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"Westpac: recommendations for AUD/USD"(2012-03-07) Technical analysts at Westpac note that Australian dollar has finally breached its sideways trend as it dipped below $1.6000. The specialists believe that Aussie’s fair value is in the area of parity with its US counterpart. The bank recommends selling AUD/USD on the rallies to $1.0600. The pair may return to this level helped by global risk appetite. The specialists expect Australian currency to decline to $1.0300/1.0400 in several weeks. The argument in favor of selling AUD is that the Federal Reserve didn’t hint on more QE. In addition, the analysts observe that Japanese retail investors show no sign of rebuilding their unusually low AUD/JPY long positions after they have taken profits on AUD/JPY’s advance in the first 2 months of the year. However, for the pair to fall lower, to $1.0200, there should be some really negative news such as Greece’s default. Chart. Daily AUD/USD Comment here http://www.fbs.com/analytics/2012-03-07/16827-westpac-recommendations-audusd

"EUR/USD managed to recover a bit "(2012-03-07) The single currency rebounded today from the minimums in the $1.3111 area. Analysts at Forecast Pte note that the market’s speculation about barrier options with a $1.3100 knock-out strike. Holders of these options appear to be buying the euro in order to protect themselves. Knock-out option is an option with a built-in mechanism to expire if a specified price level is passed. Such option sets a floor or cap to the level which an option can reach in favor of the holder. As knock options limits the profit potential for the option buyer. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/2012-03-07/16824-eurusd-managed-recover-bit

"March 7: main economic news & events "(2012-03-07) Australian GDP growth turned out to be lower than expected: 0.4% instead of 0.7% forecast. In the previous quarter the indicator reached 0.8%. As a consequence, the Aussie dropped testing to the level of $1.0500 before recovering to $1.0560. China's export and import growth is anticipated to slow to around 7% year-on-year in January-February. However, the country plans to adopt measures to help the exporters cope with difficulties such as an insufficient number of orders from elsewhere in the world, rising costs and growing trade frictions. Minister of Commerce Chen Deming said that the passage of a bill by the US Senate to empower the Department of Commerce to impose countervailing duties on Chinese imports is not in line with the rules of the World Trade Organization. Japan’s foreign reserves fell to $1.303 trillion at the end of February, posting the first fall in two months, as lower prices of U.S. Treasury notes offset higher gold prices. February’s reserves fell from a record high of $1.307 trillion marked at the end of January. The MOF said Japan did not intervene in the forex market between January and February. Japanese yen held gains from yesterday versus most of its major peers concern about Greece’s ability to complete a debt swap supported demand for the currency as a refuge. Analysts at Sumitomo Mitsui believe that USD/JPY may go down to the 80 yen level and lower. The pair dropped from March 2 maximum at 81.87 to the 80.65 yen area. In the UK shop price inflation edged down from 1.4% in January to 1.2% hitting its lowest level since March 2010. One of the reasons for this is that the January 2011 VAT hike has dropped out of the comparatives and in part by consumer caution. It is also important to note that the growth in permanent job placements picked up speed in February following the rise in January, which had been the first expansion since September last year. Economists say that the data point to a broad stabilization in the labor market rather than any permanent upward shift in employment. Greek PSI deal remains in the center of markets attention as the time given to Greece’s private creditors to decide on their voluntary participation in the debt swap runs out tomorrow. The euro has weakened 3% in the past six months, while the dollar has strengthened 4.4% according to Bloomberg. The yen decreased by 2.3%. Events to watch At 8:00 a.m. GMT watch SNB’s foreign currency reserves data. The increase of reserves might be franc-negative. In the United States one should pay attention to ADP February Non-Farm employment change at 1:30 p.m. GMT (jobs growth’s expected, this index may provide some hints at Friday’s NFP data which is released by the US Labor Department) and January building permits (negative projection). The country is also to publish revised data on non-farm productivity and labor costs, which are important inflationary indicators, and a report on crude oil stockpiles. To learn more about today’s economic data releases consult FBS economic calendar. Chart. Daily AUD/USD Comment here http://www.fbs.com/analytics/2012-03-07/16821-march-7-main-economic-events

