Forex

Event calendar

19

WTI pushes higher around $62.00 Pablo Piovano

The barrel of the American reference for the sweet light crude oil is extending the upside momentum this week around/above the key $62.00 mark.WTI propped up by geopolitical concernsPrices of the barrel of West Texas Intermediate are up for the fourt...

18:23 19 February /2018 Forex

USD/JPY oversold, could test 105.00 – UOB Pablo Piovano

The pair’s condition remains oversold for the time being and a test of the 105.00 still stays on the cards, according to FX Strategists at UOB Group.Key Quotes24-hour view: “USD rebounded strongly from a fresh low of 105.52 last Friday. Downward pressure has eased and USD has likely moved into a consolidatio...

18:23 19 February /2018 Forex

NZD/USD plummets to lows, around mid-0.7300s Haresh Menghani

   •  USD demand picks-up pace during the early NA session.
   •  Long-unwinding trade adds to the downward pressure.The NZD/USD pair extended its retracement slide from the 0.7400-0.7410 supply zone and tumbled to 3-day lows, around the 0.7360-50 region in the last minute. The pair continued with its struggle to build on its up-move beyond t...

18:00 19 February /2018 Forex

USD/CAD surges to fresh session tops, nearing 1.26 handle Haresh Menghani

   •  Goodish pickup in the USD demand helps build on Friday’s strong gains. 
   •  Positive oil prices did little to support Loonie and stall the up-move.
   •  Move above 50-DMA seems to have triggered a short-covering move. The USD/CAD pair caught some fresh bids near the 1.2525-30 region and broke through the 50-day SMA hurdle during th...

17:46 19 February /2018 Forex

GBP/USD poised for further consolidation – UOB Pablo Piovano

FX Strategists at UOB Group remain neutral on Cable, while allow for extra consolidation in the next weeks.Key Quotes24-hour view: “The rapid and sharp drop from a high of 1.4145 suggests that a short-term top is in place. The current movement is viewed as a part of a consolidation phase and GBP is expected to trade sideways for today, likely within a 1.3970/1.4080 range”.Next 1-3...

17:23 19 February /2018 Forex

EUR/USD further upside unlikely – UOB Pablo Piovano

In view of FX Strategists at UOB Group, the pair’s outlook stays neutral with extra gains unlikely for the time being.Key Quotes24-hour view: “EUR edged to a fresh multi-year high of 1.2555 but dropped sharply and rapidly to end not far from the low at 1.2404 (low has been 1.2392). The decline appears to have room to move below the 1.2392 low but any weakness is unlikely to be sus...

16:46 19 February /2018 Forex

GBP/USD breaks below 1.40 handle, 3-day lows ahead of Carney's speech Haresh Menghani

   •  Reviving USD demand prompts some fresh selling at higher levels. 
   •  GBP further weighed down by uncertainty over the upcoming Brexit talks.
   •  Carney’s speech eyed for some short-term trading impetus.The GBP/USD pair's early European session rebound quickly ran out of steam near the 1.4030 level, with bears once again eyeing ...

16:46 19 February /2018 Forex

Gold struggles to gain traction, confined in a range below $1350 level Haresh Menghani

   •  Subdued USD price-action fails to provide fresh impetus.
   •  Rising equities further denting safe-haven demand. Having faded an early Asian session spike to an intraday high level of $1351.40, gold entered a consolidation phase and is currently placed at the lower end of its daily trading ra...

16:23 19 February /2018 Forex

EUR: 1.26 is the key number - BBH Sandeep Kanihama

Analysts at BBH suggest that 1.26 is a key area for the euro. Key Quotes“There are two important technical levels.  First, it is the last major retracement objective of the euro's down move that began in mid-2014.  Second, it is where a downtrend from the record high (2008 ~$1.60) is to be found.”“A convincing move above there would likely spur action by some of the struct...

16:23 19 February /2018 Forex

USD/JPY recovery stalls near 106.70, FOMC on sight Pablo Piovano

The greenback is posting moderate gains vs. its Japanese counterpart at the beginning of the week and is now collaborating with USD/JPY’s recovery to the 10.70 region, where sellers seem to have stepped in.USD/JPY now looks to FOMCAfter testing fresh cycle lows in the mid-1...

