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Forex Flash: Gilts remain in narrow range – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “The price of Gilts has dipped to the 114.86 region, but found support at the 123.6% projection from the December-January impulse wave. From the safe havens, Gilts look increasingly less attractive as the overall bias remains for a range of 114.60-116.60 with a possible recovery towards 117.80 if the latter is ruptured. However, this is unlikely to happen in the near-term – for the week, we favor a range trade between 114.60 and 116.60. A break of the 114.58 level triggers a move down towards 114.00 and eventually 113.14. Conversely, an upside break points to recovery towards 117.82.”

Forex: EUR/USD under 1.3160 again ahead of FOMC Powell

Since the European morning drop to 1.3158 low on ECB's LTRO repayments report, the EUR/USD failed to do better than 1.3196 ahead of the US session. Then, a new downward move is extending monthly losses as the week ends. The pair has reached 1.3147 low, so far.
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Forex Flash: Next week's main headlights in FX – Merrill Lynch

Merrill Lynch analysts warn of the impending fiscal cuts that are likely to trip GDP growth: “The full sequester is poised to hit on March 1, and as Ethan Harris notes in this edition, the probable $50bn spending cut over a seven-month period would amount to a 0.5% of GDP shock”, wrote analyst Gustavo Reis, expecting GDP growth of just 1% in 2Q.
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