Forex

Event calendar

20

AUD: Watching wages - Rabobank Sandeep Kanihama

For many developed economies, the most important data release at present refers to wage inflation and in Australia the key Q4 wage price index is due for release tomorrow, points out Jane Foley, FX Strategist at Rabobank.Key Quotes“Several major central banks, including the Fed and the BoE, are assuming that an increase in CPI inflation will be driven higher by an increase in dema...

13:46 20 February /2018 Forex

EUR/USD depressed around 1.2340, ignores mixed ZEW Pablo Piovano

The offered note stays the same around the single currency on Tuesday and is now forcing EUR/USD to move further south to fresh session lows in the 1.2340  region.EUR/USD offered on ZEW, looks to ECBSpot keeps the negative performance during the first half of the week, this time under extra pressure after th...

13:46 20 February /2018 Forex

EUR/USD still very much on corrective mode - SocGen Sandeep Kanihama

EUR/USD, having failed to break to new highs last week, is still very much on corrective mode, suggests Kit Juckes, Research Analyst at Societe Generale.Key Quotes“Broadly, 1.22-1.26 is now a neutral zone and a test of something near 1.22 seems quite likely to me, particularly if tomorrow's PMI data show any signs of topping out and the

13:46 20 February /2018 Forex

USD/JPY prints daily highs above 107.00 Pablo Piovano

The buying interest around the greenback stays well and sound during the first half if the week and is now pushing USD/JPY back above the critical 107.00 handle, recording fresh daily highs at the same time.USD/JPY focused on risk trends, FOMCThe pair is confirming a positi...

13:23 20 February /2018 Forex

German ZEW Economic sentiment index drops in Feb, but beats estimates Dhwani Mehta

The German ZEW headline numbers for February, showed that the headline economic sentiment improved, coming in at 17.8 versus 16.0 expectations and 20.4 seen last. While the sub-index current conditions rose sharply to 92.3 versus 93.9 expected and 95.2 booked previously.

13:23 20 February /2018 Forex

Oil trades mixed: WTI trims gains ahead of US API report Dhwani Mehta

Oil prices on both sides of the Atlantic traded in opposite direction on Tuesday, with the US oil (WTI) supported on supply disruption while Brent trades on the back foot amid broad-based US dollar strength.WTI (oil futures on NYMEX) extends its upward correction into a fifth day, with thin markets fuelling the gains while ongoi...

13:00 20 February /2018 Forex

UAE OilMin: cooperation between OPEC, allies to continue beyond 2018 - RTRS Haresh Menghani

The United Arab Emirates (UAE) Energy Minister Suhail Al Mazrouei is out on the wires, via Reuters, saying that cooperation between OPEC, allies to continue beyond 2018.Key quotes:    •  Future cooperation could help avoid oil glut, shortage 
   •  Monitoring oil market beyond 2018 is minimum we can do
   •  Need approx $10 Tln...

12:46 20 February /2018 Forex

USD/CHF surges to 4-day tops, around mid-0.9300s Haresh Menghani

   •  USD recovery gains traction from rising US bond yields.
   •  Improving risk appetite weighs on CHF’s safe-haven appeal.The USD/CHF pair built on its recent recovery move from Friday's 20-month lows and strengthened further beyond the 0.9300 handle.The pair continued gaining positive traction for the third consecutive session and has no...

12:46 20 February /2018 Forex

AUD forecasts revised but depreciation still anticipated – NAB Sandeep Kanihama

Analysts at NAB have adjusted their AUD forecasts lower, after in November when they suggested AUD/USD was heading into a 0.70-0.75 range, the USD was 5% stronger and the AUD/USD 0.76.Key Quotes“The sharp AUD appreciation in recent months (despite falls in the past few weeks) has challenged this view. We do however still anticipate a drop to at l...

12:46 20 February /2018 Forex

OPEC committee: pace of oil rebalancing quickening - BBG Haresh Menghani

According to a Bloomberg report, citing people familiar with the matter, the latest discussions of the Joint Technical Committee of OPEC and non-OPEC nations have concluded that the oil glut is dissipating at a faster pace and the market will now rebalance between Q2 and Q3.Additional headlines:   •  Previous discussions concluded that...

