Take “Considerable” Care of Fed Wording: Plosser doesn’t like it, and we can assume from recent comments that Fisher doesn’t either,
The FOMC statement provided a little sparks to markets yesterday.
Investors following tactical strategies should consider buying USD/CAD this week, advises Barclays Capital in its weekly FX pick to clients.
Mixed labour data has been keeping the AUD under pressure recently.
RBS is out with a note outlining some tactical FX trading ideas to play this week.
Short EURJPY. Recent developments on inflation support our call that the yen has bottomed against the USD.
Yesterday BNBP Paribas opted to take partial profit on long USD exposure, closing out its long USD/CHF provision from 0.8044 for a 1.3% gain.
GBP/USD has been testing a historically pivotal area around 1.7040-1.7170 but has failed to sustain a rally through there, notes Citi FX Technicals.
Barclays’ rationale behind the short EUR/GBP trade is as follows:
• The market is still struggling with key-pivotal resistance 1.7044/49 (2009 high/2005 low) which needs to
• The market has finally managed to trade away from key-support at 1.3477 (2014 low) which supports our view that a stronger bounce (wave 2 or wave B) could be looming.
• Having already exceeded the internal 76.4 % retreatment at 0.8005 quite a bit, chances of running into