Fundamental Morning Wrap: Eurogroup Gaff causes investor panic
This morning´s institutional research has made way on the center stage for Japan to join Cyprus in focus. Commentary from the new Japanese BoJ Gov. Kuroda has continued with the dovish theme while in Europe, Eurogroup chair Dijisselbloem had a foot-in-mouth moment which had to be sharply retracted, after he implied that the Cypriot model would be applied to future European bailouts.
Forex Flash: EUR/GBP under pressure and targeting 0.8448 – Commerzbank
Commerzbank analysts see the EUR/GBP under pressure and focused on the 0.8448 February low (50% retracement of the move higher seen this year) “and price action around this zone should prove pivotal for both short and medium term direction”, wrote analyst Karen Jones. “We suspect that this will hold the initial test. We continue to believe that EUR/GBP is forming a top. Resistance is seen at the March 15 0.8603 low”, she added, pointing to further resistance at 0.8683/84 (February 13 and March 1 highs) ahead of 0.8715, the February 1 high, that keeps the pressure on the downside.