Results for 'USD'
154 articles with this tag name
Updated Jan 19, 2012 4:30:00 PM
EUR/USD is in the process of correcting higher as excessive short EUR positioning is cut on signs of stabilizing Eurozone debt markets. Recent EU debt auctions have been successful in spite of the recent ratings downgrades, but with growth stagnant to negative growth prospects, we don’t think much of the underlying fundamental outlook has changed. Negotiations over the Greek debt swap are nearing a potentially successful conclusion, and this also appears to be bolstering short-term
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Updated Oct 20, 2011 4:40:00 PM
EUR/USD has entered into a consolidation range between 1.3650 and 1.3920 as European leaders grapple with the 2-year old debt crisis. Negotiations are entering a critical phase with upcoming summits on Oct. 23 and 26 where EU leaders Germany and France have pledged to deliver a 'comprehensive solution.' Markets are expecting another disappointing outcome according to a recent customer survey by a major German bank, and to be sure EU leaders have not missed a
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Updated Sep 26, 2011 2:45:00 PM
EUR/USD has seen a sharp decline in recent weeks as Eurozone sovereign debt concerns, slowing growth outlooks and dovish ECB rhetoric have all weighed on the common currency. The USD has also benefitted from an overall flight to safety in light of global stock and commodity market declines. On the fundamental side, the coming week may see some improvement in the EUR's prospects, as fears of an imminent Greek default may subside after a potential
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Updated May 16, 2013 10:20:00 AM
The slew of economic data released this morning out of the US reinforced the need for ongoing Fed stimulus (for now) as reports raised concern regarding both of the Fed’s mandates (price stability and full employment). Consumer prices fell by -0.4% m/m in April which was deeper than the expected -0.3% drop and even lower than the prior month’s decline of -0.2%. This was the first back-to-back decline since 2008 and the April decline was
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Updated May 21, 2013 3:00:00 PM
The Bank of Japan’s policy meeting will conclude tonight and we do not anticipate any significant changes to current policy as aggressive measures were taken early last month at Kuroda’s inaugural meeting. The BoJ is likely to hold for now as it assesses the impact of recent action as it filters through to markets and the economy. Therefore, the focus will be placed on the tone of the statement which has the potential to be
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Updated May 15, 2013 10:12:41 PM
Last week the renminbi reached its highest level against the US dollar in 19 years. Since mid-2005 USDCNY has been on a controlled decent from a fixed position around 8.2765 to its low of 6.1307. If not for the intervention of Beijing the decrease would have been more of a collapse. However, is the renminbi still undervalued? From a fundamental perspective the Chinese currency is more fairly valued now than it was a decade ago,
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Updated May 16, 2013 1:55:00 PM
This morning the Central Bank of Turkey reduced interest rates by more than expected. The bank cut the rates by 50bps across the board while markets were anticipating a 25bps rate cut. The benchmark repo rate was reduced to 4.50% from the prior 5.00%, overnight lending rate cut to 6.50% from 7.00%, and overnight borrowing rate to 3.50% from 4.00%. This action by the central bank put pressure on the TRY which fell to its
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Updated May 9, 2013 1:30:00 PM
USD/JPY continues to trade within its bullish long term channel and the pair is currently testing above the top of a recent triangle formation. We identified this consolidation pattern earlier this week as a continuation pattern and it appears that USD/JPY may soon approach the significant 100.00 level. 100.00 has been a key technical hurdle to the upside and we maintain our view that a shift of flows from Japanese investors out of the country
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Updated May 7, 2013 1:45:00 PM
The JPY has weakened considerably against the USD over the past several months but has faced a significant hurdle ahead of the psychological 100 level. USD/JPY has been trading within a bullish channel since September of last year and the pair appears to be consolidating in a pennant formation below 100.00. This type of chart pattern suggests a continuation of the current trend and the potential for a break above 100. For now, we expect
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Updated May 14, 2013 2:40:00 PM
USD/CHF tested above the 200-week simple moving average (SMA) for the first time since early 2010 as the pair rose to its highest level this year. The move comes on the back of USD strength amid better than expected economic data and increased expectations of a reduction in the pace of Fed asset purchases. The pair has been grinding higher over the longer term and weekly technical indicators suggest that the move may continue. The
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