel challenged by the recent data..If current data trends continue, the outright taper decision could accelerate to June rather than September, but the latter is our baseline. The key is whether inflation, especially core, is becoming more likely to exceed ECB forecasts. Euro area headline inflation should rise sharply in January and February, to 1.6% and 1.8% yoy respectively. That said, mid-year is the earliest that the less convincing core inflation will satisfy the minimum conditions for policy tightening...However, the ECB won’t be afraid to change plans, if necessary. If a "sustainable adjustment" in inflation is reached, we don't think the ECB would hesitate to act, even changing the current plan.

UniCredit: Constructive, But Still Dovish.

We do not expect new policy announcements when the ECB meets on Thursday. Therefore, the monetary policy framework will remain the same as announced on 8 December: EUR 80bn of monthly asset purchases until March, with a slowdown to EUR 60bn per month in the remaining nine months of the year. The current forward guidance, which indicates a bias of the Governing Council (GC) for more, rather than less, asset purchases, is likely to remain in place. ..We think that ECB President Draghi will sound constructive, but dovish.

ANZ: ECB To Show Steady Hand. 

The tone of this week’s ECB meeting may be more even-handed given the improvement in euro area inflation and encouraging readings on activity.  Market chatter of an early end to QE seems premature, however, given that core inflation is still way below target and there is no evidence yet of a sustainable recovery in inflation. However, as growth and inflation improve, it is natural to expect the ECB may not have to announce additional policy measures.

UOB: ECB A Non-Event, EUR/USD In 1.0500-1.0715 Near-Term. 

The first ECB meeting for the year tonight is likely to be a non-event. Following the decision to extend its QE program up to Dec this year at its last meeting, we do not expect much from the ECB this round. The statement at the press conference could also remain roughly unchanged, although the tone of the press conference could reflect a stronger confidence inside the board regarding the economic outlook. In all, we expect 1.0500 to 1.0715 in the near term.

Source: efxnews.com

Goldman: No Change, Little Action From The Meeting.

The ECB's Governing Council will meet on Thursday, January 19. In line with the broad market consensus, we expect little action at the meeting, based on the lack of market news since December. Specifically, we expect key policy rates to be left unchanged, and no changes to the Asset Purchase Programme (APP). We expect the introductory statement to continue to describe risks to the growth outlook as skewed to the downside, and that Mr. Draghi will resist any suggestion that recent inflation data warrant the withdrawal of monetary accommodation.

Morgan Stanley: Staying Short EUR/USD Into ECB.

We used the recent rally in EURUSD to add a short position to our portfolio. Our arguments for a weaker EUR have not changed. In the absence of further political integration, the ECB may have to remain accommodative to support the struggling periphery even as the core overheats. As EMU inflation shows signs of rising, real yields may decline to weaken the EUR. The risk of rising populism with the upcoming elections in the Netherlands, France and Germany will also be an undertone for the currency. We'll pay particular attention to the ECB's rhetoric on the recent upside surprise in inflation.

Nomura: No Change, ECB To Remain Guarded.

In line with an overwhelming consensus, we do not expect any changes to the ECB’s monetary policy programme at tomorrow’s meeting. Instead, we expect the focus to be on the Governing Council’s assessment of macro-economic developments in light of some positive dataflow over the past few weeks. Thanks in part to that dataflow, we now believe the risks to the ECB’s (and consensus) forecasts for the growth and inflation outlook have shifted to the upside. During the post-meeting press conference, President Draghi will nevertheless probably re-emphasise the ECB’s strong commitment to the existing monetary policy programme by stressing some of the numerous downside risks that could generate further instability for the region in the months ahead. In terms of trades: we enter 10yr OLO vs short 10yr RFGB at 20bp targeting 10bp (stop 25bp), but also a tactical long 15yr BTP Mar-32 vs 10yr and 20yr at 10.5bp with a target at 0bp stop at 15b.

Credit Agricole: No ECB Surprises; Further Upside Into 1.09 A Selling Opportunity.

