Research Team at Nomura, notes that the US university of Michigan consumer sentiment in the preliminary reading declined modestly to 90.0 from 91.7 as consumers raised concerns about “prospects for the economy as well as the expectation that gas prices would inch upward...
Research Team at BBH, notes that many discussions talk about the state of the Eurozone economy as if it were Japan, struggling to sustain positive growth. “The eurozone growth was 1.6% last year after 1.0% in 2014 and 0.6% in 2013. While measures of trend growth vary, the 1...
Research Team at Nomura, notes that the US ISM manufacturing showed a meaningful pickup in February, increasing by 1.3 points to 49.5. “Although a reading below 50 suggests manufacturing activity is still contracting, the pace of the decline seems to be slowing...
Research Team at BNZ, lists down the key economic releases for the NZ this week. “Building Consents (Feb) – 30 March Residential building consents fell in January by more than we anticipated. Non-residential consents also came in on the weak side...
USDCHF is currently approaching the resistance level 0.9800 which was set as the buy target in our previous forecast for this currency pair. If the price breaks above the resistance level 0.9800 - USDCHF can then rise to the next buy target 0.9900 (Chernovolov, FxBazooka...
Research Team at Nomura, suggests that the slowdown in US jobs growth in January proved to be transitory as the pace of job gains picked up notably in February. “In March, employment indicators from the manufacturing sector point to fewer layoffs...
Technical Analysis of CAD/CHF for March 28, 2016 CAD/CHF broke below the 200 Moving average and it is currently trading lower suggesting that the trend is down. Applying two Fibonacci channels, it is obvious that price broke below the 161...
Research Team at Danske Bank, suggests that according to preliminary data, Russia’s GDP shrank 3.7% y/y in 2015 versus 0.6% y/y growth in 2014. “The path of economic contraction continues to slow. GDP shrank 2.5% y/y In January 2016 versus a 3.5% y/y fall in December 2015...
Technical Analysis of GBP/CAD for March 28, 2016 After forming a double bottom near the 1.8500 support level, GBP/CAD started rising and formed a strong resistance near 1.8660. The resistance did not hold for a long time and was broken together with the 261...
Research Team at BNZ, suggests that after a sharp fall earlier in the year, the NZD has settled into a trading range and they expect further weakness later in the year. “The recent lift in risk appetite and stronger Yuan could well prove to be temporary factors...
Analysis of EUR/NZD for March 28, 2016 Recently, EUR/NZD has been moving sideways around the 1.6660 mark. On the daily chart, the price is still trading in the defined trading range between the 1.6475 level (support) and the 1.6865 level (resistance...
Offered at 1.1173 (23.6% of 1.0517-1.1376)in Europe, the EUR/USD pair is now trading around 1.1160 and threatening to drop into losses ahead of US data release. Focus on US data US Personal spending and income growth is seen slowing in February...
Research Team at BNZ, suggests that after the RBNZ’s surprise cut the market now prices a further 0.25% OCR cut by August and around a 30% chance that rates need to be cut even further. “We anticipate a cut to 2...
EUR/CHF Comes Down to Test 1.0900 EUR/CHF is trading within a narrow range, in line with the broader fashion in the global markets on Easter Monday. EUR/CHF consolidative around 1.0900 In the meantime, the cross is struggling to keep daily gains near 1...
Research Team at Nomura notes that the US consumer confidence index dropped more than expected in February to 92.2 from 97.8. “The volatility in financial markets and less optimistic view on the labor markets likely hurt the consumers’ conviction in the US economy...
Research Team at Danske Bank, notes that the Chinese economy slowed to 6.8% y/y in Q4 driven by weaker activity in the industry and construction sector. “The service sector grew robustly above 10...
AUD/NZD Better Bid Above 20-DMA Ahead of US Data The Australian dollar manages to keep an upper edge over its OZ counterpart in a holiday-quiet European trading session, keeping AUD/NZD on the bids near 1.1250 levels. AUD/NZD trades above daily pivot at 1.1236 Currently, the AUD/NZD pair trades 0...
CHF/JPY Breaks Major Resistance 116, Targets 118.60 Major resistance - 116 The pair has broken major resistance 116 and jumped till 116.30 at the time of writing . It is currently trading around 116.19. Short term trend is slightly bullish as long as support 115 holds...
Technical Analysis of Silver for March 28, 2016 Technical outlook and chart setups: Silver is seen to be consolidating after hitting lows at $15.10/13 levels last week. The metal should be looking to produce a corrective rally through $15.45 levels from here before reversing again...