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"Greece’s deal with private creditors and euro’s prospects "(2012-03-06) EUR/USD dropped to $1.3180 today amid data that the euro-zone GDP fell 0.3% last quarter from the previous three months. Time for reflection on the question of the participation of the private sector in Greek bond swaps is running out. Greek Finance Minister Evangelos Venizelos suggested the country is ready to strong-arm private investors into accepting a deal that could have far-reaching implications for markets. He believes that private holders don’t have any better alternative than to submit to Greek terms. Forecasts on prospects of the common currency differ. Some specialists dissuade from buying euro, because, in their opinion, now the European Central Bank is tied up with tackling the region’s sovereign-debt problem and has no room left to bolster the economy through monetary policy. Analysts at UBS claim that there are still a lot of obstacles on euro's road as even ECB’s President Mario Draghi still regards euro-zone’s economic conditions as fragile. As a result, the specialists are bearish on euro in the medium term. In their view, EUR/USD will slide to $1.25 in several months and hit $1.15 in a year. However, other specialists believe that if the agreement on bond swaps is reached, there will be no more serious reasons for concern and a decline in short positions on euro may take place. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/2012-03-06/16817-greeces-deal-private-creditors-and-euros-prospects

"UBS: what to expect from the SNB? "(2012-03-06) Analysts at UBS recommend traders to watch the Swiss National Bank’s meeting on March 15 with great attention. In their view, the pressure on the central bank increased after interim President Jordan confirmed the SNB’s commitment to defend EUR/CHF floor at 1.20 noting that Swiss franc is still greatly overvalued. The specialists say that one may get some hints on what course the SNB will take from Switzerland’s February CPI figures which are released on Thursday. If consumer prices keep showing increasing deflation, the SNB will lift EUR/CHF peg to 1.30 in the second half of 2012. Swiss economy has so far showed inspiring results: retail sales added 4.4% (y/y), GDP rose in the final 3 months of 2011 by 1.3% (vs. the forecast of 0.9%). Chart. Daily EUR/CHF Comment here http://www.fbs.com/analytics/2012-03-06/16814-ubs-what-expect-snb

"Scotiabank: comments on USD/CAD "(2012-03-06) Analysts at Scotiabank note that there are risks for loonie coming from potential slowdown of China’s economic growth – remember that Canadian dollar is a growth-linked currency. “The most significant development is China’s announcement of a 7.5% growth expectation this year, below last year’s 8% and sending shivers down the spines of commodity currency traders. We are medium term CAD bulls, but view the outlook for China’s growth as one of the keys to CAD strength.” “Technically, a USD/CAD close above 0.9953 would be bullish for short‐term traders, with the 200‐day MA of 0.9993 serving as the first level of resistance.” Chart. Daily USD/CAD Comment here http://www.fbs.com/analytics/2012-03-06/16811-scotiabank-comments-usdcad

"J.P.Morgan: trading EUR/USD this week "(2012-03-06) There are several central banks’ meetings this week. Today the RBA left rates unchanged at 4.25%. Wednesday is the day of the RBNZ, while on Thursday we’ll hear from the Bank of England, the ECB and the Bank of Canada. Analysts at J.P. Morgan are focusing on the European Central Bank. In their view, Europe’s monetary authorities won’t change the interest rates. However, the specialists advise investors to pay great attention to what the ECB’s President Mario Draghi will say at the press conference the same day. If the central banker sounds more positive (according to J.P. Morgan, this seems quite likely), euro will get support as the risk aversion will subside. In addition, the European currency will be helped by the high oil prices. As a result, the analysts recommends going long on EUR/USD at $1.3150 stopping above $1.3000 and targeting $1.3500. The bank warns, however, that one should get out of the trade even of the single currency keeps sliding below $1.3500 as the private sector involvement creates dangerous uncertainty. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/2012-03-06/16808-jpmorgan-trading-eurusd-week

"Fiscal Compact's signed, but crisis is not over "(2012-03-06) An important «Fiscal Treaty» was signed on the EU summit, held on Friday, March 1-2. According to this document the budget deficit will be limited to 0, 5 % of GDP; the breakers may be penalized. The pact was signed by 25 EU members, excluding Great Britain and Czech Republic, which are not ready to let the European Commission intervene in its economy. The Fscal Compact is mandatory only for 17 euro-zone countries. Germany forced the conclusion of the treaty: otherwise she would refuse to finance the European Stability Mechanism. It is important to note that the document requires ratification. Besides, the EU leaders tried to persuade everyone that the financial euro-zone crisis is over. «EU shifts from austerity measures to economic growth, » said José Manuel Barroso, the President of the European Commission. However, some analysts find these statements groundless and forecast the situation go from bad to worse. Comment here http://www.fbs.com/analytics/2012-03-06/16806-fiscal-compacts-signed-crisis-not-over

