Tag Archives: Crude Oil
FX Daily
The main release today will be the US ISM manufacturing index for February, wherewe look for a slight rebound to 52.3 following the sharp drop in January to 51.3.
Still looking for a stronger yen. NOK/SEK a 1.0720 sell?
EUR/USD: Friday’s move higher became both bigger and moreimpulsive than what we had in mind. On the other hand as aresult of the latest climb a five wave pattern up from early Feb is about to be completed.
Weekly Economic & Financial Commentary
U.S. Review Yellen at the Senate, While Weather Still Skews Data • As expected, GDP growth was revised lower, reflecting a slower build in inventories, a weaker trade position and a more cautious consumer.
JPY strength. USD/CNH peaking? EUR/SEK higher.
EUR/USD: The pair initially fell down to a 1.3643 low to completed anhourly five wave pattern down from the recent high point.The following bounce,
FX Daily
Euro inflation will likely drop to a new cycle low of 0.6% in February, whichadds pressure on the ECB ahead of the meeting next week.
€ takes a beating. USD/CAD higher. AUD/NZD down.
EUR/USD: With the break of 1.3708 the triangle scenario was abortedcalling for a slightly premature peak to have been set. Thefollowing violation of 1.3684 has further enhanced theprobability of a top been put in place.
FX Daily
Some important releases are due today ahead of next week’s ECB meeting. Acontinuation of the weakness in monetary and credit developments will add to thearguments for more easing from the ECB.
FX Daily
In the US new home sales are expected to decrease further in January after theywere weak in December. The main reason for the decline is still the bad weather,
USD/CHF a buy? NOK buying drying up
EUR/USD: The past week’s inactivity has created a contracting range, abull triangle and as such the best fitted move will be a breakto the topside.
USD/CAD in the buy zone. USD/TRY higher.
EUR/USD: With the slimmest of margins the market failed to take outthe 1.3774 resistance and completing a five wave advance.
FX Daily
The second release of the German Q4 GDP figure is likely to get some attention asthe first release of the underlying components is due.
EUR/SEK downside correction, bonds in demand
EUR/USD: Last week ended with the highest weekly close of the year(and a third consecutive weekly winner). Together with thebreak above 1.3732 the behavior suggests more topsidepotential near term and