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Derek Holt, vice president of economics at Scotiabank, doesn't mince words with his thoughts about the Federal Reserve's now-infamous "dot plot...
Analytics & Forecasts
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Francis Dogbe, 21 March 2016, 22:48 #Fed
New Zealand’s central bank has initiated a probe into an alleged leak of its surprise decision to cut the official cash rate earlier this month...
Banks
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Francis Dogbe, 21 March 2016, 22:44
The FX market is confusing this year. More easing by the BoJ, the RBNZ, the Riksbank, the ECB and the Norges Bank, led to stronger currencies, despite delivering more than markets had expected in all cases...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 21:40 #forex
The US dollar rose further against the yen during the American session as stocks in Wall Street consolidate gains. USD/JPY hit a fresh daily high at 111.92 and it was standing near the top, eying 112.00...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 21:29 #usd/jpy
The pound's solid fundamentals will shine through by the end of the year end, leading some analysts to forecast a fall to 0.72 versus the euro. The pound has untapped potential according to the Norwegian Bank DNB SA...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 20:43
According to analysts from Danske Bank, Brexit could trigger a downgrade in UK sovereign rating but might not necessarily change foreign investors’s appetite for Gilts dramatically...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 20:10
Our CORAX positioning report neatly summarized the lack of currency market conviction as position squaring was rampant into the Fed. However investors held onto yen longs after the BoJ meeting and sold NZD in size after the surprise RBNZ cut so markets are not completely dormant yet. What next...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 20:03 #forex
Shaun Osborne Chief FX Strategist at Scotiabank explained that sterling finds itself at the bottom of the overnight performance league, reflecting renewed difficulties on the home political front...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 19:59
Analysts at UOB Group noted that the dollar rose against most major currencies on Friday, recovering from a five-month low. "EUR/USD saw lows of 1.1256, after ECB’s Praet says interest rates have not reached their lower limit and a rate cut remains part of the ECB armoury...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 19:57 #forex
Given negative economic fundamentals, political woes and the looming threat of a credit rating downgrade the outlook argues for a weakening of the rand against the pound sterling. The charts, however, are not nearly so clear-cut...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 19:53
Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that they note that CFTC positioning has deteriorated for the first time in six weeks. "...with a sizeable reduction in JPY longs and modest build in shorts...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 19:39 #usd/jpy
According to analysts from Danske Bank, in a three-month horizon, US yields have little scope to rise. “The dovish message was a relatively big surprise as the US data have improved, risk sentiment has rebounded and core inflation has accelerated...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 19:24
*Westpac Bank, Westpac Banking Corporation — one of the largest banks in Australia, members of the "big four" banks and the second largest Bank in New Zealand. Below are the latest forecasts on currency pairs from Westpac. ** Westpac projections, last update 18th of March...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 19:10 #AUD/NZD, usd/jpy
GBP has come under fire at the start of the week on political developments but eyes are already focussed on the all-important inflation data out on Tuesday. GBP still on course to record a decent month’s recovery against both USD and EUR Pound to dollar exchange rate down half a percent at 1...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 18:50
Analysts at Rabobank offered the IMM Net Speculators’ Positioning as at 15 March 2016. "EUR shorts have now increased for a third consecutive week suggesting that the dovish stance of the ECB is having an impact on the currency. USD longs declined for a sixth straight week...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 18:31
The way things are shaping up on the oil price panic barometer, 17 April is now a D-Day of sorts for the industry. It’s the day both OPEC and non-OPEC countries will (reportedly) sit down together in Doha, Qatar, to work towards an output freeze deal...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 18:29
U.S. Existing Home Sales Tumble in Warning Sign for Housing Market A house-for-sale sign is seen inside the Washington DC Beltway in Annandale, Virginia January 24, 2016. Reuters/Hyungwon Kang/Files...
Market News
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Roberto Jacobs, 21 March 2016, 18:18
A fairly quiet session overall, but notable for some USD claw-backs after last week’s FOMC induced sell off. Sharp gains were seen in Cable at the time, but since tipping 1.4500, the pair has been looking pretty heavy, and after the IDS resignation over the weekend, sellers have been out in force...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 18:03 #forex
XAU/USD: Near Resistance Level of 1258.00 On the weekly chart the pair XAU/USD has rebounded from strong resistance level of 1258.00 (ЕМА200) and is going down to support level of 1238.00 (ЕМА144). The indicators OsMA and Stochastic are reversing towards the short positions...
Analytics & Forecasts
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Roberto Jacobs, 21 March 2016, 17:58 #xauusd
Pessimism over the divergence trade is compounded by worries that the February G20 meeting may have seen a behind-the-scenes agreement for the ECB and BoJ to desist from policies that could push the Dollar stronger...
Analytics & Forecasts
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Vasilii Apostolidi, 21 March 2016, 17:55 #forex