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Forex Flash: Currency markets pricing into prolonged US recovery – ANZ

FXstreet.com (Barcelona) - The lack of global growth momentum remains the key challenge to our core currency views. As a consequence, our trades remain currency-specific in nature. According to the ANZ Research Team, “Several factors, however, are signaling that the move to Dollar strength is mature. Trends in ANZ’s China Commodity Index imply that China tightening fears are likely to diminish at the margin, the UK is less comfortable with a weaker GBP, Europe has delivered its latest bailout (albeit indelicately), and positioning on the ‘dollar has turned’ view seems very significant.”

The one missing ingredient is a sense that the global recovery is balanced. At present market views seem to expect a US domestic recovery, coupled with stagnation elsewhere. As the US runs into its own fiscal headwind, we expect those expectations to converge. Some stronger data in Asia, coupled with BOJ disappointment on April 4, would be a combination useful to our medium-term views.

Forex: GBP/USD trading at support at 1.5143/45

The GBP/USD has been edging downward Tuesday, having made a failed attempt at the upside at 1.5165 earlier today during US trading. In recent minutes, the cross has fallen within sights of session lows (1.5135), trading at 1.5143/45 in these moments. The pair is fortified here by support, and is presently incurring a decline of -0.19% at the time of writing.
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Forex: US Dollar index up above 83.00

The greenback, measured by the US Dollar index, is posting gains on Tuesday, trimming recent losses and regaining at the same time the key resistance at the 83.00 figure...
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