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EUR/USD: Change to Neutral: Bullish phase ended, in a broad 1.1120/1.1375 range now. The break below 1.1200 yesterday was not surprising and indicates that the bullish EUR phase that started on the 11 Mar has ended...
The federal government released its 2016 budget today. The fiscal deficit for FY2016-17 is expected at C$29.4bn (1.5% of GDP), roughly in line with expectations, and at C$29.0bn (1.5% of GDP) for FY2017-18...
Analytics & Forecasts
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Vasilii Apostolidi, 23 March 2016, 10:47
USDX Technical Analysis for March 23, 2016 The Dollar index showed renewed strength yesterday and broke out of the short-term bearish channel. Is it a trend reversal? The decline has an overlapping structure which implies we are in a corrective phase...
Gold Technical Analysis for March 23, 2016 Despite an early breakout above the short-term resistance in Gold price, sellers pushed prices below support canceling the bullish scenario for a new high towards $1,300. As we said in our previous analysis, a rise from $1,045 can be completed...
The strongest signals this week from Danske's FX Scorecard are long AUD/JPY, long USD/JPY, and long EUR/JPY. * Danske Bank (formerly Northern Bank) is a commercial bank in Northern Ireland...
Analytics & Forecasts
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Vasilii Apostolidi, 23 March 2016, 10:08
A bid for safe assets after the attacks in Brussels supported modest gains in Treasuries along with curve Tuesday morning, but the gains reversed to modest losses in the front end and belly of the curve in the afternoon following the European close, in part triggered by less dovish comments from...
Analytics & Forecasts
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Batur Asmazoglu, 23 March 2016, 10:03
The USD has caught a bid in late Asian trading as markets digested commodities, Asia long-term economic outlook in light of falling local entrepreneurial returns and ambitious corporate balance sheets, and interest rate differentials widening further in favour of the USD...
Analytics & Forecasts
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Batur Asmazoglu, 23 March 2016, 09:43
Research Team at Rabobank, notes that the ECB announced a comprehensive easing package on 10 March, including a 10bp deposit rate cut, new 4-y TLTROs and an expansion of QE by EUR20bn to EUR80bn a month, with IG non-bank corporate sector bonds (CSPP) to be included in the list of eligible assets...
Analytics & Forecasts
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Batur Asmazoglu, 23 March 2016, 09:41
The Canadian dollar is giving away part of the recent gains vs. its neighbor on Wednesday, with USD/CAD trading on a firm note near 1.3080. USD/CAD attention to US data, EIA Spot is recovering some of yesterday’s losses and is back to trade in the boundaries of the key barrier at 1...
Analytics & Forecasts
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Batur Asmazoglu, 23 March 2016, 09:39
Sterling is once again being offered in early Europe leading to a break in the GBP/USD pair below 1.42 levels on increased Brexit fears. Offered at 1.4227 The spot turned lower from the Asian session high of 1.4227 and now trades around the session low of 1.4180 levels...
Analytics & Forecasts
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Batur Asmazoglu, 23 March 2016, 09:37
Dear Valued Clients, Please be aware that Daylight Saving Time (DST) in Europe commences from the 25th March 2016. This change is over the Easter weekend which will also affect trading. Discover more about New Trading hours on our website...
Analytics & Forecasts
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Vistabrokers CIF Ltd, 23 March 2016, 09:23
There is no trade call today. The London session is again relatively light and may see low volatility. Current Sentiment: The Asian session was again light with a lack of data. FX trading has been rangebound. WTI is down nearly $1 from yesterday’s highs as the API inventory showed a build...
Analytics & Forecasts
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Sherif Hasan, 23 March 2016, 09:15
European Economics Preview: Swiss ZEW Economic Sentiment Data Due Economic confidence and economic forecast reports from Switzerland are due on Wednesday, headlining a light day for the European economic news. At 3...
Market News
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Roberto Jacobs, 23 March 2016, 09:11
Fitch Says China Banks Profitability Pressures To Continue Fitch Ratings said major Chinese banks' are likely to see subdued earnings growth in 2016, underscoring its negative sector outlook. Chinese bank's results for 2015 are set to be released next week...
Analytics & Forecasts
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Roberto Jacobs, 23 March 2016, 09:08
EUR/USD: Higher Still on Valuation as ECB Gives Up its Euro Fight – Danske Bank Christin Tuxen, Senior Analyst at Danske Bank, suggests that the US data have started to surprise on the upside while that out of Europe continues to disappoint...
Analytics & Forecasts
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Roberto Jacobs, 23 March 2016, 09:04
Gold Drops After Failing to Rise on Good News Gold is down 1% today as investors are losing interest in the metal, which failed to rise on good news flow throughout last week. Eyes 23.6% Fibo support Prices appear on track to extend losses and test $1227 (23.6% Fibo of Dec low-Mar high...
Analytics & Forecasts
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Roberto Jacobs, 23 March 2016, 09:02 #gold
Major Currency Pairs Forecast – Danske Bank Research Team at Danske Bank, lists down the near-term forex forecast for the major currency pairs...
Analytics & Forecasts
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Roberto Jacobs, 23 March 2016, 08:59
EUR/USD Losing Altitude, Breaches 1.1200 The offered tone is now picking up pace around the single currency, dragging EUR/USD to test sub-1.1200 levels, or session lows...
Analytics & Forecasts
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Roberto Jacobs, 23 March 2016, 08:55
NZD: Scope for Short-term Rates to Move Lower Over Time - ANZ Research Team at ANZ, suggests that with the market not fully pricing in the 50bps of RBNZ cuts they expect over 2016, there is scope for short-term rates to move lower over time...
Currency
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Roberto Jacobs, 23 March 2016, 08:53
ECB: Less Focus on Rates, More on Volumes – Rabobank Research Team at Rabobank, notes that the ECB announced a comprehensive easing package on 10 March, including a 10bp deposit rate cut, new 4-y TLTROs and an expansion of QE by EUR20bn to EUR80bn a month, with IG non-bank corporate sector bonds...
Market News
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Roberto Jacobs, 23 March 2016, 08:51 #ECB