OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: USD/CNY has bearish tone - BTMU

Bank of Tokyo Mitsubishi UFJ analysts feel that USD/CNY looks bearish ahead and may move between a range of 6.2250-6.2500.

They write, “Our fundamental interpretation in China during February is of an exchange authority who, in the face of new global policy bents (the ECB hinting at discomfort with stronger euro and the FOMC now talking openly about the costs/benefits of future QE3) and regional developments (caution about the weaker yen), has once again opted to keep USD/CNY more or less stable for a month.”

They feel that this has been a time honoured pattern, but now with USD/CNH in premium to USD/CNY, market interest is in pushing the cross higher. However, with a week ahead where both higher USD/JPY has to be justified and the immediate hawkishness of the FOMC could be open to re-questioning, they foresee a bit of a retracement.

Forex Flash: Japanese PM Abe visits Obama - BBH

Brown Brothers Harriman analysts note that Japanese Prime Minister Abe visits US President Obama and there may be too many issues on Abe's agenda.
Read more Previous

Forex Flash: US frontloaded sequester to drag growth – Goldman Sachs

According to the Economics Research Team at Goldman Sachs, we expect below-trend annual growth of 1.8% in 2013 and an acceleration to 2.9% in 2014. Growth should then remain slightly above that rate in 2015 and 2016. On an annualized sequential basis, we expect a rebound to 2.8% in 2013Q1 and a slowdown to 1.5% and 2% in 2013Q2 and Q3, before a pick-up to 2.5% in the last quarter of the year.
Read more Next
Start livechat