internationallove Posted June 7, 2012 Author Share Posted June 7, 2012 "EUR: how long will the strength last? "(2012-06-07) EUR: how long will the strength last? The EUR/USD cross bounced from its two-year low (June 1) and broke through the strong $1.25 resistance level. The pair is pushed up by the prospects of the additional QE in the US, the words of the ECB President Mario Draghi that the market underestimated the political decision of the EU to preserve the currency block and the results of the Spanish and French bond auctions. Strategists at BMO forecast the EUR/USD to reach $1.2625 (Jan. low), while analysts at Nomura expect the pair to bounce to $1.2700. The nearest resistance for the pair lies at $1.2600 (psychological level) and $1.2690 (38.2% retracement of May 1-June 1 drop). However, in long-term most analysts remain bearish on the prospects of the common currency. The euro is expected to decline against the greenback as the EU leaders struggle to resolve the crisis. Moreover, economists expect that Germany will finally agree on the Eurobonds issue in order to support the peripheral countries. In case European politicians fail to compromise, the market situation will definitely worsen: massive outflow of capital out of the region is expected. Draghi said the ECB will continue to supply euro zone banks with the liquidity they ask for in the refinancing operations at least until early 2013. Chart. Daily EUR/USD Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-07/17925-eur-how-long-will-strength-last Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 7, 2012 Author Share Posted June 7, 2012 "SocGen, RBS: comments on EUR/GBP "(2012-06-07) SocGen, RBS: comments on EUR/GBP Analysts at Societe Generale note that the single currency has made something like a U-turn 2 weeks ago as it rose from 0.7950 (May 16 minimum) to the levels in the 0.8100 area this week. The specialists point out, however, that EUR/GBP is facing resistance at 0.8130 (50-day MA). If the Bank of England doesn’t deliver monetary stimulus today, euro may get under renewed selling pressure. In addition, the bank underlines that the pair isn’t oversold now, while there will likely be more negative news from the euro area. As a result, SocGen regards bearish risks as quite high. Strategists at RBS claim that EUR/GBP may get stuck in the 0.7950/0.8221 area. In their view, resistance for the pair lies at 0.8142 (May 3, June 5 maximums), 0.8192/97 (May 1 maximum) and 0.8222 (April 25 maximum), while support is found at 0.8063 (gap opening), 0.7950 (2012 minimum) and 0.7695 (2010 minimum). Chart. Daily EUR/GBP Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-07/17927-socgen-rbs-comments-eurgbp Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 7, 2012 Author Share Posted June 7, 2012 "SNB increased currency reserves"(2012-06-07) SNB increased currency reserves According to the Swiss National Bank statement, the SNB’s foreign currency reserves reached a record high in May (303.8 billion Swiss francs from previous 237.6 billion francs). The regulator attempts to defense the franc floor under the conditions of the uncertainty in the euro zone. It is necessary to note, that the 1.20 threshold protects the franc from excessive strength as a safe haven currency and supports the Swiss economy. Analysts at Bank Sarasin underline that the SNB will be forced to intervene if the euro zone’s situation worsens. However, according to analysts at ING Group, for the moment there is no reason to believe that the floor could be broken even under higher pressure. Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-07/17929-snb-increased-currency-reserves Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 7, 2012 Author Share Posted June 7, 2012 "BoE left policy unchanged… for now "(2012-06-07) BoE left policy unchanged… for now The Bank of England decided to leave its monetary policy unchanged: the benchmark rate remained at 0.5%, while the size of the asset purchase program was left at 325 billion pounds. UK central bank was under serious pressure to do more stimulus as British economy has entered official recession and is affected by the European debt crisis. The nation’s GDP contracted by 0.3% in the first 3 months of the year. In addition, manufacturing activity plunged in May in the sharpest fall since November 2008. So, the market had reasons to expect more easing from the BoE. At the same time, the story isn’t clearly over yet: there are a lot of events ahead which concern Europe, Britain’s main trading partner. The matter is about Greek elections and the decisions which the region’s authorities will have to make afterwards. So, as with the European Central Bank the focus turns to the next BoE meeting in July and analysts at ING Bank expect further stimulus. British pound showed the second day of solid gains versus the greenback and retraced more than 50% of last week’s slump. GBP/USD rose from Friday’s minimum