EUR/JPY: finding it hard at the top of the cloud, stocks a concern. EUR/JPY: highly correlated to stock price action, where to from here? EUR/JPY perked up on the correlation with US stocks paring losses from the start of the day. The cross is testing
Analysts at ING noted that a fall in world trade volumes in February following strong growth in January is not the effect of recent tensions in international trade. Key Quotes: “World trade volumes fell 0.4% in February, according to data published today by the CPB
NZD/USD bears offer no respite as the downtrend keeps extending towards the 0.7000 handle. Friday is the most important day of the week for the USD with the PCE and GDP data. The surging US 10-year note yield remains the main driver behind the US dollar
Analysts at Scotiabank explained that BoJ Gov. Kuroda wondered aloud recently as to why the JPY was a safe haven. Key Quotes: “That moniker looks less appropriate but we think it’s status as a refuge relates to Japan’s large external surpluses which leave it less
EUR/USD: bears getting stuck in ahead of the ECB tomorrow, what will be the outcome? EUR/USD testing the lowest levels for some time, penetrating the rising 100-D SMA. EUR/USD has fallen below the 100-D SMA in an extension below the rising support line from the
In respect to the euro, analysts t UOB Group explained that the “pressure has shifted to the downside”. Key Quotes: “From here, the focus has shifted to last month’s 1.2153 low and based on the vastly improved downward momentum, the odds for a break of this
The EUR/GBP is slowly drifting down but the range remains very narrow suggesting that investors are waiting for more information. Next key event in line is the ECB rate decision on Thursday which is widely expected to leave rates on hold. The EUR/GBP is
National Bank of Canada analyst Krishen Rangasamy explained that the ratio of world IP to global trade reached a 7-year low after trade volumes expanded sharply in Q1 leaving producers with lean inventories. Key Quotes: “The world economy continued to expand in Q1, albeit at
Analysts at Danske Bank, expect the Bank of Japan to maintain its ‘QQE with yield curve control’ policy unchanged at Friday’s meeting and they consider the probability of further easing to be at least as high as the probability of tightening. Key Quotes: “Since the
Analysts at Scotiabank explained that there were no data reports from the UK today and the GBP’s performance has largely reflected the generally stronger USD tone. Key Quotes: “The UK government said that the problem of the UK’s border arrangement with Ireland may not be