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"Commerzbank: comments on EUR/JPY"(2012-03-05) Last week the single currency fell versus Japanese yen sliding From February 27 maximum at 109.94 to close at 108 yen on Friday. However, technical analysts at Commerzbank note that EUR/JPY has managed to hold above the 200-day MA at 106.88 yen. The specialists believe that the pair will be able to push a bit higher. In their view, resistance for euro lies at 108.85, 109.38/58 (55-day MA, July minimum) and 110.18 (50% Fibonacci retracement of the decline from April to January). According to Commerzbank, the pair’s move up will wear off in the 110.18/111.57 area. The bank notes that support for EUR/JPY is situated at 106.78 (November 14 maximum). Chart. Daily EUR/JPY Comment here http://www.fbs.com/analytics/2012-03-05/16805-commerzbank-comments-eurjpy

"Banks' forecasts for FX majors "(2012-03-05) The following forecasts were updated on March 2 Data from FX Week Comment here http://www.fbs.com/analytics/2012-03-05/16802-banks-forecasts-fx-majors

"BBH: buy USD/CHF "(2012-03-05) Analysts at Brown Brothers Harriman believe that euro’s decline versus the greenback which started last week is likely to continue. In their view, when Europe finalizes the amount of private sector participation in the Greek bailout, euro will likely take a blow, especially if participation is low and credit default swaps are triggered. The specialists think that in would be wiser to stay away from euro this week. As EUR/CHF is close to 1.20, the minimal level set by the Swiss National Bank, “if euro is going to weaken sharply, Swiss franc is going to weaken faster.” Making such assumption, BBH recommends buying US dollar versus Swiss franc. According to the bank, one should go long on USD/CHF at 0.9150 stopping at 0.8950 and targeting 0.9500. Chart. Daily USD/CHF Comment here http://www.fbs.com/analytics/2012-03-05/16800-bbh-buy-usdchf

"Deutsche Bank: pound may strengthen vs. Aussie "(2012-03-05) Analysts at Deutsche Bank believe that British pound may strengthen versus Australian dollar in the coming months. The specialists give the following reasons for such assumption: - Chinese economic growth is slowing down. As Australian economy is tightly connected with the China’s one which is the nation’s major export market, Australian dollar will likely get under pressure. “To a growing cohort of offshore commentators, China is a classic bubble on the brink of collapse. Its economy is chronically unbalanced, over-reliant on investment and cheap manufacturing exports. Financial repression has spurred speculative overbuilding in real estate, and local governments have gorged on credit to fund stimulus projects of dubious value. Central planning never worked and social pressures are starting to boil over”. Deutsche Bank doesn’t think that China’s economy is going to collapse, but that it will weaken as its economy gradually restructures. - Aussie is already overpriced. - Such currencies as Australian, Canadian dollars and Japanese yen have outperformed those like sterling and Mexican peso during the Third Phase of Chinese growth. According to the bank, shorting the outperformers could be expensive, but buying the laggards or constructing relative value crosses seems quite sensible. Judging by the strength of past correlations and dislocation since 2008 Deutsche choose to be long at GBP/AUD. Comment here http://www.fbs.com/analytics/2012-03-05/16798-deutsche-bank-pound-may-strengthen-vs-aussie

"Watch US employment data on Friday "(2012-03-05) The US nonfarm payrolls report will be released on Friday, March 9. In January US payroll rose by 243,000 and showed a highest increase during a nine-month period. The expected payroll growth in February is 250,000; however, some specialists forecast even a more significant upturn. In case if employment increases less than by 200,000, Westpac Institutional Bank analysts recommend selling the dollar against the Japanese yen. However, it is more likely that the payrolls come in better than expected. In this case it will be beneficial to sell the dollar against the Canadian dollar because of the positive impact of the statistics on the Canadian economy. The specialists recommend going short on USD/CAD at 0.9880 stopping at 1.0060 and targeting 0.9400. Analysts at Deutsche Bank believe that the growth of the Consumer Confidence Index and the labor market expectations point at forthcoming changes in the economy. Chart. Daily USD/CAD Comment here http://www.fbs.com/analytics/2012-03-05/16796-watch-us-employment-data-friday