16:23 19 February /2018 Forex

AUD/USD clings to daily gains but lacks follow-through Haresh Menghani

   •  Subdued USD demand supportive of the uptick. 
   •  Weaker commodity/risk sentiment seemed to cap. 
   •  Tuesday’s RBA minutes eyed for fresh impetus. The AUD/USD pair maintained its bid tone through the mid-European session and is currently placed near the top end of its daily trading rang...

15:46 19 February /2018 Forex

EUR/JPY flirting with tops near 132.30 Pablo Piovano

The selling bias around the Japanese safe haven currency has resumed at the beginning of the week and is now helping EUR/JPY to clinch daily highs in the 132.30 area on Monday.EUR/JPY focus on EUR docketThe recent buying interest around JPY appears mitigated at the beginning of the week and is now collaborating with the ongoing r...

15:23 19 February /2018 Forex

EUR/USD holds above 1.24 handle amid subdued trading action Haresh Menghani

   •  Lacks any firm directional bias amid holiday-thinned trade.
   •  Investors refrain from placing bets ahead of FOMC/ECB minutes. The EUR/USD pair extended its consolidative price action through the mid-European session and seesawed between tepid gains/minor losses within a narrow trading range.The pair initially rose to an intraday high level of 1.2435 ...

15:00 19 February /2018 Forex

Bundesbank: Germany’s economy is booming Haresh Menghani

Here are some of the key highlights from the Deutsche Bundesbank's monthly economic bulletin on the Germany economy, released this Monday.    •  Recent rise in forward rates partially based on Jan. release of minutes from ECB’s Dec. governing council meeting   •  ‘Burgeoning’ industrial orders, persistently positive economic sentiment suggest rapid pace of German expansion to continue this year   ...

14:23 19 February /2018 Forex

USDJPY: Twin deficits and inflation will result in weak dollar - Nomura Sandeep Kanihama

USD/JPY’s plunge to levels last seen in late 2016 has caught many by surprise, but it fits neatly into a dollar downtrend narrative, according to Bilal Hafeez, Research Analyst at Nomura.Key Quotes“Indeed, EUR/JPY has broadly been in a range since September last year, suggesting that we are not seeing a yen- or euro-specific move, but rather a dollar move. Remember, the euro is al...

14:23 19 February /2018 Forex

GBP futures: losing upside momentum Pablo Piovano

In light of flash figures for GBP futures markets from CME Group, investors trimmed their open interest positions by just over 100 contracts on Friday vs. Thursday’s 188,807 contracts. In the same direction, volume decreased by almost 20K contracts, recording the second consecutive drop.GBP/USD: correction could re-test 1.3813:46 19 February /2018 Forex

Carney’s speech delayed by 1 hour to 1845 GMT today Dhwani Mehta

Livesquawk reports that the BOE Governor Carney’s speech scheduled today at Regents University Joint Seminar on Leadership and Values has been delayed by 1 hour to 1845 GMT.

13:23 19 February /2018 Forex

EUR futures: scope for extra downside Pablo Piovano

CME Group’s advanced data for EUR futures markets showed open interest rose by more than 6.2K contracts on Friday vs. Thursday’s 574,231 contracts. In the same line, volume rose by more than 35.1K contracts.EUR/USD still points to 1.2165EUR/USD’s charted a key reversal day ...

13:23 19 February /2018 Forex

EUR net longs fall, JPY shorts drop - Nomura Sandeep Kanihama

In the week ended 13 February, leveraged funds’ net long position in EUR fell from 38% to 30% and asset managers remained long EUR, with the current level (37%) broadly in line with the six-month average, notes the research team at Nomura.Key Quotes“On the other hand, leveraged funds decreased GBP net longs from to 56 from 59%, a high since early-June 2014. Asset managers’ net sho...

13:23 19 February /2018 Forex

GBPUSD jumps back beyond 1.4000, Carney’s speech eyed Dhwani Mehta

Fresh bids emerged once again below the 1.40 handle, allowing a tepid recovery in the GBPUSD pair back above the last, as broad-based US dollar recovery appears to have run out of legs over the last hours.GBPUSD regains 20-DMA at 1.4017The spot is seen reversing a part of i...

13:00 19 February /2018 Forex