Robin Bhar, Research Analyst at Societe Generale, suggests that they remain bearish about the gold price over the forecast period. “However, we have increased our average gold price forecast for 2016 to $1,150/oz, in part because of gold’s stellar start to 2016...
Elliott Wave Analysis of EUR/JPY for March 18, 2016 Wave summary: There is a rally; nothing new to add here. We continue to expect minor resistance at 126.70 will protect the upside for a break below minor support at 125.05 calling for renewed downside pressure towards 122.06 and lower to 119.90...
Peter Praet, Executive Board member of the ECB, has argued that the central bank could add further stimulus if needed via another cut of the deposit rate. Praet has also reiterated that the ECB still has measures to tackle the disinflationary pressures...
Technical Analysis of EUR/USD for March 18, 2016 When the European market opens, some economic news will be released such as the German PPI m/m. The US will release economic data too such as Prelim UoM Inflation Expectations and Prelim UoM Consumer Sentiment...
Research Team at Deutsche Bank, suggests that it looks like the ‘macro prudential’ measures put by the Chinese authorities, in conjunction with their intervention in onshore and offshore RMB markets, is paying off...
Technical Analysis of USD/JPY for March 18, 2016 In Asia, Japan will release the Monetary Policy Meeting Minutes and the US will release some economic data such as Prelim UoM Inflation Expectations and Prelim UoM Consumer Sentiment...
Daily Analysis of Major Pairs for March 18, 2016 EUR/USD: The EUR/USD pair broke upwards on Wednesday, ending the short-term consolidation phase in the market. The price moved further upwards on Thursday – making it a movement of at least 260 pips within two days...
Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the possibility that the pair could re-test the vicinity of 0.9800. “USD/CHF has sold off further, extending losses towards the 2015-2016 uptrend at .9630”. “We look for this to hold the initial test, the...
Research Team at TDS, suggests that the USD/CAD looks set to mark its ninth consecutive weekly decline, totaling a net 11% decline from the January peak. “A cautious Fed, a boost in oil prices and a shift from monetary to fiscal policy in Canada have all contributed to the drop in USD/CAD...
Research Team at Danske Bank, suggests that in the euro area, data for euro area labour costs for Q4 15 is due to be released. “This will be interesting, as the ECB is worried about the low wage growth, which is contributing to inflation being suppressed...
Research Team at TDS, suggests that the seasonal factors in Canada are anticipated to drive a stronger CPI print. “A depreciating currency and falling commodity prices will do battle once again to determine the net impact on February CPI...
Richard Franulovich, Research Analyst at Westpac, suggests that a dovish Fed has upended the USD for the week and maybe the next few weeks, the Fed paying short shrift to numerous upside surprises on the economy since their last meeting as well as the easing up in financial conditions...
Research Team at TDS, suggests that the theme of stronger Canadian economic data is expected to continue with the release of January retail sales. “Retail sales are expected to rebound from what was a very weak print in December...
Daily Analysis of USDX for March 18, 2016 The Index is currently working on performing a breakout below the support zone of 94.69, in order to extend the decline towards the 93.89 level, after a strong bearish move was seen during yesterday's session...
Cameron Bagrie, Chief Economist at ANZ, notes that the NZ consumers continue to go about their daily business, if readings from the ANZ-Roy Morgan survey are anything to go by. “At 118.0 the index is down a smidgen on February (119.7), but in line with the historical average...
Daily Analysis of GBP/USD for March 18, 2016 On the H1 chart, GBP/USD has been forming a higher high pattern after a bullish momentum gained above the 200 SMA. Currently, it's facing off the strong resistance around the 1...
Martina Song, Research Analyst at Westpac, suggests that the dot plot was trimmed back again, FOMC participants indicating the appropriate fed funds rate is at 0.875% at the end of 2016. “This is 50bp lower than the Dec projection. The signal for four hikes in 2017 was retained...
Lasse Holboell Nielsen, Research Analyst at Goldman Sachs, notes that the Norges Bank cut is policy rate by 25bp, in line with their and the consensus expectation (Cons, GS: +0.50...
More short-term USD weakness. "The dovish Fed – discouraging USD bulls – has led to a de-positioning move supporting the once shunned currencies. GBP, AUD and many emerging market currencies fall into this category...