"Mizuho, Citigroup on USD/JPY "(2012-03-05) The greenback declined versus Japanese yen as the market players were taking profits after the pair USD/JPY reached 9-month maximum last week at 81.87 yen. At the same time, the pair’s decline was limited as Japanese importers were buying US currency on the dips. The most eyed event this week is the release of US February Non-Farm Payrolls on Friday. Analysts at Mizuho Corporate Bank claim that if the data is strong, US dollar may add about 1.5 yen to the levels around 83 yen. However, the specialists warned that the things may not go that smooth as the employment component of the ISM manufacturing survey declined last month (m/m). According to the bank, weak payrolls figures will bring dollar down to 80.00 yen. Strategists at Brown Brothers Harriman also advise traders to watch Greece’s debt swap deal as it may increase uncertainty and risk aversion encouraging yen this week. Bondholders have until March 8 to sign up to the agreement under which they will exchange their existing Greek government bonds for new paper in a swap deal that will see the nominal value of their holdings cut by 53.5%. Economists at Citigroup are positive on USD/JPY in the longer term. The specialists point out that the pair closed in February above 21-month MA for the first time since 2007 – very positive technical signal. However, in the short term there’s the high risk of dollar’s correction to 78.00/50 yen. The longer term target is bullish – 98 yen in the coming weeks. The main resistance for USD/JPY is situated at 100-week MA in the 82.10 yen area. Chart. Daily USD/JPY Comment here http://www.fbs.com/analytics/2012-03-05/16795-mizuho-citigroup-usdjpy

"CFTC trader positioning data "(2012-03-05) The latest Commitments of Traders (COT) report, released on Friday by the Commodity Futures Trading Commission (CFTC), showed that: • Euro shorts declined from the previous week’s total of 142.2K to 109.7K contracts. • British pound shorts decreased from 31.3K contracts on February 21 to 23.2K contracts on February 28. Sterling positions are now their best level since September 6 when positions accounted for 13.2K short contracts. • Japanese yen positions declined from 17.3K net long contracts on February 21 to 1.2K net long contracts on February 28. Yen speculative positions have reached minimum since May 31 when positions totaled 1.6K short contracts. Strategists at Scotia Capital note that yen longs have completely capitulated ever since the shift in stance coming from the Bank of Japan of a far more aggressive monetary policy. In their view, although the gross long position in yen shifted lower this week, the gross short has almost doubled in the last four weeks, highlighting the changing market view on the yen. • Swiss franc net shorts slightly decreased from 19.8K contracts on February 21 to 19.4K contracts on February 28. Short positions increased surpassing small increase of longs. It’s necessary to note that the figures cited above are always a week old at the time of their release. Never the less, CFTC data gives a good oversight into how the market is positioned and if/how these positions are being unwound. Although the CME speculators represent a small fraction of trading in the currency markets, their trades are widely seen as typical of hedge fund investors' currency movements. Comment here http://www.fbs.com/analytics/2012-03-05/16791-cftc-trader-positioning-data

"Morgan Stanley increased EUR/USD forecast "(2012-03-02) Analysts at Morgan Stanley raised forecast for the pair EUR/USD buy the end of March from $1.27 to $1.34. In their view, the short-term outlook for the single currency has improved as the ECB’s LTROs help to ease the tensions about the European sovereign debt and banking sector. At the same time, the specialists are still bearish on euro in the longer-term perspective. The bank reiterated that the pair will likely slide by the end of the year, though the projection was lifted a bit higher, from $1.15 to $1.19. Chart. Weekly EUR/USD Comment here http://www.fbs.com/analytics/2012-03-02/16789-morgan-stanley-increased-eurusd-forecast

