Market Analysis

07/05/2011 - 10:31
Analysts at BNP Paribas believe that British pound will gain versus the greenback in the second half of the year as the interest rate differential between the United States and Britain widens in favor of the latter as the Federal Reserve is likely to stay on hold. However, the Fed may start tightening monetary policy next year, so that GBP/USD’s uptrend will likely reverse. According to the specialists sterling may return down to $1.50 in 2012. Currency strategists at Rabobank, on the other...
07/05/2011 - 09:48
As it was expected, the Reserve Bank of Australia decided to keep the rates unchanged at 4.75%. Analysts at Barclays Capital expect the central bank to downgrade its growth and inflation forecasts in August. Though the RBA said it expects the economic recovery to boost output in coming months, it projects growth in 2011 to be less strong than previously thought. The pair AUD/USD declined from $1.0746 to $1.0665. Strategists at Western Union Business Solutions Corporate Dealing place support at...
07/04/2011 - 15:18
Analysts at BlackRock, the world's largest asset manager that’s in charge of about $3.65 trillion in assets in its stock, bond and hedge funds, think that after Australian currency has gained 28% versus US dollar during the past year that’s the most than other greenback’s major counterparts it doesn’t have much potential to keep appreciating. The specialists point out that to buy Aussie one has to be very optimistic about global economy that’s rather difficult in the current circumstances. The...
07/04/2011 - 13:43
Technical analysts at Commerzbank note that the greenback may rise versus Swiss franc if it overcomes key resistance in the 0.8540/54 area limited by May 31 maximum and May 4 minimum. The bearish pressure on US dollar will ease, only if it closes above these levels. In such case USD/CHF will be able to rise to 0.8612/30 – the 55-day MA and 23.6% Fibonacci retracement of the decline from the February 11 maximum of 0.9776. The specialists note that the pair is correcting higher, following the...
07/04/2011 - 13:03
Technical analysts at MIG bank believe that the single currency is going to keep moving up versus Swiss franc. The specialists note that there are bullish MACD divergences in the daily and weekly timeframes and a “bullish engulfing” candle on the weekly chart. According to the bank, the pair EUR/CHF is poised up to 1.2560. Chart. Weekly EUR/CHF
07/04/2011 - 12:24
Analysts at BMO Capital note that these week there are several central banks’ meetings scheduled. The most important ones are, in their view, the meeting of the Reserve Bank of Australia on Tuesday, July 5, and the one of the Bank of England on Thursday, July 7. The specialists are sure that both central banks will keep the borrowing costs unchanged. However, there are some differences in Australian and UK situation. The banks points out that there are many concerns about weak British economy,...
07/04/2011 - 11:57
Currency strategists at Rabobank claim that taking into account the improved investors’ risk appetite it’s possible to assume that Swiss franc will decline in the near term. As the same time, it’s necessary to realize that Greek debt crisis isn’t over yet. The specialists are sure that there are another periods ahead with high risk aversion. According to the bank, the appreciation of Swiss currency during the recent months was provoked by the US economic weakness and the economic slowdown in...
07/04/2011 - 11:25
Technical analysts at Commerzbank note that the single currency has found support in the $1.4305/1.4407 area trading versus the greenback. In their view, the chances that the pair EUR/USD will manage to hold above the important level at $1.4129 have increased. The specialists claim that further support is situated at the 200-week MA of $1.4021, the May minimum of $1.3968 and the intersection with 200-day MA of $1.3887. According to the bank, as on Friday the pair EUR/USD has closed at the top...

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