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Will the US government shut again? - BBH Ross J Burland

Analysts at Brown Brothers Harriman noted that the short-term solution reached last month to extend the US federal government's funding expires on Thursday, February 8 and suggests what to watch.Key Quotes:"Leaders from both parties say they want to avoid another partial closur...

19:46 05 February /2018 Forex

Draghi Speech: appearing before EU parliament in Strasbourg Ross J Burland

Mario Draghi, President of the ECB, appearing before the EU parliament in Strasbourg: "Statement of the President of the ECB on the Draft Resolution of the European Parliament concerning the ECB Annual Report 2016 in the European Parliament Plenary in Strasbourg, France". He has been hawkish here but th...

19:23 05 February /2018 Forex

USD/JPY rises back above 110.00, still limited by the 20-SMA Matías Salord

The USD/JPY pair received an impulse from US data and a recovery in US equity markets. It rose back above 110.00 erasing daily losses. The greenback was rising in the market and accelerated after the release of data. The US ISM non-manufacturing came in above expectations, reaching in January 59.9 (vs 56.6).“The services sector is growing at a rapid clip: the sco...

19:23 05 February /2018 Forex

Central Bank watch - UOB Ross J Burland

Analysts at UOB Group highlighted key events surrounding the Central Banks.Key Quotes:"San Francisco Fed President Williams (voter) said the US economy is performing as expected and has not shifted gears. Overall, he thinks three or four rate hikes for 2018 would be reasonable and would be data dependent. Dallas Fed President Kaplan ...

19:00 05 February /2018 Forex

EUR/GBP: rally consolidates above key technical levels, more to go? Ross J Burland

EUR/GBP's rally has stalled although the technical picture has turned highly bullish with 4hr RSI on the brink of overbought territory with price above key moving averages the same time frame. Currently, EUR/GBP is trading at 0.8855, up 0.35% on the day, having posted a daily high at 0.8874 and low at 0.8810.Sterling under pressure on busy week aheadOn a busy week ahead for UK mar...

18:46 05 February /2018 Forex

EUR/USD finds good support near 1.2400 Pablo Piovano

After dropping to fresh lows in the 1.2400 neighbourhood, EUR/USD seems to have found some dip-buyers and is now looking to regain the 1.2420 area.EUR/USD offered on stronger USDThe continuation of the bid fashion surrounding the buck has forced the pair to recede towards t...

18:46 05 February /2018 Forex

GBP/USD: 1.3983 holding up, so far, headed to 1.3600? - Scotiabank Ross J Burland

Analysts at Scotiabank noted the techncials around GBP/USD.Key Quotes:"GBP/USD has struggled to extend gains through the upper 1.42 area in the past two weeks and now looks prone to a test of key support (late Jan low) at 1.3983. Short-term price trends look negative and a push under support in the upper 1.39s suggests the risk of weakness extend...

18:23 05 February /2018 Forex

Fed’s Powell: will support price stability, continued growth Haresh Menghani

After being sworn in as the Chairman of Fed Board of Governors, Jerome H. Powell, in a video statement, said that the central bank will stay vigilant on financial stability and will support price stability, continued growth. Additional headlines:   •  US financial stability is ‘far stronger & resilient’
   •  Notes Fed's non-...

17:46 05 February /2018 Forex

USD/CHF jumps to fresh session tops, closer to mid-0.9300s Haresh Menghani

   •  Reviving USD demand helps build on post-NFP rebound. 
   •  Risk-off mood/softer US bond yields do little to dampen sentiment.The USD/CHF pair quickly reversed an early dip to sub-0.9300 level and is currently placed at session tops, over 40-pips above session lows. After an initial wobble, th...

17:46 05 February /2018 Forex

USD/CAD neutral-bullish short-term – Scotiabank Pablo Piovano

FX Strategists at Scotiabank gave their views on the pair, expecting at the same time a potential test of the 1.2600 handle.Key Quotes“Bearish momentum signals have faded to neutral and DMI’s are confirming a shift in the balance of risk”.“Both the 9 and 21 day MA’s have been broken, the latter for the first time since late December”.“We look to near-term gains toward 1.2480 and 1...

