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Jane Foley, Research Analyst at Rabobank, suggests that there was a common theme in the words of Fed Chair Yellen and in the policy statements offered by the SNB and Norges Bank. “All three cited weaker global growth as a reason for caution...
Analytics & Forecasts
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Vasilii Apostolidi, 18 March 2016, 06:04
Sean Callow, Research Analyst at Westpac, suggests that the dovish Fed tone came just in time for the AUD/USD rally, which had looked set to peter out after a failed attempt at 0.76 earlier in the week. “The record-breaking 18...
Analytics & Forecasts
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Vasilii Apostolidi, 18 March 2016, 06:03
Khoon Goh, Senior FX Strategist at ANZ, suggests that the SGD strength this year has mainly been on the back of dollar weakness, rather than based on domestic merits. • “The S$NEER is trading back above the midpoint of the band...
Analytics & Forecasts
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Vasilii Apostolidi, 18 March 2016, 06:02
EURUSD Daily Forecast: March 18 2016 EURUSD Forecast The EURUSD continued its bullish momentum yesterday topped at 1.1342. The bias remains bullish in nearest term. As you can see on my H1 chart below price is now struggling around the trend line resistance suggest a critical technical point...
Analytics & Forecasts
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Roberto Jacobs, 18 March 2016, 05:54
GBPUSD Daily Forecast: March 18 2016 GBPUSD Forecast The GBPUSD had a strong bullish momentum yesterday topped at 1.4503. The bias remains bullish in nearest term testing 1.4580 area. Immediate support is seen around 1.4400...
Analytics & Forecasts
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Roberto Jacobs, 18 March 2016, 05:52
USDCHF Daily Forecast: March 18 2016 USDCHF Forecast The USDCHF continued its bearish momentum yesterday bottomed at 0.9650. The bias remains bearish in nearest term testing 0.9600 – 0.9570 region. Immediate resistance is seen around 0.9730...
Analytics & Forecasts
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Roberto Jacobs, 18 March 2016, 05:51 #usdchf
Pivot Points-Daily Last Updated: Mar 18, 3:30 am +03:00 Symbol S3 S2...
Market News
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Mohammad Soubra, 18 March 2016, 01:44
Trading Key Risk, Commodities, China, Rates Themes in the FX Markets Talking Points Major themes around the world are easy to follow, but not as easy to trade Currencies measure many different facets of economic and financial change We look at candidates for reflecting views on risk trends, oil...
Market News
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Mohammad Soubra, 18 March 2016, 01:37
Oil continues to recover despite lingering supply concerns and this is pushing the USD/CAD exchange rate lower. The price of oil continues to rise despite continued evidence of over-supply, with WTI reaching above $40/barrel on Thursday March 17...
Analytics & Forecasts
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Vasilii Apostolidi, 17 March 2016, 22:59
Earlier this week, we wrote a piece on the AUD/USD highlighting the potential for a pullback after China's industrial production growth eased more than expected (click HERE for details...
Analytics & Forecasts
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Francis Dogbe, 17 March 2016, 22:58
After a dovish outlook from the Federal Reserve on Wednesday, JP Morgan's chief US economist Michael Feroli cut his forecast for the number of interest rate hikes by the FOMC in 2016 to 2...
Market News
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Francis Dogbe, 17 March 2016, 22:56 #Fed
Analysts at Bank of Tokyo Mitsubishi explained that renewed USD strength should still materialise but from weaker level. "Our current dollar forecasts (Foreign Exchange Outlook 1st March) were based on two rate increases this year and two still seems most likely – in June and December...
Analytics & Forecasts
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Vasilii Apostolidi, 17 March 2016, 22:03 #EUR/USD
Analysts at TD Securities are calling a further thrust lower to 108.50 in USD/JPY. Brokers TD Securities have put out a call for the USD/JPY rate to break lower extending to a target at 108.50. “We think short positions in USDJPY offer a compelling risk/reward profile...
Analytics & Forecasts
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Vasilii Apostolidi, 17 March 2016, 21:59 #usd/jpy
Our economics team’s view has been that tightening in financial conditions and market disruptions will ultimately prevent the Fed from tightening rates further this year. The message from this week’s FOMC is that the Committee agrees with this view, at least for now...
Analytics & Forecasts
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Vasilii Apostolidi, 17 March 2016, 21:57
Despite rising core inflation and falling unemployment, the Fed stays on hold, and lowers their outlook for rate hikes in 2016, notes UBS. "Lower for longer, but same pace once they really get going As expected, the Fed left rates on hold (Kansas City Fed President George dissented...
Analytics & Forecasts
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Vasilii Apostolidi, 17 March 2016, 20:40 #FOMC
According to analysts from TDS, the decline in USD/ZAR, after the FED and the South African Reserve Bank (SARB) decision, could be an opportunity to re-establish long positions. “The SARB hiked the repo rate by 25bp to 7.00% in a split decision that was all but easy to call...
Analytics & Forecasts
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Vasilii Apostolidi, 17 March 2016, 20:21
Analysts at Bank of Tokyo mitsubishi explained that forward implied interest rate differentials show markets looking for less RMB depreciation vs. USD (but still in line with our forecasts...
Analytics & Forecasts
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Vasilii Apostolidi, 17 March 2016, 20:19
Analysts at Brown Brothers Harriman explained that many investors and journalists were worried about the US slipping into a recession. "However, Q4 15 growth was revised up, and Q1 16 growth is returning to the post-crisis trend pace near 2...
Analytics & Forecasts
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Vasilii Apostolidi, 17 March 2016, 19:49
Analysts at Bank of Tokyo Mitsubishi noted that the BoJ modified its negative interest rate policy this week by including Money Reserve Funds and doubling the size of Loan Support Program borrowings in the Macro Add-On Balance. "The Fed also left monetary policy intact...
Analytics & Forecasts
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Vasilii Apostolidi, 17 March 2016, 18:46
Analysts from Danske Bank expect EUR/USD to remain between 1.10 and 1.14 after yesterday’s FOMC dovish message to the markets. “Needless to say, the surprisingly dovish message sent USD crosses lower across the board with EUR/USD testing new post-ECB highs above the 1.12 level...
Analytics & Forecasts
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Vasilii Apostolidi, 17 March 2016, 18:41 #EUR/USD