Comments and forex-analytics from FBS Brokerage Company - page 66

 
 
 
 
 
 
 

Mizuho: forecasts for EUR/USD

Currency strategists at Mizuho updated forecasts for EUR/USD. According to the specialists, the single currency will be steadily rising versus the greenback to reach $1.5000 in a year from now. The analysts see euro strengthening to $1.4300 in September and to $1.4650 in 3 months.

 

UBS, Commerzbank: comments on EUR/CHF

Currency strategists at UBS note that Swiss franc keeps appreciating versus the single currency and US dollar due to the encouraging economic data from Switzerland and the lack of comments from the Swiss national bank. Commerzbank notes that the data indicate that Swiss economy is fundamentally sound increasing demand for franc as a safe haven.

Switzerland's economy expanded 2.3% in the second quarter on the annual basis after gaining 2.5% in the first 3 months of the year. Swiss retail sales grew only 1.9% in July after adding 7.9% in June as Swiss prefer to go shopping abroad.

According to UBS, the pair EUR/CHF may hit the 1.1000 level or get even lower. Analysts at Commerzbank say that if euro drops below 1.1023 it will eased down to stabilize in the 1.0800 area.

 

Goldman Sachs changed RBNZ rates forecast

Analysts at Goldman Sachs believe that the Reserve bank of New Zealand will keep official cash rate unchanged at 2.5% until March, while earlier the specialists thought that the central bank will raise the borrowing costs. The RBNZ meeting is scheduled on September 15.