This week’s main focus will be on this year’s first ECB monetary policy announcement. In line with consensus expectations we see limited scope for ECB surprises. If anything, central bank President Draghi should defend a more dovish stance in light of still muted core price developments. As such he is likely to downplay the higher than expected headline inflation, as confirmed by December CPI data. Such a stance is fully in line with what he stressed previously. As long as higher inflation is largely driven by base effects, upside risks to inflation are likely regarded as muted. In an environment of stable investors’ central bank rate expectations it will be about external factors such as risk sentiment to drive the currency. With risk sentiment more unstable, some further EUR/USD upside risk cannot be excluded in the short-term. However, from a broader angle we believe rallies into 1.09 should prove corrective and should still be sold.

SocGen: An Uneventful Meeting; Long USD & Walk Away. 

We get a likely uneventful ECB meeting on Thursday, but it is still likely to be a combination of renewed widening in yield differentials and a ramping-up of nervousness ahead of the French elections which will be the catalyst for renewed Euro weakness when that happens.The choppiness of the most heavily traded pairs, like EUR/USD, USD/JPY and GBP/USD, not to mention the recent moves in equities and bonds, is making life difficult for anyone who doesn't just put positions in place and walk away. Those who do just walk away are probably the ones still long dollars, short Treasuries and waiting for President Trump to begin his first hundred days in office.

RBC: ECB A Low-Key Affair.

The ECB Governing Council’s first meeting of 2017 should be a low-key affair. The December decision to extend QE by nine months, dropping the monthly pace to EUR60bn should largely set the ECB’s policy course for this year. Although headline euro area inflation has recently increased and is forecast to continue doing so in coming months, we fully expect the ECB to choose to ‘look through’ the rise, which is being determined primarily by energy price developments. So we expect little change, with President Draghi again likely to emphasise downside risks to the outlook and the lack of upward trend in underlying inflation, which will allow him to ignore the early calls from some quarters for the ECB to begin the process of normalising policy.

BNPP: ECB To Stick To The Plan; Staying Short EUR/USD Via Options. 

On Thursday, the ECB press conference may note further improvement in activity and reduced downside risks. However, our economists expect the ECB to remain very wary of fueling premature speculation about an end to QE. With the ECB emphasizing a preference for sticking with the plan and ongoing asset purchases capping nominal rates, stronger activity data in Europe is likely to keep real rates low, leaving the EUR vulnerable. We remain positioned for EURUSD downside via a EURUSD ratio put spread with KI (buy 1x 1.05, sell 2x 1.03 with 1.0150 KI) (14-Feb expiry)

SEB: ECB To Strike A Dovish Balance On Thurs; Market Neutral.

Having already mapped its monetary policy course for full 2017 at its last meeting in 2016 (8 Dec), the ECB is most unlikely to deliver any further policy adjustments at the upcoming, first Governing Council meeting in the new year on 19 January. Markets will therefore focus on the ECB press conference, in which Mario Draghi will deliver an update on economic and monetary developments in the euro area over the past six weeks. In order to avoid any diminution in the current amount of monetary accommodation, we expect the ECB to strike a dovish balance and dispel any taper speculation. Given the minimal bond and FX market moves since the previous ECB meetings, we expect the outcome of this week’s ECB meeting to be broadly market-neutral.'

BofA Merrill: Draghi To Be Dull; Sell EUR/USD On Any Bullish Reaction.

We think any hawkish statements that strengthen the EUR during the Q&A could be an opportunity to sell EUR/USD again ahead of potential fiscal stimulus in the US. EUR/USD has been a USD trade and weakened as the USD rallied after the US elections. The EUR has not weakened with respect to non-USD G10 currencies and has actually strengthened against the JPY. The EUR remains at its early 2004 level with respect to non-USD G10 currencies. Similarly, although the EUR/USD is down by 2.5% since the December ECB meeting, the EUR is down only by 0.4% with respect to non-USD G10 currencies. In real effective terms, the EUR is stronger than in early 2015. And EUR/USD has corrected higher so far this year, particularly in the last two weeks.

Barclays: No Change From ECB.