Secrets of Forex trading success shared by 999 winners!!! Dear traders! On the 24th of February 999 Contest was completed. And the winners are: • A trader from Moldova Vladislav Dobrovolsky (555 USD) • A trader from Colombia Johan gember Riascos valencia (333 USD) • A trader from Indonesia I made darma Udayana (111 USD) Vladislav Dobrovolsky who won the first prize, set an all-time record in the history of 999 Contest. The winner increased his balance up to 6033009.86 USD. Balance of Johan gember Riascos valencia’s contest account was 2105276.69 USD. I made darma Udayana earned 486284.92 USD in the contest. We asked the winners to share their impressions of 999 Contest, profitable trading strategies and their secrets of Forex trading success. Secrets of Forex trading success shared by 999 winners >>1st Place : Vladislav Dobrovolsky<< Q: How long are you engaged in trading? How has it turned out that you have got acquainted with exchange trading? A: I’ve been trading for 3 years. But I got acquainted with exchange trading earlier, 6 months before that. I found in the Internet some advertising about new way to make extra money. I started to explore it, but didn’t trade, even on demo-account. In 6 months my friend told me about some company that provided its customers with stock market trading services. That is how I started trading. But then exchange trading in Forex has become more attractive to me. Q:What currency pair do you prefer to trade? Why? A:I prefer trading the following currency pairs: EURUSD, GPBUSD, AUDUSD, NZDUSD. More rarely I use EURJPY, GPBJPY, EURCHF, GPBCHF. Sometimes I trade USDCAD, EURGPB, USDCHF, USDJPY. These are the most popular currency pairs that I got used to. I don’t like exotic pairs. Q:Please tell us about your impressions of participation in «999» contest. A:I like the contest. That was not my first time to participate, and I was waiting for a long time for good results. And finally I managed to win! In addition, contest was very hard for me, because of the lack of possibility to open one order with more than 10 lots volume. The fact makes the contest more exciting and competitive. Q:What trading strategy did you use during the contest «999»? A:I stuck to the strategy of opening orders using all available balance, as it was possible with the leverage. Especially it had been important on the first level of the contest before I had my big profit. Then I reduced the risks gradually, and I didn’t use all the balance to open orders. Yes, it is a risky strategy, but it’s hard to win in a different way. Be sure, I do not take such a risk on live account. Also I made my decision based on technical analysis and fundamental market data. Q:What qualities should a trader possess to be successful in trading? A:I am confident that 70% of Forex success doesn’t depend on a trader’s knowledge or forecast skills (which are also important), but it depends on psychological condition of a trader: if he is able to control his emotion, be patient and rational in any situation possible. Don’t panic. Don’t be greedy. 20% of success depends on a trading strategy which one should follow strictly. And only 10% of success, in my opinion, depends on a trader’s knowledge and forecast skills. Q:What advice could you give to beginners? A:As I have already mentioned in my previous answer, one should not be emotional in trading. There is no need to be upset if something goes wrong. I think it is normal when fails happen. You must have the big goal to strive for. Your dreams and goals must be huge, on the verge of possibility. Your dream will be huge and none of the difficulties will be able to overshadow it. It will be always visible. So, you will manage to pass the obstacle and move on. >>2nd Place: Johan gember Riascos valencia<< Q:How long are you engaged in trading? How has it turned out that you have got acquainted with exchange trading? A:I’ve started trading not long ago. But I can spend only half of my time, because I also work as an environmental engineer. Q:What currency pair do you prefer to trade? Why? A:I prefer to trade the major currency pairs, because these currency pairs are traded by a great number of people. They have a higher volume of transactions and a good movement. Q:Please tell us about your impressions of participation in «999» contest. A:999 is a great contest. I was impressed by the large number of participants who was struggling to win and get prizes. There was excellent execution of orders. I had no problems in opening and closing my positions. Q:What trading strategy did you use during the contest «999»? A:I like to use simple strategies. I used moving averages cross, MACD, trend lines, support and resistance. I watched the price of opening and closing the day before. Q:What qualities should a trader possess to be successful in trading? A:A trader to be successful should be very patient. He or she should have a plan to follow. And very important is money management. Be patient. Patience is one of the most valuable qualities. Think before opening an order, everything should be according to your strategy. Never stop learning. Every day you should learn something new. But call into question everything you know. Q:What advice could you give to beginners? A:I would recommend the following to the beginners in Forex: • have a good trading strategy • learn to control emotions • do not risk • Always use a stop loss in their operations. • Always be aware of the global economic news. >>3rd Place: I made darma Udayana<< Q:How long are you engaged in trading? How has it turned out that you have got acquainted with exchange trading? A:Actually I am just a beginner in Forex. I was engaged in trading 6 month ago. My friend told me about exchange trading. He is not trader, but he is an investor working at some exchange trading company. Q:What currency pair do you prefer to trade? Why? A:I like EURUSD. Because it has the lowest spread. Q:Please tell us about your impressions of participation in «999» contest. A:Wow, actually it is my first time to take part in such a contest. It is enjoyable. Q:What trading strategy did you use during the contest «999»? A:It calls “3 box strategy”. I open order when the price above/below 3 box from MA100. Q:What qualities should a trader possess to be successful in trading? A:You must have patience, accuracy and discipline. Q:What advice could you give to beginners? A:They should know that professional traders always think about risks, amateur traders only think about profit. Dear traders, note please that registration for 999 Contest is open again. Don’t miss your chance to win! 999 Contest details: http://www.fbs.com/999-demo-contest Registration: https://my.fbs.com/contests/999 FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

