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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
Analysis of EUR/NZD for March 28, 2016 Recently, EUR/NZD has been moving sideways around the 1.6660 mark. On the daily chart, the price is still trading in the defined trading range between the 1.6475 level (support) and the 1.6865 level (resistance...
Analytics & Forecasts
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Roberto Jacobs, 28 March 2016, 13:43
Offered at 1.1173 (23.6% of 1.0517-1.1376)in Europe, the EUR/USD pair is now trading around 1.1160 and threatening to drop into losses ahead of US data release. Focus on US data US Personal spending and income growth is seen slowing in February...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 13:43 #EUR/USD
Research Team at BNZ, suggests that after the RBNZ’s surprise cut the market now prices a further 0.25% OCR cut by August and around a 30% chance that rates need to be cut even further. “We anticipate a cut to 2...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 13:41
Worrisome Signs Series: World Trade Suffers Further Setback in 2016 According to data from CPB Netherlands Bureau of Economic Policy Analysis, global trade suffered further setback in January, to start the year, posing doubts, whether global economy can actually recover, without key component, tr...
Market News
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Roberto Jacobs, 28 March 2016, 13:39
EUR/CHF Comes Down to Test 1.0900 EUR/CHF is trading within a narrow range, in line with the broader fashion in the global markets on Easter Monday. EUR/CHF consolidative around 1.0900 In the meantime, the cross is struggling to keep daily gains near 1...
Analytics & Forecasts
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Roberto Jacobs, 28 March 2016, 13:35 #eurchf
Research Team at Nomura notes that the US consumer confidence index dropped more than expected in February to 92.2 from 97.8. “The volatility in financial markets and less optimistic view on the labor markets likely hurt the consumers’ conviction in the US economy...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 13:34 #forex
Research Team at Danske Bank, notes that the Chinese economy slowed to 6.8% y/y in Q4 driven by weaker activity in the industry and construction sector. “The service sector grew robustly above 10...
Analytics & Forecasts
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Vasilii Apostolidi, 28 March 2016, 13:32 #China
AUD/NZD Better Bid Above 20-DMA Ahead of US Data The Australian dollar manages to keep an upper edge over its OZ counterpart in a holiday-quiet European trading session, keeping AUD/NZD on the bids near 1.1250 levels. AUD/NZD trades above daily pivot at 1.1236 Currently, the AUD/NZD pair trades 0...
Analytics & Forecasts
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Roberto Jacobs, 28 March 2016, 13:32
USD/CAD Trims Losses as Oil Drops Oil benchmarks surrendered gains, helping the USD/CAD recover from the session low of 1.3229 to trade around 1.3250 levels. Eyes US data The immediate focus now is on the US data, which is expected to show personal spending and income growth slowed in February...
Currency
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Roberto Jacobs, 28 March 2016, 13:30
Brent Oil Rejected at 5-DMA, Surrenders Gains Brent oil is now trading largely unchanged on the day after prices failed to sustain above 5-DMA level of $40.88...
Crude Oil
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Roberto Jacobs, 28 March 2016, 13:28
Oil in Global Economy Series: Why Rigs Deactivation Doesn't Matter Much? According to latest numbers from Baker Hughes, number of active oil rigs operating in United States has dropped to lowest levels since 2008/09 financial crisis...
Market News
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Roberto Jacobs, 28 March 2016, 13:25