Forex

Event calendar

23

WTI back above $ 65 mark, but for how long? Dhwani Mehta

WTI (oil futures on NYMEX) extends its bearish momentum for the second straight session, as the hopes of tighter markets in 2018 were squashed by rising US output levels and risk-off market profile.WTI awaits US crude supplies dataThe barrel of WTI attempts a tepid recovery, as the bulls try hard to extend the ...

12:23 05 February /2018 Forex

USD/JPY refreshes session lows, weakens farther below 110.00 mark Haresh Menghani

   •  USD struggles to build on post-NFP rebound. 
   •  Risk-off mood boosts JPY’s safe-haven appeal.
   •  US ISM PMI eyed for some fresh impetus. The USD/JPY pair stalled a modest Asian session rebound near the 110.10 region and refreshed daily lows in the last minute.Against the backdrop of a subdued US Do...

12:23 05 February /2018 Forex

AUD: technical indicators are poor - BBH Sandeep Kanihama

The Australian dollar ends its seven-week with aplomb as it lost more than 2% against the dollar for its biggest weekly fall since mid-November, notes the research team at BBH. Key Quotes“We had seen the Aussie as among the most vulnerable to a turn in the US dollar, and often see it leading the other major currencies.  It had broken down even before the US jobs data, which pushed...

12:23 05 February /2018 Forex

AUD: Looking at RBA for direction? – Westpac Sandeep Kanihama

Sean Callow, Research Analyst at Westpac, explains that the US dollar found support Friday from the yield rise in response to stronger wages growth and along with increased equity volatility, this should weigh on AUD/USD in the week ahead.Key Quotes“We will also hear a lot from the RBA on its return from summer holidays.”“Westpac’s b...

12:23 05 February /2018 Forex

GBP/USD scope for a retreat to 1.3942/1.3658 – Commerzbank Pablo Piovano

Cable could slip back to the 1.3942/1.3658 band, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.Key QuotesGBP/USD is at last retreating from the 50% retracement of 1.4345 of the move down from the 2014 peak. This is tough resistance - directly above here lie...

12:00 05 February /2018 Forex

EUR/USD needs to clear 1.2536 for extra gains – UOB Pablo Piovano

In view of FX Strategists at UOB Group, the pair needs to surpass the 1.2530 region in order to extend the bullish outlook.Key Quotes24-hour view: “The major 1.2536 resistance was unthreatened as EUR eased off rapidly from a high of 1.2518 last Friday. The pull-back from the high has scope to extend lower bu...

12:00 05 February /2018 Forex

Dips in EUR/USD are buying opportunities – Danske Bank Pablo Piovano

Jens Pedersen, Senior Analyst at Danske Bank, recommended buying the pair on occasional drops.Key Quotes“The strong US job report sent EUR/USD towards 1.24 on Friday, but the cross recovered decently in late trading – an illustration that good US news is currently seen as a global positiv...

12:00 05 February /2018 Forex

USD/CAD retreats from near 2-week tops, but holds above 1.24 mark Haresh Menghani

   •  USD struggles to build on post-NFP rebound. 
   •  Sliding oil prices help limit deeper losses. 
   •  US ISM PMI eyed for fresh trading impetus. Having posted a daily high near mid-1.2400s, the USD/CAD pair came under some selling pressure and eroded a part of previous session's strong gains.With investors looking past Friday's upbea...

11:46 05 February /2018 Forex

Gold consolidates post-NFP slide to over 2-week lows Haresh Menghani

   •  Subdued USD demand lends some support.
   •  Risk-off mood provides an additional boost.
   •  Fed rate hike prospects to cap strong gains.Gold consolidated Friday's downfall to over 2-week lows and was seen oscillating in a narrow trading band around the $1330 region. Friday's robust US jobs data raised prospects of at least three rate ...

11:23 05 February /2018 Forex

GBP appears headed for a test - BBH Sandeep Kanihama

Analysts at BBH note that sterling posted about a 0.3% decline last week, which snapped a six-week, 7.8% rally as disappointing UK economic data, more internal woes for the Tories, and a harder line from the EU provided the incentives for the mild profit-taking.Key Quotes“Still, the pound finished well above the week's lows near $1.3980 but appears headed for a test.  A break woul...