at $1.5233 to the levels in the $1.5670 area, above the previous weekly maximum of $1.5515. Chart. Daily GBP/USD Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-07/17935-boe-left-policy-unchanged-now Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 8, 2012 Author Share Posted June 8, 2012 June 8: economic background Friday, June 8, 2012 - 07:24 The day has begun with a risk-off trade as potential gains on the unexpected Chinese interest rate cut quickly evaporated after the Fed’s Chairman Ben Bernanke didn’t signal further monetary stimulus yesterday. On Thursday China cut its interest rates for the first time since 2008, attempting to defend the export-oriented economy from the euro zone’s turmoil. The move may mean that the economy is weaker than expected. Tomorrow watch for inflation report, investment and output figures –traders are now worried that the figures may be quite disappointing. Asian stocks declined (MSCI Asia Pacific Index +1.3%), commodity currencies weakened. Japanese yen strengthened versus all of its main counterparts The Dollar Index rebounded from almost 1-week minimum. Yesterday Japan’s Q1 GDP was revised up to +1.2% (q/q). USD/JPY declined today, though the pair retains weekly gain as the Bank of Japan’s expected to announce more easing next Friday (June 15). Analysts at Westpac think that the BOJ will be the first among the 2 central banks (the BOJ, the Fed) to ease policy, so this may provide support for the greenback. Commodity prices and Chinese slowdown still have an impact on the Australia’s trade, but improvement could be on the way: Australia’s trade deficit declined from 1.28B Australian dollars in March to 0.20B in April. According to RBA Governor Glenn Stevens, the economic situation in the country is much better than in other economies. Stevens didn’t give any hints on the future monetary policy easing. Moreover, he underlined that the previous easing was not supposed to create speculative demand for Australian assets. AUD/USD is down in the $0.9850 zone after testing the parity yesterday. The single currency eased down from $1.2625 (January minimum, June 7 maximum) to test the levels below $1.2500. German trade surplus exceeded the forecast of 13.3B euro posting 16.1B euro in April, up from 13.7B in March. The positive figures provided some support for EUR/USD, but not much as the debt woes are still hovering over the region. There’s a bunch of important Canadian data (housing, employment and trade) as well as US trade balance released later today. Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-08/17937-june-8-economic-background Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 8, 2012 Author Share Posted June 8, 2012 "UniCredit: 2012 currency outlook "(2012-06-08) UniCredit: 2012 currency outlook UniCredit doesn't expect the single currency to show significant rebound versus the greenback anytime soon. In their view, EUR/USD has settled in the $1.2500/$1.2000 trading area and the potential recovery will remain limited and offer new selling opportunities. The specialists think that the concerns about the Bank of Japan’s intervention will prevent more USD/JPY sales. The greenback’s strength will drive GBP/USD down to $1.5200/5000. As for the Swiss franc and commodity currencies (AUD, NZD, CAD), trading’s expected to remain quite volatile. Here are the bank’s forecasts (submitted on June 1): Data from UniCredit Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-08/17939-unicredit-2012-currency-outlook Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 8, 2012 Author Share Posted June 8, 2012 "SocGen: sell AUD/USD on China "(2012-06-08) SocGen: sell AUD/USD on China Analysts at Societe Generale recommend selling Australian dollar versus its US counterpart at $0.9975 stopping at $1.0175 and targeting $0.9500. The specialist claim that the fact that China has cut interest rates means that the nation’s authorities are concerned about growth: “a simple interest rate cut would have been good news, but China also adjusted deposit rates and lending rates implying that we won't see a big investment stimulus like we did in 2008.” The People's Bank of China (PBoC) cut official 1-year borrowing rate by 25 bps to 6.31% and 1-year deposit rate by a similar amount to 3.25%. The cut marked Beijing's biggest move to date to support growth. The PBOC announced it was giving banks the freedom from June 8 to set deposit rates as high as 110% of the benchmark rate and offer rates on new loans for as little as 80% of official policy rates, an additional 10% points of leeway from the current 90% limit. Until now commercial banks have been barred from charging rates on deposits higher than the benchmark set by the central bank. Chart. Daily AUD/USD Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-08/17941-socgen-sell-audusd-china Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 8, 2012 Author Share Posted June 8, 2012 "Key options expiring today"(2012-06-08) Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (2 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.2400, $1.2430, $1.2500, $1.2550, $1.2600, $1.2650; GBP/USD: $1.5500; EUR/GBP: 0.8055; USD/JPY: 79.00; AUD/CAD: 1.0250; AUD/USD: $0.9975. Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-08/17942-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 8, 2012 Author Share Posted June 8, 2012 "Lloyds, RBS: GBP/USD is range bound "(2012-06-08) Lloyds, RBS: GBP/USD is range bound British pound fell from 1-week maximum versus the greenback at $1.5600 to the levels in the $1.5440/00 area as the markets are in the risk-off mode today. Risk sentiment worsened as the Federal Reserve and even the Bank of England gave no indication of further monetary stimulus this week. UK PPI Input fell in May by 2.5% (m/m) after a 1.4% drop in April and below market consensus of a 1.3% decline. For now pound get hurt. At the same time, note that sharper-than-expected drop in input prices could give the BOE more leeway to ease policy in coming months. Many analysts expect GBP/USD to stay range bound in the near-term: Lloyds and RBS speak about the levels between $1.5250 and $1.5600. RBS recommends buying and selling sterling on the extreme of this range reassessing any fresh opportunities next week. Within the range mentioned above the specialists distinguish levels: $1.5299 (number of minimums since the end of 2010), $1.5504 (38.2% retracement of the advance from January to February) and $1.5514 (23.6% retracement of the May-June range). Chart. Daily GBP/USD Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-08/17947-lloyds-rbs-gbpusd-range-bound Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 8, 2012 Author Share Posted June 8, 2012 "EUR/USD: bears never left "(2012-06-08) EUR/USD: bears never left The EUR/USD cross resumed the bearish movement: euro failed to overcome the $1.2626 resistance (January minimum). Many analysts believe that yesterday the cross reached its peak before the Greek elections (June 17, Sunday). This week Greek question was a wallflower and the focus moved to Spain, but, obviously, the closer the vote is, the higher is the pressure. However, there are several timid beams of light in Europe: German Chancellor Angela Merkel seems to be ready to act to ensure stability in the euro region, while Spain managed to raise 2 billion euro on a bond auction. Analysts at Commerzbank believe the EUR/USD cross could continue the upward movement after the current pullback. In their view, the next targets for the pair are $1.2786 and $1.2825. However, the downside is still more likely: support lies at $1.2058 (200-month MA) and $1.2000 (psychological support). Also note that market players will trade on a strong correlation of EUR/JPY and AUD/JPY with stock markets (uncertainty weighs on stock markets – yen strengthens). Chart. Daily EUR/USD Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-08/17944-eurusd-bears-never-left Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 12, 2012 Author Share Posted June 12, 2012 June 12: economy and currencies (2012-06-12) June 12: economy and currencies EUR/USD began today’s trading day edging higher. However, the pair’s staying below the strong psychological resistance of $1.2500. On Monday the common currency has sharply declined when the initial optimism caused by the Spain’s bailout request began dissolving as investors realized that the region’s crisis is far from over. Italy’s 10-year bond yields reached 6.03% on yesterday’s auction, while Spain’s borrowing costs have already overcome the 6.50% threshold. Riskier currencies such as Australian and New Zealand’s dollar recovered from yesterday minimums, but the trade promised to be quite choppy this week, so be careful. The Japanese yen declines against its major peers after the International Monetary fund said that the currency is overvalued and the Bank of Japan should ease the monetary policy further. In other words, the IMF justifies the potential BoJ intervention at forex market. The next BoJ policy meeting is scheduled on Friday, June 15. Note that Japanese tertiary industry activity went down by 0.3% in April (consensus-forecast was +0.4%). USD/JPY consolidated above Kijun-sen at the daily Ichimoku chart in the 79.10/80 area. Events to watch today: Euro zone: Greek T-bill auction. Great Britain: A bunch of important figures is to be released: manufacturing and industrial production data and NIESR GDP estimate. According to economists, manufacturing production increased by 0.1% in April compared with a 0.9% growth in March. U.S.: Federal budget balance is expected to show $107.2 billion deficit in May after $59.1 billion surplus in April. Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-12/17966-june-12-economy-and-currencies Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 12, 2012 Author Share Posted June 12, 2012 "Key options expiring today"(2012-06-12) Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (2 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.2450, $1.2540, $1.2625; USD/JPY: 78.00, 79.00, 79.05, 79.25, 79.30, 80.00; EUR/JPY: 99.80; AUD/USD: $0.9700, $0.9770, $0.9950, $1.0000; EUR/GBP 0.8050. Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-12/17965-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 12, 2012 Author Share Posted June 12, 2012 "Commerzbank: euro’s recovery may be over "(2012-06-12) Commerzbank: euro’s recovery may be over Technical analysts at Commerzbank claim that euro’s correction versus the greenback may be over as EUR/USD didn’t manage to overcome resistance at $1.2672 (38.2% Fibonacci retracement of May decline). In addition, the specialists spotted divergence on the H4 RSI chart. As a result, the bank recommends selling the single currency. As the same time, the analysts don’t completely rule out the possibility of euro’s advance to $1.2786 (50% retracement) and even $1.2825 (May 21 maximum) if EUR/USD overcomes resistance and rises above June maximums. On the downside, below $1.2435 (June 8 minimum) euro will be vulnerable for a decline to $1.2288 (2012 minimum) and then to $1.2058 and $1.2000. Chart. H4 EUR/USD Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-12/17969-commerzbank-euros-recovery-may-be-over Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 13, 2012 Author Share Posted June 13, 2012 Wednesday, June 13: economy and currencies (2012-06-13) Wednesday, June 13: economy and currencies Risk sentiment is affected by lack of details in a loan agreement to help Spain recapitalize its banking sector and concerns that the bailout will aggravate the country’s huge public debts. Italian yields went up to 6.3% yesterday, the highest level since end of January. Spanish borrowing costs rose to 15-year maximum of 6.83%. EUR/USD is trading below 23.6% Fibonacci retracement of its decline in May. Demand for safe havens strengthened after Fitch Ratings predicted Spain will miss budget-deficit targets. Moreover, the agency downgraded 18 Spanish banks yesterday. US dollar strengthened versus its major peers. USD/JPY remains seated in the 79.10/80 area, above Kijun-sen at the daily Ichimoku chart. Aussie should have gained on comments of the RBA Governor Glenn Stevens who said that the strength of the nation’s currency benefits consumers and though “a number of sectors are really struggling with the exchange rate where it is, we shouldn’t wish too quickly for a low exchange rate.” However, AUD followed euro stalling its progress against the greenback, unable to overcome the parity level. Events to watch today: Euro zone: Industrial production in the region is forecasted to drop by 0.9% in April after a 0.3% decline in March. Germany holds a 10-year bond auction. Italy holds a T-bill auction. U.S.: Retail sales are expected to decrease by 0.1% while core retail sales (excluding automobiles) – to increase by the same percent. Producer price index may go down by 0.6% in May. The April disappointing results, when a 0.2% decline was recorded, reinforce the worries about the further monetary policy easing. Business inventories may increase by 0.4% April. Later in the day a 10-year bond auction will be held. Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-13/17...-and-currencies" target="_blank">http://www.fbs.com/analytics/2012-06-13/17...-and-currencies</a> Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 13, 2012 Author Share Posted June 13, 2012 "EUR/USD: negative pressure’s again here "(2012-06-13) EUR/USD: negative pressure’s again here Technical analysts at Commerzbank claim that euro’s correction versus the greenback may be over as EUR/USD didn’t manage to overcome resistance at $1.2672 (38.2% Fibonacci retracement of May decline). In addition, the specialists spotted divergence on the H4 RSI chart. As a result, the bank recommends selling the single currency. As the same time, the analysts don’t completely rule out the possibility of euro’s advance to $1.2786 (50% retracement) and even $1.2825 (May 21 maximum) if EUR/USD overcomes resistance and rises above June maximums. On the downside, below $1.2435 (June 8 minimum) euro will be vulnerable for a decline to $1.2288 (2012 minimum) and then to $1.2058 and $1.2000. Chart. Daily EUR/USD Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-13/17972-eurusd-negative-pressures-again-here Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 13, 2012 Author Share Posted June 13, 2012 "Key options expiring today"(2012-06-13) Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (2 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.2400, $1.2440, $1.2445, $1.2455, $1.2465, $1.2500, $1.2550, $1.2570, $1.2650. USD/JPY: 79.55; USD/CHF: 0.9850; AUD/USD: $0.9800, $0.9870, $0.9950; EUR/GBP: 0.8030, 0.8050; GBP/USD: $1.5500, $1.5600, $1.5685. Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-13/17974-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 13, 2012 Author Share Posted June 13, 2012 "RBNZ is unlikely to cut rates"(2012-06-13) RBNZ is unlikely to cut rates The Reserve Bank of New Zealand is likely to leave the official cash rate at 2.5% when it meets on Thursday, June 14. Despite the increased uncertainty in the euro zone and the slowdown of the global economic rebound, further rate cuts, according to the RBNZ Governor Alan Bollard, could cause a new credit boom. The rate cut expectations declined sharply in recent weeks: after about 80% of probability a few weeks ago, these days only 20% of economists believe in the chance of a cut. Specialists at JPMorgan expect a rate cut to happen in the next few months, because the CB needs more information on the global economy prospects to take the right decision. Photo: FX service Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-13/17977-rbnz-unlikely-cut-rates Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 13, 2012 Author Share Posted June 13, 2012 "Westpac: trading AUD/NZD"(2012-06-13) Westpac: trading AUD/NZD Analysts at Westpac claim that one should wait until the pair AUD/NZD rises on the RBNZ rate-cut talk, and then sell the Australian dollar versus its New Zealand’s counterpart around 1.2870, targeting 1.2600 and stopping at 1.2960. The Reserve Bank of New Zealand will be meeting Wednesday night. Westpac believes that the central bank won’t lower the borrowing costs, so trade on the market’s expectations seems like a good opportunity. According to Westpac, the RBA will cut rates a couple more times, but the RBNZ will remain on hold for the rest of 2012. Chart. Daily AUD/NZD Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-13/17978-westpac-trading-audnzd Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 13, 2012 Author Share Posted June 13, 2012 "Sumitomo: EUR/JPY may slide to record low "(2012-06-13) Sumitomo: EUR/JPY may slide to record low Analysts at Sumitomo Mitsui claim that euro versus has completed a “head-and-shoulders” pattern Japanese yen at the end of May. According to the specialists, the first shoulder was formed on January 26 (102.20 yen), the head – on March 21 (111.43 yen) and the second shoulder – on May 22. The bank says EUR/JPY may drop to the new record minimum of 88.51 yen – this target is calculating by subtracting the distance between the neckline and the head from the neckline. If we look at the daily Ichimoku Chart, we’ll see that the pair’s testing Kijun-sen (blue line) as well as the psychological resistance at 100 yen. Downward pressure on euro will strengthen if it fails at this point and slides below support of Tenkan-sen (red line) in the 98.30 zone. Chart. Daily EUR/JPY Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-13/17980-sumitomo-eurjpy-may-slide-record-low Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 13, 2012 Author Share Posted June 13, 2012 "Commerzbank: comments on USD/CAD "(2012-06-13) Commerzbank: comments on USD/CAD Technical analysts at Commerzbank note that the greenback has eased down from June maximum in the 1.0450 area versus its Canadian counterpart consolidating above 1.0200. The specialists claim that if USD/CAD breached the support mentioned above, it will slide to 1.0124 (50% retracement of the May advance) and then to at 1.0105 (200-day MA). However, the bank’s baseline scenario is positive for US currency: US dollar may recoil up from 1.0200 and travel upwards during the next few weeks. The targets on the upside above 1.0450 are 1.0523 (November maximum) and 1.0583 (200-week MA). . Chart. Daily USD/CAD Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-13/17982-commerzbank-comments-usdcad Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 15, 2012 Author Share Posted June 15, 2012 Friday, June 15: economy and currencies (2012-06-15) Friday, June 15: economy and currencies Euro zone: The ECB President Mario Draghi speaks. Canada: Manufacturing sales, a leading indicator of economic health, are expected to go up by 2.2% in April after a 1.9% growth in March. Great Britain: Britain’s trade deficit is expected to decline slightly to 8.5B. U.S.: Empire State Manufacturing Index in June is to decline to 14.1 from the previous 17.1 print, while the industrial production in May is likely to increase by 0.1% vs. a 1.1% growth in April. Capacity utilization rate, a leading indicator of consumer inflation, is expected to remain at 79.2%. Economists forecast the preliminary UoM consumer sentiment index to decline to 77.5 in June. In May the key indicator of the consumer spending reached its highest level in four years (79.3), what is a good sign for the U.S. economy. Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-15/17990-friday-june-15-economy-and-currencies Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 15, 2012 Author Share Posted June 15, 2012 "Сapital flows out of the euro area"(2012-06-15) Сapital flows out of the euro area According to analysts at Nomura Securities, in recent months there is an evident capital flight from the euro zone. If the trend continues, the single currency will trade much lower as it was a traditional emerging market currency crisis. Specialists believe that on this matter the Europe’s debt crisis may be divided on three phases. In their view, during the first phase (April 2010-June 2011) investors sold assets from peripheral countries and tied up capital in the safe countries. In the second phase (July 2011-January 2012) the investors concerns on Spain and Italy started to grow. However, according to analysts, big amounts of money were still repatriated back to the euro zone. These days the economy is in the third phase, when huge amounts of money are draining abroad. Meanwhile, Switzerland and Denmark are making efforts to retain control on their strong national currencies. Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-15/17992-sapital-flows-out-euro-area Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 15, 2012 Author Share Posted June 15, 2012 "AUD/USD: prospects for growth"(2012-06-15) AUD/USD: prospects for growth The AUD/USD cross managed to fix above the parity level on Thursday and continues extending its gains on Friday. Specialists seem to be rather optimistic. Analysts at Westpac believe the pair will surge in case of a clear win of the pro-bailout New Democracy and Pasok parties on Greek elections on Sunday. According to strategists at RBS, the pair has good prospects for growth if it breaks the tough resistance, created by the Fibonacci levels and the 10- and 21-day MAs. Specialists at Commerzbank expect the cross to strengthen to $1.0146 in a short-term. Support: 0.9397 (October 2011 minimum); 0.9667 (Nov. 2011 minimum); 0.9881 (Dec. 19 minimum). Resistance: 1.0077 (38.2% Fibonacci retracement from the Oct. 2011 – Nov. 2012 range); 1.0146 (Jan. 2012 minimum) 1.0207 (50% Fibonacci retracement from the Oct. 2011 – Nov. 2012 range). Chart. Daily AUD/USD Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-15/17994-audusd-prospects-growth Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 15, 2012 Author Share Posted June 15, 2012 "Draghi: ECB ready to rescue banks"(2012-06-15) Draghi: ECB ready to rescue banks The European Central Bank President Mario Draghi said on Friday that the regulator is ready to take all the necessary measures to support the euro zone’s economy in conditions of increased uncertainty. Draghi told that the ECB will continue providing liquidity to solvent banks. The EU monetary authorities, therefore, leave the door open for the further policy easing. Last week the ECB left its key interest rate at 1.0%, but a few members of the governing council voted for a rate cut. The ECB President also underlined that these days the EU officials are working out proposals on how to resolve the situation with minimal damage and will present the results on the EU summit on June 28-29. Mario Draghi’s comments are especially important ahead of the Greek parliamentary elections, upcoming on Sunday. The vote is likely to determine the future of Greece in or out of the EU and of the single currency itself. Moreover, on Sunday the second round of the French parliamentary elections takes place. Photo: The Telegraph Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-15/17997-draghi-ecb-ready-rescue-banks Quote Link to comment Share on other sites More sharing options...
internationallove Posted June 15, 2012 Author Share Posted June 15, 2012 "Draghi: ECB ready to rescue banks"(2012-06-15) Draghi: ECB ready to rescue banks The European Central Bank President Mario Draghi said on Friday that the regulator is ready to take all the necessary measures to support the euro zone’s economy in conditions of increased uncertainty. Draghi told that the ECB will continue providing liquidity to solvent banks. The EU monetary authorities, therefore, leave the door open for the further policy easing. Last week the ECB left its key interest rate at 1.0%, but a few members of the governing council voted for a rate cut. The ECB President also underlined that these days the EU officials are working out proposals on how to resolve the situation with minimal damage and will present the results on the EU summit on June 28-29. Mario Draghi’s comments are especially important ahead of the Greek parliamentary elections, upcoming on Sunday. The vote is likely to determine the future of Greece in or out of the EU and of the single currency itself. Moreover, on Sunday the second round of the French parliamentary elections takes place. Photo: The Telegraph Have a profitable trading day with FBS! If you have any questions to our analysts, you’re welcome to ask them in comments to this article! Comment here http://www.fbs.com/analytics/2012-06-15/17997-draghi-ecb-ready-rescue-banks Quote Link to comment Share on other sites More sharing options...
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