12:00 20 February /2018 Forex

EUR/USD attempts tepid bounce near 1.2365 ahead of German ZEW Dhwani Mehta

The EUR/USD pair is seen making minor-recovery attempts from a brief dip below the midpoint of the 1.23 handle, as the bears take a breather ahead of the German ZEW economic surveys.EUR/USD reverts 10-DMA at 1.2367The spot extended its bearish momentum for the third straight session and wen...

12:00 20 February /2018 Forex

AUD/USD eases from tops, but manages to hold above 0.79 handle Haresh Menghani

   •  Continues to find some dip buying below 0.79 mark.
   •  Rising US bond yields/follow-through USD demand capping gains.
   •  Focus remains on Wednesday’s FOMC meeting minutes.The AUD/USD pair lacked any firm directional bias and seesawed between tepid gains/minor losses around the 0.7900 handle. The pair once again managed to find so...

11:46 20 February /2018 Forex

EUR/USD neutral, needs to clear 1.2555 for extra gains – UOB Pablo Piovano

The pair keeps the neutral bias for the time being, while it should clear the mid-1.2500s in order to sustain another leg higher, commented FX Strategists at UOB Group.Key Quotes24-hour view: “In line with expectation, EUR moved below last Friday’s 1.2392 low but the down-move was checked by the 1.2360 suppo...

11:23 20 February /2018 Forex

USD/JPY targets 104.00 near term – Danske Bank Pablo Piovano

Jens Sorensen, Chief Analyst at Danske Bank, believes the Japanese safe haven could gather extra traction in the next 1-3 months.Key QuotesUSD/JPY has stabilised after past weeks’ sell-off. 25 delta USD/JPY risk reversals have bounced higher, which could indicate near-term...

11:23 20 February /2018 Forex

USD/CAD spikes to fresh session tops, near 1.26 handle Haresh Menghani

   •  Stronger USD helps regain positive traction.
   •  Loonie fails to benefit from bullish oil prices. The USD/CAD pair caught some fresh bids on Tuesday and might now be eyeing to move back above the 1.2600 handle. On Monday, the pair did breakthrough 50-day SMA barrier but failed to build on the up-move, amid subdued trading conditions on ...

11:00 20 February /2018 Forex

USD/JPY end of the move lower? – Commerzbank Pablo Piovano

In light of the ongoing recovery, the pair’s down move could be drawing to an end, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.Key QuotesUSD/JPY is recovering. Last week the market eroded but did not close below the 105.73 200 month ma. We note the 13 count ...

11:00 20 February /2018 Forex

Gold falls for third day in a row, weighed down by stronger USD Haresh Menghani

   •  USD recovery gains traction and prompts further selling.
   •  Rising US bond yields add to the downward pressure. Gold prices continued to slide for the third straight session on Tuesday and dropped to a four-day low level, around the $1340 region.A combination of negative factors, ranging from a follow-through 10:46 20 February /2018 Forex

EUR/USD keeps the negative stance – Commerzbank Pablo Piovano

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair keeps the negative bias for the time being.Key QuotesEUR/USD has started to erode the 20 day ma at 1.2386. Last week the market saw a minor break to a new high, which was not sustained and the new high has be...

10:46 20 February /2018 Forex

GBP/USD remains neutral, further consolidation likely – UOB Pablo Piovano

In view of FX Strategists at UOB Group, Cable could extend the consolidative theme while within the current neutral outlook.Key Quotes“As highlighted yesterday (19 Feb), the rapid up-move in GBP last week appears to be running ahead of itself. However, a move above last Friday’s 1.4145 peak is not ruled out ...

10:46 20 February /2018 Forex

EUR/USD flirting with lows near 1.2380 ahead of ZEW Pablo Piovano

The sentiment around the shared currency remains depressed during the first half of the week and is now dragging EUR/USD to test the lower end of the weekly range in the 1.2385/80 band.EUR/USD focused on ZEW, FOMCSpot is losing ground for the third session in a row...

10:23 20 February /2018 Forex