11:01 05 February /2018 Forex

USDJPY: Initial support pegged near JPY109.70 - BBH Sandeep Kanihama

Analysts at BBH note that the US dollar rose 1.45% against the Japanese yen last week; its best performance in around 4.5 months.  Key Quotes“The rise in US interest rates and actions by the BOJ that demonstrated its commitment to both Qualitative and Quantitative Easing and Yield Curve Control drove...

10:46 05 February /2018 Forex

AUD/USD clings to recovery gains, comfortable above 0.79 handle Haresh Menghani

   •  USD lacks any follow-through buying interest.
   •  Upbeat Chinese PMI supportive of the rebound.
   •  Surging US bond yields might cap additional gains.The AUD/USD pair quickly reversed a dip to sub-0.7900 level, over 3-week lows, and managed to rebound around 50-pips from session lows. The pair stalled its bearish slide from leve...

10:46 05 February /2018 Forex

EUR/GBP to move slightly higher this week – Danske Bank Sandeep Kanihama

EUR/GBP ended last week slightly higher driven by a sell-off in GBP/USD after strong US data, explains Senior Analyst, Jens Nærvig Pedersen at Danske Bank.Key Quotes“For GBP, attention this week will be on the Bank of England (BoE) meeting on Thursday where focus will be on the BoE’s inflation projection in the short-term. The 10:46 05 February /2018 Forex

EUR/GBP holding but ready to move, EU PMIs to drop soon Joshua Gibson

EUR/GBP is currently trading very tightly against Friday's session high, testing the 0.8825 level ahead of the London market open. EUR/GBP had a volatile ride last week as the Euro and the Sterling trade places with each other in risk sentiment, and the data-laden week ahead will do little to keep the pair calm.European markets have Markit Service PMIs today for the broad region, with staggered re...

10:23 05 February /2018 Forex

EUR/USD correction lower expected below 1.2335 – Commerzbank Pablo Piovano

Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees losses could accelerate on a break below the 1.2330 region.Key QuotesEUR/USD consolidated on Friday, it has recently reached long term Fibonacci resistance at 1.2517/1.2600. The risk of a near term correction lower rem...

10:23 05 February /2018 Forex

GBP/USD risks further downside – UOB Pablo Piovano

FX Strategists at UOB Group noted the neutral stance on Cable, which risks another leg lower in the short  term.Key Quotes24-hour view: “The sharp drop in GBP last Friday that sliced through several strong support levels with ease was unexpected. The decline appears incomplete and further extension to 1.4040...

10:23 05 February /2018 Forex

USD/JPY caught within range – Danske Bank Pablo Piovano

Senior Analyst at Danske Bank Jens Pedersen expects the pair to remain within the 108.25-110.84 range for the time being.Key Quotes“USD/JPY bounced above 110 on Friday for the first time since 24 January supported by BoJ’s fixed price operation and the strong US jobs report”.“The correlation between US fixed income market a...

10:23 05 February /2018 Forex

EUR/USD eases to 1.2450, USD stays bid Pablo Piovano

The buying interest around the greenback remains well and sound at the beginning of the week and is now prompting EUR/USD to ease a tad to the mid-1.2400s.EUR/USD looks to data, DraghiSpot is alternating gains with losses on Monday as market participants continue to digest ...

10:00 05 February /2018 Forex

EUR continues to be resilient - BBH Sandeep Kanihama

In view of analysts at BBH, the euro continues to be resilient as it did not fall to new lows for the week after the US jobs data and held above $1.24. Key Quotes“Nevertheless, the upside momentum has stalled, and interest rate differential is such that it costs to be long the euro if it is going to move sideways, if not lower.  Important support is not so much at $1.24 as last we...

09:46 05 February /2018 Forex

RBNZ seen on-hold this week – Reuters poll Dhwani Mehta

According to the Reuters poll of 15 economists, the Reserve Bank of New Zealand (RBNZ) is seen keeping its Official Cash Rate (OCR) on-hold at its monetary policy meeting to be held this Thursday.Key Findings:All 15 economists in survey see RBNZ holding cash rate at record low 1.75% on Feb 8.7 of 15 economists surve...

09:23 05 February /2018 Forex