We expect no change in monetary policy stance at this week’s ECB meeting. The challenge for the ECB will be to manage market expectations as headline inflation increases in the coming 3-4 months, driven in part by energy prices and the currency. We expect the weakness in underlying inflation to persist in 2018, with core inflation improving but still below 1.5%. Therefore, we think that QE will be needed in 2018 but at a reduced pace of c.EUR35-40bn in H1 and EUR15-20bn in H2.

Danske: ECB To Stay Dovish Despite Better Data.

We do not expect a hawkish stance from the ECB, although the latest economic survey indicators have strengthened further and inflation has risen above 1.0% for the first time in three years. President Mario Draghi will most likely argue that the ECB does not react to a single inflation figure, that the latest inflation gains are due primarily to energy prices and consistent with the ECB’s inflation forecast – broadly in line with last week’s comments from the hawkish executive board member Yves Mersch. The higher inflation is good news for the ECB but it seems clear that the underlying price pressure is most important and here there are ‘no signs yet of a convincing upward trend’.

Deutsche Bank: A Patient ECB  For Now.

Our central case scenario is a patient ECB. They should be reassured by broadly unchanged financial conditions after their decision to slow the pace of QE.The ECB won’t feel challenged by the recent data..If current data trends continue, the outright taper decision could accelerate to June rather than September, but the latter is our baseline. The key is whether inflation, especially core, is becoming more likely to exceed ECB forecasts. Euro area headline inflation should rise sharply in January and February, to 1.6% and 1.8% yoy respectively. That said, mid-year is the earliest that the less convincing core inflation will satisfy the minimum conditions for policy tightening...However, the ECB won’t be afraid to change plans, if necessary. If a "sustainable adjustment" in inflation is reached, we don't think the ECB would hesitate to act, even changing the current plan.

UniCredit: Constructive, But Still Dovish.

We do not expect new policy announcements when the ECB meets on Thursday. Therefore, the monetary policy framework will remain the same as announced on 8 December: EUR 80bn of monthly asset purchases until March, with a slowdown to EUR 60bn per month in the remaining nine months of the year. The current forward guidance, which indicates a bias of the Governing Council (GC) for more, rather than less, asset purchases, is likely to remain in place. ..We think that ECB President Draghi will sound constructive, but dovish.

ANZ: ECB To Show Steady Hand. 

The tone of this week’s ECB meeting may be more even-handed given the improvement in euro area inflation and encouraging readings on activity.  Market chatter of an early end to QE seems premature, however, given that core inflation is still way below target and there is no evidence yet of a sustainable recovery in inflation. However, as growth and inflation improve, it is natural to expect the ECB may not have to announce additional policy measures.

UOB: ECB A Non-Event, EUR/USD In 1.0500-1.0715 Near-Term. 

The first ECB meeting for the year tonight is likely to be a non-event. Following the decision to extend its QE program up to Dec this year at its last meeting, we do not expect much from the ECB this round. The statement at the press conference could also remain roughly unchanged, although the tone of the press conference could reflect a stronger confidence inside the board regarding the economic outlook. In all, we expect 1.0500 to 1.0715 in the near term.

