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Market Analysis
05/20/2013 - 09:30
Here are the forecasts for EUR/USD, GBP/USD, USD/JPY, USD/CHF and EUR/JPY from top forecasters. Data were submitted on May 17.
Source: FX Week
More Forex news & analytics at FX Bazooka
05/20/2013 - 05:56
After closing above 103.00 on Friday USD/JPY opened with a gap down to 102.00, but then returned to 102.90/60 area. Yen rose after Japan’s Economy Minister Akira Amari said further losses in the currency would negatively affect people and the government’s job is to minimize that.
AUD/USD is trading around $0.9785 after testing $0.9711 on Friday. NZD/USD is at $0.8120 after hitting $.8060 at the end of last week. Kiwi has managed to take off from the lows after its finance minister said home...
05/17/2013 - 09:36
According to UBS strategists, USD/CHF is doomed to reach the parity level over the coming weeks. The reasons are as follows:
First, demand for safe haven assets is waning as central banks keep loosening monetary policy to revive economic growth;
Last year’s ECB commitment to buy government bonds through Outright Monetary Transactions has cut the risk of the region’s bankruptcy;
SNB remains committed to capping the franc at 1.20 against the euro and warns it is ready to take further...
05/17/2013 - 09:05
Here are the essentials of the latest Commitments of Traders (COT) report, released on Friday, May 17, by the Commodity Futures Trading Commission (CFTC) for a week ended May 14.
Large speculators increased their USD net long positions from $26.8 bln to $32.3 bln. Meanwhile, AUD net positions became short for the first time since June 2012.
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...
05/17/2013 - 06:01
US dollar was near a 10-month high versus a basket of currencies after John Williams, San Francisco FRB president said the central bank may begin to taper its asset buying this summer.
USD/JPY keeps consolidating around 102.30. Japan’s core machinery orders added 14.2% (forecast: 3.1%). AUD/USD fell to new 11-month low at 0.9736. NZD/USD slid to $0.8087. AUD and NZD were sold heavily from multiple sources today.
EUR/USD is trading in the negative territory around $1.2865. Market sentiment...
05/16/2013 - 11:08
EUR/USD is moving sideways between $1.2890/45. Euro’s trying to hold above the trend line from July 2012 lows. Support lies at $1.2840 (the 78.6% retracement of the move from April), $1.2800 and $1.2750. Resistance is at $1.2888, $1.2940 and $1.3000.
Euro zone’s CPI came in line with the expectations (1.2% y/y). The region’s trade surplus increased from 10.1B euro in Feb. to 22.9B in March (forecast: 13.0B).
Analysts at Commerzbank say that EUR/USD will be directly offered as long as it stays...
05/16/2013 - 09:15
Let’s have a brief look at USD/JPY. Rally slowed following the yesterday’s strong Japanese preliminary GDP and the downbeat US data. The pair is now trading a bit below the yesterday’s high at 102.75, but bulls keep strengthening.
Most economists expect USD/JPY growth to continue in the near term. Analysts at BTMU say the pair is taking a breather after its recent sharp rise. According to analysts at Mizuho Securities, the current profit-taking in USD/JPY is also caused by the slide in the...
05/16/2013 - 06:54
EUR/USD is trading in the negative territory below $1.2900 before a CPI release may show inflation in the euro zone was the slowest in three years, what would confirm the expectations of the ECB rate cut. Yesterday the single currency renewed a 6-week low as euro zone’s GDP release confirmed the economy stays in recession for sixth quarters.
USD/JPY is consolidating above 102.00. Yen strengthened a bit after Japanese preliminary Q2 GDP expanded by 0.9% (forecast: 0.7%; prev.: 0.0%).
AUD/USD is...
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