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Forex Flash: USD/CHF potential decline ahead – Societe Generale

FXstreet.com (Barcelona) - The cross is now trading in a very narrow range between 0.9490 and 0.9500 on Friday, stabilizing after climbing as high as the boundaries of 0.9560 on Wednesday, following the positive momentum of the USD.

The research team at Societe Generale commented, “ USD/CHF realized vol now very toppish and we expect it to diminish. The realized vols of EUR/USD and USD/CHF are now at similar levels, and this cannot last, as the positive correlation between EUR/USD and EUR/CHF will dampen USD/CHF moves. All in all, this should pressure the USD/CHF implied vol curve lower”.

Forex Flash: Euro sovereign spreads declining but still seek panacea – Goldman Sachs

The introduction of the OMT has served to reduce intra-Euro area sovereign spreads. However, “our new data indicator suggests that it has done little to reduce cross-country divergence in bank lending rates to non-financial corporations (NFCs), which has remained stubbornly high in recent months despite the stabilization of sovereign markets.” suggests the Economics Research Team at Goldman Sachs.
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Forex: USD/JPY holding steady around 94.15/20

The Japanese yen is closing the week with a firm tone against its American counterpart, coinciding at the same time with the end of the fiscal year in Japan, where historically the yen tends to appreciate...
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