Source: efxnews.com

lastest Articles

Market Analysis
Gold climbs to weekly tops, around $1338 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 13.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
UK PM Candidate Javid: My absolute priority is to deliver a Brexit deal
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US: Damage already done from the Mexico tariff threat? – ABN AMRO
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -12.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Preview: Draghi’s speech at ECB conference on CESEE in Frankfurt
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
OPEC+ and global supply risks to put a floor in crude markets - TDS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold slips to 1-week low, below $1325 level amid fading safe-haven demand
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -11.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Obsessed
This Time It's Different
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EU Commissioner Moscovici: EU still has risks to monitor, including Brexit and Italy’s finances
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold drops to multi-day lows, around $1325 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 10.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD Canadian Dollar Higher After US and Canadian Jobs Report
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's Vasiliauskas: Inflation outlook is 'not bad'
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BOJ: Expect further easing in September – JP Morgan
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD flirting with daily lows near 1.1260
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB and Eurozone GDP amongst market movers today – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Downtrend eroded? - Commerzbank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOMC: July meeting priced in for 21bps of cuts – Deutsche Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD firmer, approaches 1.1300 ahead of US ADP
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB: Tweak in policy rate forward guidance?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD: Further selling? – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold jumps to over 3-month tops, around $1330 area
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/GBP could move towards 0.9 – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Market Death by Tariffs; Safe-Havens Reign Supreme
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD holds steady near 1.1135 amid falling German yields
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 31.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold technical analysis: Bulls challenge 100-hour SMA/38.2% Fibo. confluence resistance
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE's Ramsden: Little more pessimistic about the GDP growth that the latest BoE forecasts
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 30.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY climbs to 1-week tops, 110.00 mark back on sight
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Rising bets for another test of 2019 lows near 1.1100
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 29.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold rallies to session tops, around $1285 level amid reviving safe-haven demand
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD remains under pressure around 1.1180
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 28.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY treads water near 109.50 amid negative Treasury yields
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/JPY technical analysis: Hangs near multi-month lows, bears eyeing a break below mid-138.00s
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD ticks higher to mid-1.3400s amid weaker Oil prices
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD unable to gather traction above 1.1200
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
May’s Resignation means Brexit is Back to Square One
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 24.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD clings to modest recovery gains, 1.2700 mark back on sight post-UK data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Interim resistance emerges at the 55-day SMA at 1.1236
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold in search of a firm direction, holds steady near $1275 area
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD remains under pressure near 1.1150 post-German GDP
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 22.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOMC Minutes to portray a cautious tone
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD technical analysis: Hammered down to 4-1/2 lows, vulnerable to test 1.2600 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -21.02.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
RBA: Rate cut in June and August?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD resumes the downside near 1.1150 ahead of ECB, data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's de Cos: European financial system remains fragile
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY remains sidelined below the 123.00 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD seen at 1.15 in 6-month – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD Canadian Dollar Lower Despite Reaching Tariff Agreement With US
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 17.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold drops to session lows, retreats further below $1300 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Short-term consolidation?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
JPY futures: room for further depreciation
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/TRY edging higher, approaches the 6.10 area
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD technical analysis: Bears flirting with 1-week old descending trend-channel support
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 14.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD keeps the red below mid-1.2900s, 2-week lows post-UK jobs data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Recent tops and the 55-day SMA keeps limiting extra gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Balance of risks still favour 1.10 in 2Q19
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -13.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE's Broadbent: Doesn't know which way rates would go in case of a messy no-deal Brexit
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar falls as the US-China trade war intensifies
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 10.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Central Banks: Space to deliver more easing, if required – Standard Chartered
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY fails to extend attempted recovery beyond 110.00 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 09.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD finds little relief in RBA steady hand
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY Technical Analysis: Door open for extra losses to 128.40
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Dollar Index probes daily tops near 97.60
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold eases from near 2-week tops, focus remains on US-China trade talks
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY in search of a firm direction, stuck in a range below 111.00 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Near term bearish below the 55-day SMA at 1.1268
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Australia: Lowest real retail growth since 2012
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 06.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD: Short term downtrend eroded - Commerzbank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar softens on wage focus; RBA and RBNZ easing eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 03.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Techs lean bearish ahead of US non-farm payrolls
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Asia: Material improvement in external positions
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Technical Analysis: Falls to over 1-week lows, further slide to $1260 area now looks a distinct possibility
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -02.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar rally stalls ahead of FOMC, NFP, Trade Talks, and Earnings
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Big Earnings, Rate Decisions and US GDP once markets return from holiday
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD inches higher to 0.7160, but lacks follow-through
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY frozen near 111.90 ahead of US housing data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Yen ignores BOJ operation, Good Friday quiet trading to extend
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD consolidates the slide near 1.1250, US retail sales eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY-18.04.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Company News
Easter Trading Schedule
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD is holding steady
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD: Recovery towards 1.3100 on its way ahead of UK CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FX Today: Antipodeans rescued by strong China data; focus on UK/ Eurozone CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613