Sergey Golubev / Blog
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"EUR came off at the start of the new week after the talks between Greece and its creditors in Brussels were abandoned after only 45 minutes yesterday...
"It appears that well supported BoE rate expectations continue to keep currency downside limited from current levels. In that respect it must be noted that medium-term inflation expectations, as measured by 5Y forward breakeven rates, remain close to multiweek highs...
Poor data for 1Q GDP and CPI have raised the possibility of a policy response from the Swiss National Bank at their 18 June meeting, notes Bank of America Merrill Lynch...
Daily price is on primary bullish with the secondary ranging between 1.1385 resistance and 1.0915 support levels which was started on close daily bar in the beginning of this month...
US Dollar - "The US Dollar continues to benefit from expectations that the US central bank will be the most aggressive of any major central bank in raising rates, but such a benefit could easily become a detriment if there’s a material downgrade in expectations...
Ian Stannard from Morgan Stanley: "despite the corrective rebound developed since early March, EURUSD remains within a long term down trend... suggests upside potential is limited for EURUSD" and the "sub-structure of the decline from June of last year has been "impulsive...
"The rise in eurozone bond yields has caused the EUR’s status as a funding currency to fade in recent weeks and the JPY to overtake as the favoured currency for the market to sell, especially as a funder for long USD positions...
Next week’s Eurogroup meeting maybe the last real chance to avoid a Greek default. Recent official discussions seemed to have focussed on providing Athens with a bailout extension in exchange for the implementation of piecemeal reforms...