Dukascopy_Analyst

Dukascopy_Analyst

"We're now more conscious that there's strength in the U.S. economy. There were some views that the U.S. won't be able to raise rates on economic concern, so the weakening dollar should take a break." - Okasan Securities Co. (based on Bloomberg) Pair's Outlook The British Pound remained almost completely unchanged against the US Dollar on Friday, with the...

Dukascopy_Analyst

"Fed officials generally looked to share views that they need to maintain a rate hike path given a U.S. recovery." - Samsung Futures (based on Reuters) Pair's Outlook Trading volume on Friday dropped to even lower levels than during the pre-Christmas season, but it failed to raise volatility of the EUR/USD cross. It is broadly flat between 1.1160 and 1.1180,...

Dukascopy_Analyst

"We think the dollar is going to be more range bound . I think commodities can find a footing. They work back down and not make new lows. That would be a bullish setup for the market." - Oppenheimer (based on CNBC) Pair's Outlook Bearish market participants continued to push gold prices to the downside on Thursday. At the same time, scope of the selloff is...

Dukascopy_Analyst

"The higher dollar trend is becoming more evident against the yen. But the move broadly remains within an adjustment from the post-Fed bearishness." - Jun Kato, Shinkin Asset Management (based on Bloomberg) Pair's Outlook The US Dollar was able to outperform the Japanese Yen on Thursday, with the 20-day SMA limiting the gains. The same level is acting as the...

Dukascopy_Analyst

"Until the referendum takes place in June, we view the risk to our estimates of a weaker pound as standing to the downside, although we would note that the market is already starting from a net short position, whereas short cable became a more popular trade only around 10 days before the Scottish referendum in September 2014." - Goldman Sachs (based on Business...

Dukascopy_Analyst

"Hawkish Fed talk this week has caught a market that has largely underestimated the risk of U.S. rate rises, while lighter, pre-holiday trade seems to be enhancing the dollar's resurgence." - Western Union Business Solutions (based on Reuters) Pair's Outlook As a result of the whole trading day on March 24, the most popular FX pair lost only six pips. Trading...

Dukascopy_Analyst

"As their prices fall, markets are turning risk-off. We also should expect some correction given the fast pace of recovery in various asset markets." - Dai-ichi Life Research Institute (based on Reuters) Pair's Outlook Gold sank the most since July 2015 yesterday, by coming down from the 1,250 area in the beginning of daily trading to below 1,220 later. This...

Dukascopy_Analyst

"The hawkish comments from Fed officials have helped, but participants adjusting their positions before the Easter weekend also appear to be supporting the dollar." - Barclays (based on CNBC) Pair's Outlook The USD/JPY pair was unable to sustain growth yesterday, resulting in the exchange rate remaining flat over the day. The Buck now risks making a U-turn and...

Dukascopy_Analyst

"Sterling is clearly underperforming. It's on the back of a combination of factors -- one of which is the concern that the tragic event could indeed support the campaign to leave the EU." - Credit Agricole SA (based on Bloomberg) Pair's Outlook ‘Brexit' fears continued to weigh on the British Pound, even causing it to plunge under the monthly PP yesterday....

Dukascopy_Analyst

" the more Fed officials stress that each FOMC meeting is "live" the more market price action suggests market participants are beginning to listen." - Bank of Tokyo-Mitsubishi (based on WBP Online) Pair's Outlook EUR/USD eased for a fourth consecutive working day on Wednesday, but scope of losses remains insignificant. We are still waiting for a testing of...

Dukascopy_Analyst

"Particularly in the U.S., this slow normalization of the economy should result in a grind higher in real interest rates and cap the attractiveness of precious metals as an investment." - BMI Research (based on CNBC) Pair's Outlook The bullion's activity is very high this Wednesday morning. Following the bullish failure to push prices anywhere beyond the 1,250...

Dukascopy_Analyst

"The news is having impact on sentiment. Safe-haven currencies are being supported on the headlines." - Nomura (based on Reuters) Pair's Outlook The Greenback extended its gains against the Yen on Tuesday, breaching the immediate resistance in face of the weekly PP. The US Dollar is expected to prolong its rally, but with gains limited by the 113.00 major...

Dukascopy_Analyst

"The attack in Brussels, on the back of terrorist attacks in Turkey over the weekend ... is bad news for the U.K., because it plays into the hands of those who want to leave, thinking that somehow if they leave they're safe." - Brown Brothers Harriman (based on CNBC) Pair's Outlook Upon retaking the 1.44 psychological level on Tuesday, the Pound suddenly made...

Dukascopy_Analyst

"Evans's comments are taken hawkishly by the U.S. dollar." - Westpac Banking Corp (based on Bloomberg) Pair's Outlook Inside the current triangle pattern (boundaries at 1.1310 and 1.0860), EUR/USD is now descending to the South. Yesterday it slid below the weekly PP, monthly R1 and 23.6% Fibonacci retracement of this month's earlier climb. The primary target...

Dukascopy_Analyst

"There's a little bit of fatigue in there as well with the strong rally we've seen in the past few weeks, so it feels like a bit of profit taking going on sparked by the Fed comments." - ANZ (based on CNBC) Pair's Outlook Gold has formally broken the long-term uptrend line near 1,245 yesterday, but it has a chance to show the bulls remain active. The drop was...

Dukascopy_Analyst

"JPY longs finally dropped last week from their highest levels since 2008. This coincided with a better tone in many stock markets and suggests that risk appetite has improved." - Rabobank (based on WBP Online) Pair's Outlook The USD/JPY currency pair extended its recovery yesterday, reaching the 112.00 major level. The Greenback now faces an immediate...

Dukascopy_Analyst

"Politics is going to be more important than economics for the next three months in the UK and so far, both major political parties seem pretty keen on tearing themselves apart from within. The resignation of Iain Duncan Smith will simply add another layer of political risk to sterling's prospects." - Societe Generale (based on Reuters) Pair's Outlook On...

Dukascopy_Analyst

"Amid some volatility, the dollar will be in a downward trend." - Macquarie Bank (based on Bloomberg) Pair's Outlook Fluctuations of the most traded FX currency pair were quite limited on Monday, mainly owing to emptiness of the economic calendar. Daily range stood within 20 pips, meaning EUR/USD is maintaining 1.1227/23 as the immediate support. We are...