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Currency investors should consider buying USD/JPY this week, advises Morgan Stanley in its weekly FX pick to clients. "We recommend buying USD/JPY with a target of 117.00 and a stop at 110.50. Our ARIA indicator points to stronger February US economic data...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 19:43 #usd/jpy
The Euro looks vulnerable to deeper losses after edging below trend line support guiding the upswing against the US Dollar since early March. Prices now look poised to probe below the 1.11 figure after producing a would-be double top near the 1.13 mark. Near-term support is at 1.1094, the 23...
Analytics & Forecasts
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Francis Dogbe, 28 March 2016, 18:22
We wrote on the RMB in early February, when fears over the potential for a large, one-off devaluation were at their peak...
It is a short week - at least for the world’s financial markets, if not for the rest of us. But the Easter break often sets the tone for global economic trends later in the year. After a disappointing opening to the year, the past five weeks have seen reasonable recovery in spirits...
Analytics & Forecasts
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Francis Dogbe, 28 March 2016, 17:06 #Trading
Oil enthusiasts haven’t been jumping on board the latest rally. As crude has soared 50 percent since Feb. 11, the number of bets on increased prices has barely budged. Instead, the upward pressure on prices appears to have come from traders cashing out of bearish wagers at an unprecedented pace...
Analytics & Forecasts
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Francis Dogbe, 28 March 2016, 17:02
After appearing to start the year on strong footing, it now seems like personal income and spending south of the border haven’t been all that strong after all. Both income and spending were weak in February, however revisions also wiped out just about all of the gains observed in January...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 16:38
Last week’s MoF data continued to signal strong appetite for foreign securities, with Japanese investors purchasing some JPY 2.3 trn in foreign dent on the week ended March 18, notes BNP Paribas...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 15:44
Individual markets are very specific in their behavior, so it is surprising how traders generalized one behavior for different markets. It is not only about biases like trending or ranging markets, but also impact of news on price and market...
Trading Systems
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Algofxsolution, 28 March 2016, 15:19
After a vertiginous fall, the USD/JPY tested its 111 support three times and remained capped at 115, forming a new consolidation phase...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 15:10 #usd/jpy
Research Team at Nomura, notes that the US university of Michigan consumer sentiment in the preliminary reading declined modestly to 90.0 from 91.7 as consumers raised concerns about “prospects for the economy as well as the expectation that gas prices would inch upward...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 14:27
Research Team at BBH, notes that many discussions talk about the state of the Eurozone economy as if it were Japan, struggling to sustain positive growth. “The eurozone growth was 1.6% last year after 1.0% in 2014 and 0.6% in 2013. While measures of trend growth vary, the 1...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 14:26
Research Team at Nomura, notes that the US ISM manufacturing showed a meaningful pickup in February, increasing by 1.3 points to 49.5. “Although a reading below 50 suggests manufacturing activity is still contracting, the pace of the decline seems to be slowing...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 14:24
Research Team at BNZ, lists down the key economic releases for the NZ this week. “Building Consents (Feb) – 30 March Residential building consents fell in January by more than we anticipated. Non-residential consents also came in on the weak side...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 14:22
USDCHF is currently approaching the resistance level 0.9800 which was set as the buy target in our previous forecast for this currency pair. If the price breaks above the resistance level 0.9800 - USDCHF can then rise to the next buy target 0.9900 (Chernovolov, FxBazooka...
Analytics & Forecasts
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Andy Ismail, 28 March 2016, 14:21 #usdchf
Research Team at Nomura, suggests that the slowdown in US jobs growth in January proved to be transitory as the pace of job gains picked up notably in February. “In March, employment indicators from the manufacturing sector point to fewer layoffs...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 14:20
Efficiency Stands in Way of Natural Gas Price Recovery This year natural gas price has dropped well below $2/mmbtu, observed during 2012 trough and still sliding further. Today price is down another -2.2%, trading at $1.77/mmbtu. Price has dropped to lowest levels since 1999...
Market News
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Roberto Jacobs, 28 March 2016, 13:52
Technical Analysis of CAD/CHF for March 28, 2016 CAD/CHF broke below the 200 Moving average and it is currently trading lower suggesting that the trend is down. Applying two Fibonacci channels, it is obvious that price broke below the 161...
Research Team at Danske Bank, suggests that according to preliminary data, Russia’s GDP shrank 3.7% y/y in 2015 versus 0.6% y/y growth in 2014. “The path of economic contraction continues to slow. GDP shrank 2.5% y/y In January 2016 versus a 3.5% y/y fall in December 2015...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 13:47
Technical Analysis of GBP/CAD for March 28, 2016 After forming a double bottom near the 1.8500 support level, GBP/CAD started rising and formed a strong resistance near 1.8660. The resistance did not hold for a long time and was broken together with the 261...
Research Team at BNZ, suggests that after a sharp fall earlier in the year, the NZD has settled into a trading range and they expect further weakness later in the year. “The recent lift in risk appetite and stronger Yuan could well prove to be temporary factors...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 13:45