Dukascopy_Analyst

Dukascopy_Analyst

"Dollar strength has been seen to restrain the Fed in some way, but I think, obviously, so far this year, the dollar appreciation has very clearly unwound." - State Street Global Markets (based on Bloomberg) Pair's Outlook EUR/USD ended the Monday session with a slight loss of about 35 pips, as it touched the 1.11 mark where a declined was ultimately stopped....

Dukascopy_Analyst

"Gold rallied after Draghi's comment of ‘no need for further interest rate cuts'. The recent change in policy stance will support financial buying in gold." - Australia & New Zealand Banking Group (based on Bloomberg) Pair's Outlook A broad buoyant sentiment pushed the precious metal to fresh 13-month highs by Friday morning. Yesterday the bullion's selloff...

Dukascopy_Analyst

"Risk aversion could be next week's theme, potentially pushing dollar/yen back towards 111.00 yen." - IG Securities (based on CNBC) Pair's Outlook The American Dollar weakened against the safe haven Yen on Thursday, retreating from its one-week high, amid the sudden return of risk aversion, caused by ECB Draghi's statement. However, risk sentiment improved...

Dukascopy_Analyst

"While we believe the risk of an actual EU exit is not large, we acknowledge that the uncertainty surrounding the vote might negatively affect business confidence, in turn delaying private investments in the country." - Pioneer Investments (based on Business Recorder) Pair's Outlook Yesterday's ECB's rate decision had an impact on other currency pairs, such as...

Dukascopy_Analyst

"Draghi disappointed with his communication and some may need to amend their damaged positions." - Nomura International (based on Bloomberg) Pair's Outlook Markets finished the trading session yesterday in a slightly disappointing mood, which ultimately sent the EUR/USD cross as high as the second weekly resistance at 1.1176. However, intraday losses were...

Dukascopy_Analyst

"While we do not believe the rally will be reversed, we suspect that…the market could use a period of consolidation." - HSBC (based on Wall Street Journal) Pair's Outlook Ahead of the meeting of the European Central Bank the Dollar is broadly gaining ground across the board. This is putting downside pressure on gold for a second consecutive day on Wednesday....

Dukascopy_Analyst

"The disappointing data from China is weighing on risk sentiment and pushing the dollar lower against the yen." - Nomura (based on CNBC) Pair's Outlook On Tuesday the risk-off sentiment sparked demand for the safe haven Yen, causing the USD/JPY currency pair to reach the second support level, namely the weekly S1. Today this area acts as the immediate support,...

Dukascopy_Analyst

"We think a correction back to $1.4050 is on the cards should the Brexit risk premium resurface over the coming days." - ING (based on Reuters) Pair's Outlook As was anticipated, the Sterling weakened against the US Dollar on Tuesday, amid BoE Governor's remarks. Although volatility stretched beyond the immediate support, ultimately, trade closed above it at...

Dukascopy_Analyst

"It seems some investors are moving their positions ahead of the ECB meeting." - Bank of Tokyo-Mitsubishi UFJ (based on MarketWatch) Pair's Outlook Daily technical indicators assume the EUR/USD currency pair will come under a heavy selling pressure on Wednesday when the ECB's two-day meeting starts. Yesterday the cross was denied by the 200-day SMA at 1.1043....

Dukascopy_Analyst

"Gradual pace of tightening will be maintained in the context of China risks, global financial volatility and the knock-on impact on the U.S. economy." - Mizuho Bank (based on CNBC) Pair's Outlook Yellow metal brought substantial returns on March 3 when the price surged to almost the 1,270 mark from 1,240 in one day. With markets becoming more volatile ahead...

Dukascopy_Analyst

"Investors will find it difficult to take strong positions on one side. The dollar will unlikely gain much against the yen in either case ." - Minori Uchida, Bank of Tokyo-Mitsubishi UFJ (based on Reuters) Pair's Outlook A set of poor fundamentals caused the American Dollar to retreat from its intraday high and close trade relatively unchanged against the...

Dukascopy_Analyst

"People reduced expectations that the ECB is going to be so dramatic next week with their policy decision." - BMO Capital Markets (based on Reuters) Pair's Outlook In the run up to Friday's US payrolls data, the EUR/USD cross skyrocketed the most since February 9 and retested the January-February uptrend line. The bulls were limited by the 55-day SMA,...

Dukascopy_Analyst

"Gold still shines as a safe-haven in the current equity rout." - OCBC Bank (based on CNBC) Pair's Outlook As long as the bullion keeps trading above the February uptrend, currently at 1,217.36, the outlook will preserve a positive bias for the nearest future. Moreover, any loss should be contained at 1,200 where the price, if it experiences a decline, will...

Dukascopy_Analyst

"We don't see any fresh trading cues to support dollar buying." - FX Prime (based on Market Watch) Pair's Outlook Although the better-than-expected US GDP caused the Greenback to appreciate against the Japanese Yen on Friday, these gains are under the risk of being erased today. The Yen strengthened today, as a slump in Chinese stocks triggered a return of...

Dukascopy_Analyst

"The biggest factor behind the dollar's recent rebound is trust in the U.S. economy being resurrected. Reviving expectations for a rate hike by the Fed is a key factor to halt the dollar's recent depreciation." - FPG Securities (based on Reuters) Pair's Outlook Strong US GDP figures caused the Cable to retreat from its daily high of 1.4045, ultimately falling...

Dukascopy_Analyst

"Markets expect something to happen, without having a clear idea of what it might be. It's kind of this blind faith that the ECB will deliver something." - Jefferies International Ltd. (based on Bloomberg) Pair's Outlook EUR/USD neared the 2016 uptrend line at 1.0925 on Friday and managed to stay afloat above this key support. We are closely watching all...

Dukascopy_Analyst

"Overall, a constructive message from the G20 could support an already ongoing recovery in risk sentiment, but ultimately the ability of global growth data to improve will be more important." - BNP Paribas (based on Reuters) Pair's Outlook The American Dollar succeeded in outperforming the Yen yesterday, amid strong readings of US fundamental data. Even...

Dukascopy_Analyst

"The general economic situation is giving support to the gold market." - a bullion trader in Hong Kong (based on CNBC) Pair's Outlook Gold is gaining more and more ground. Although two days ago the commodity failed to gain a foothold above 1,250 dollars, the outlook remains bullish, even though the monthly indicators are mostly giving ‘sell' signals. The...