Tag Archives: EUR/CHF

Daily Technical Report

EUR/USD has moved recently within a shorttermhorizontal range between 1.3586 and1.3650. Today’s ECB decisions are likely todetermine the direction of the next short-termtrend.

UBS Morning Adviser

Draghi’s words always do the damage, so position accordingly The ECB decision today is perhaps the most-scrutinised in nearly two years as negative rates are expected.

FX Daily

Today’s ECB meeting will be the main attraction. We expect the ECB to deliver anaggressive easing move by cutting the refi and deposit rates, taking the latter intonegative territory.

EUR/USD failed to break the resistance at1.3650 (27/05/2014 high, see also the decliningtrendline) yesterday, indicating persistent sellingpressures. Supports stand at 1.3586 and 1.3562(12/02/2014 low).

Don’t Fret About SNB Floor

What can the SNB do if the ECB cuts rates on Thursday? Assuming the floor stays inplace there are three possibilities:

UBS Morning Adviser

Is additional US outperformance needed for CAD shorts to work? Having passed up multiple opportunities to talk down the Canadian dollar in statements and

FX Daily

The Spanish and Italian May service PMIs are due for release. The Spanish figureincreased to 56.5 in April, which is the highest print since the beginning of 2007.

Daily Technical Report

EUR/USD remains in a short-term bearishtechnical structure as long as prices stay belowthe resistance at 1.3650 (27/05/2014 high, seealso the declining trendline).

UBS Morning Adviser

Should central banks pay more than lip service to domestic rebalancing? The RBA decision overnight probably lacked the suspense of the ECB.

FX Daily

The most interesting data release today is euro-zone inflation in May, which weexpect will decline back to this cycle-low of 0.5% y/y from 0.7% y/y in April.

Daily Technical Report

EUR/USD has broken the key support areabetween 1.3673 and 1.3643. The short-termtechnical structure calls for further weakness aslong as prices remain below the resistance at1.3669 (27/05/2014 high).

UBS Morning Adviser

Euro weakness or dollar strength? With the ECB likely to ease again on Thursday,