17:46 05 February /2018 Forex

WTI depressed below $65.00, US production weighs Pablo Piovano

Crude oil prices are extending the bearish note at the beginning of the week, with the barrel of West Texas Intermediate posting moderate losses in the proximity of the $65.00 mark.WTI looks to data for directionPrices of the barrel of the American b...

17:23 05 February /2018 Forex

EUR/USD stuck in a range, around mid-1.2400s ahead of Draghi’s speech Haresh Menghani

   •  Surrenders upbeat EZ PMI led early gains. 
   •  Reviving USD demand seemed to cap up-move. 
   •  US ISM PMI and Draghi eyed for fresh impetus.The EUR/USD pair struggled to build on early up-move and has now retreated around 25-30 pips from session tops. The pair did attempt to build on its post-NFP rebound from the 1.2400 neighbor...

17:00 05 February /2018 Forex

Gold clings to minor recovery gains, reviving USD demand capping gains Haresh Menghani

   •  A modest USD uptick negated by sliding US bond yields. 
   •  Risk-off environment underpinning safe-haven demand.Gold held on to its modest recovery gains through the mid-European session but now seems struggling to gain any strong follow-through traction further beyond $1340 level.Reviving US D...

16:23 05 February /2018 Forex

EUR longs gained ground, USD positions continued to push into negative ground - Rabobank Sandeep Kanihama

According to IMM net speculators’ positioning as at January 30, 2018, net USD positions continued to push into negative ground last week, though net shorts remain below the levels achieved at the end of November. Key Quotes“The impact of higher Fed rates in the FX market has been diluted by talk of l...

16:23 05 February /2018 Forex

USD/CAD rises back closer to session tops, around mid-1.2400s Haresh Menghani

   •  USD manages to recover early lost ground.
   •  Weaker oil prices lending additional support.
   •  US ISM PMI eyed for fresh trading impetus.The USD/CAD pair caught some fresh bids near the 1.2400 handle and is now headed back towards the top end of its daily trading range. The latest leg of up-move of over 40-pips since the early Eu...

16:00 05 February /2018 Forex

EUR/JPY in 2-day lows near 136.50 Pablo Piovano

The softer tone around the European currency is motivating EUR/JPY to drop to the area of daily lows in the mid-136.00s.EUR/JPY gains capped near 137.50The cross is correcting lower after three consecutive sessions with gains, including Friday’s peak around 137.50, levels last traded in late August 2015.The shared currency is ext...

16:00 05 February /2018 Forex

AUD/USD bearish on a close below 0.7860 – UOB Pablo Piovano

The outlook on the Aussie Dollar should shift to bearish from neutral on a daily close below 0.7860, suggested FX Strategists at UOB Group.Key Quotes24-hour view: “The outsized drop in AUD last Friday came as big surprise. The sharp decline appears to be running ahead of itself even though a test of 0.7860 w...

15:23 05 February /2018 Forex

GBP/JPY tumbles to fresh lows, risks breaking below 154.00 mark Haresh Menghani

   •  GBP weighed down by incoming softer UK data.
   •  Risk aversion trade boosts JPY’s safe-haven demand. 
   •  Technically seems vulnerable to slide further. The GBP/JPY cross remained heavily offered for the second consecutive session and dropped to the 154.00 neighborhood during the mid-European session on Monday. The cross extende...

15:23 05 February /2018 Forex

EUR/USD sidelined around 1.2450, US data Pablo Piovano

The consolidative theme around the greenback is leaving EUR/USD to navigate the area around 1.2450 for the time being, fading the initial spike to daily highs around 1.2475.EUR/USD now focused on Draghi, US dataThe pair clings to its daily gains as the greenback is extendin...

14:46 05 February /2018 Forex

GBP/USD hits fresh session lows, retreats farther below 1.41 handle Haresh Menghani

   •  Extend post-UK PMI downslide despite subdued USD demand.
   •  Traders look forward to the US ISM PMI for some fresh impetus. The GBP/USD pair extended its UK PMI-led downslide and has now dropped to the lower end of its daily trading range, retreating over 60-pips from session highs. After an early Asian session dip to the 1.4080 region, the pair gaine...

14:46 05 February /2018 Forex