"RBC: technical levels for USD/JPY"(2012-03-02) Analysts at RBC Capital Markets claim that if the greenback manages to close today above 81.47 yen, its chances for sustained growth will significantly increase. The specialists think that resistance for USD/JPY lies at 82.21 and 83.09 yen. On the downside, if US currency closes the day below 80.02, its rate will decline to support at 79.31 and 78.23 yen. Chart. Daily USD/JPY Comment here http://www.fbs.com/analytics/2012-03-02/16787-rbc-technical-levels-usdjpy

"Citi: comments on EUR/USD "(2012-03-02) Analysts at Citi believe that traders will sell the single currency on any rallies versus the greenback unless we see a sustained improvement in euro zone’s fundamentals. The specialists say that EUR/USD may face resistance at $1.3500 marking the level where selloffs are likely to start. In their view, the ECB’s LTRO made euro often used as a funding currency. At the same time, Citi points out that on the downside, EUR’s decline will be contained as oil exporters convert their dollar revenues into euro and the fact that investors are extremely short on euro. As a result, some short-term short-covering advances may happen. So, Citi expects the pair to trade sideways for some time. График. Daily EUR/USD Comment here http://www.fbs.com/analytics/2012-03-02/16785-citi-comments-eurusd

"Yen will keep declining due to BOJ’s loose policy "(2012-03-02) The greenback rose versus Japanese yen approaching February 27 maximum at 81.67 yen. Yen weakened versus the majority of its counterparts as, according to the data released today, the nation’s CPI fell by 0.1% in January (y/y) declining for the fourth month in a row. According to Bloomberg Correlation-Weighted Indexes, yen lost 6.9% during the past 3 months versus other developed-market currencies. Last month the Bank of Japan set inflation target at 1%, so the market expects that it will keep easing monetary policy in order to meet this goal. The central bank will meet on March 12. Analysts at Morgan Stanley increased forecast for USD/JPY for the first quarter from 75 to 80 yen citing “more aggressive dovish” approach of the BOJ. Strategists at UBS don’t agree with the widespread idea that yen may strengthen towards the Japanese fiscal year-end at March 31. The specialists think that Japanese investors won’t need to repatriate their profits as domestic financial sector looks quite healthy. In addition, Japanese investment flows were net buyers of foreign assets in the first quarter since 2007, and that trend seems unchanged. According to UBS, USD/JPY will rise to 85 7yen in 3 months. Among the reasons why to be negative on yen the bank names high likelihood of further monetary easing in Japan, the widening of the gap between the US and Japanese benchmark bonds and the increasing oil prices. Chart. Daily USD/JPY Comment here http://www.fbs.com/analytics/2012-03-02/16781-yen-will-keep-declining-due-bojs-loose-policy

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"BofA revised forecasts for euro, pound "(2012-03-01) Analysts at Bank of America claim that although the single currency declined yesterday versus the greenback after the LTRO results and Bernanke’s testimony, EUR/USD prospects have so far improved. The specialists expect the market’s risk sentiment to stay elevated as the situation at the European peripheral debt markets as well as the general state of global economy improved. The bank increased EUR/USD forecast from $1.25 to $1.30 by the end of the second quarter and from $1.30 to $1.33 by the year-end. In addition, the projections for EUR/JPY were revised up from 91 to 105 yen by June 30 and from 99 to 109 yen by the end of December. Bank of America thinks that Canadian, Australian and New Zealand’s dollars have good chances for appreciation. As for British pound, the analysts are pessimistic and lowered forecast for GBP/USD for the end of 2012 from $1.53 to $1.51. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/2012-03-01/16776-bofa-revised-forecasts-euro-pound

"Rabobank: comments on EUR, AUD, CAD "(2012-03-01) Analysts at Rabobank believe that the single currency will fall to $1.25 versus the greenback by the middle of May and then return to growth targeting $1.40 in the longer-term as the specialists believe that US dollar will be weakened by the Fed’s policies and economic growth slowdown. The bank is bullish on the Australian dollar and the Canadian dollar. In their view, these commodity and growth-linked currencies are helped by the success of the LTRO which improved investors’ sentiment. The analysts aren’t sure that Aussie and loonie will be able to maintain the gains for the duration of the year, but for now they seem to be supported well enough. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/2012-03-01/16775-rabobank-comments-eur-aud-cad