Right now, there is speculation that China might end up with no choice but to devalue the yuan (also called the renminbi) if the economic situation doesn’t improve soon. Policymakers in Beijing have spoken out against the idea, but some analysts think that there might not be an option. For now, China has things mostly under control. It’s true that recent data out … “Could China Devalue the Yuan?”
Month: February 2015
EUR/USD: Trading The German ZEW Feb 2015
German ZEW Economic Sentiment is based on a monthly survey of institutional investors and analysts and their views of the German economy. A reading that is higher than the market forecast is bullish for the euro. Update: German ZEW Economic Sentiment at 53 – slightly below expectations Here are all the details, and 5 possible outcomes … “EUR/USD: Trading The German ZEW Feb 2015”
Where To Target The Squeeze In EUR/USD & Cable? –
The euro and the pound have made nice gains against the greenback. Can this continue a bit more? The team at Goldman Sachs analyzes the moves on the charts and sets the next targets: Here is their view, courtesy of eFXnews: Going into the end of last week, EURUSD has squeezed from its lows by … “Where To Target The Squeeze In EUR/USD & Cable? –”
GOLD: Bearish, Remains Vulnerable
GOLD may have closed marginally lower the past week but it continues to hold on to its broader downside pressure medium term. On the downside, support comes in at the 1,216.00 level where a break will aim at the 1,200.00 level. Below here if seen could trigger further downside towards the 1,180.00 level where a … “GOLD: Bearish, Remains Vulnerable”
EUR/GBP could reach 0.73 – BNPP
The British pound has been on the rise across the board, thanks to a few positive developments, including the BOE’s Inflation Report. The team at BNP Paribas says that sterling is set to sparle, provides charts and targets. Here is their view, courtesy of eFXnews: With the recent BoE Inflation report was more upbeat than … “EUR/GBP could reach 0.73 – BNPP”
EURUSD: Vulnerable Below The 1.1533 Level
EURUSD: While EUR may have closed higher the past week, it still faces its broader downside pressure as long as it trades below the 1.1533 level. Support is seen at 1.1300 level with a cut through here opening the door for more downside towards the 1.1269 level. Further down, support lies at the 1.1200 level … “EURUSD: Vulnerable Below The 1.1533 Level”
Sterling Shows Strength vs. Dollar for Third Week
The Great Britain pound was among the strongest currencies on the Forex market this week. The sterling gained 1.1 percent against the US dollar. It was the third consecutive weekly advance versus the greenback as well as against the Japanese yen. Market analysts thought that the main reason for the sterling’s bullishness was the Inflation Report from the Bank of England. Although the report predicted deflation in the near future, it also promised the period of falling … “Sterling Shows Strength vs. Dollar for Third Week”
Dollar Falls vs. Yen After Poor US Data
The US dollar fell against the Japanese yen today following poor macroeconomic data from the United States. The greenback was basically flat against the euro and the Great Britain pound. The University of Michigan released its preliminary estimate of the US consumer sentiment index. The indicator dropped from 98.1 in January to 93.6 this month even though analysts predicted no change. Additionally, both import and export prices fell last month, … “Dollar Falls vs. Yen After Poor US Data”
Canadian Dollar Gains for Second Day
The Canadian dollar went higher today with the help of better-than-expected macroeconomic data from Canada as well as due to the rally of crude oil prices. It was the second consecutive daily gain against the US dollar and the euro. Canada’s manufacturing sales grew 1.7 percent in December after falling 1.3 percent in November. The increase was more than two times bigger than the 0.8 percent growth predicted by analysts. The Brent grade … “Canadian Dollar Gains for Second Day”
EUR/JPY Expect more downside after a corrective pullback has
EURJPY- Having activated a corrective pullback on Thursday, more decline is expected but with caution. On the downside, support comes in the 135.00 level where a break will aim at the 134.00 level. A break will target the 133.00 level with a breach turning focus to the 132.00 level. On the upside, resistance resides at … “EUR/JPY Expect more downside after a corrective pullback has”