Tag Archives: EUR/PLN
GBP/USD & EUR/JPY at important levels and must be monitored
EUR/USD: There is not much for near-term bears to hinge their hopeson – yet. Cautious advance is still on and resistance in the1.3645\90 area may be scanned.
Central European Daily
The forint hits 2-week low Koruna remains stable Although immediate reaction of the forint to the 16th rate cut in a row was limited on Tuesday,
USD/JPY stays bid despite positioning and stretch. Cable targeting 1.6380
EUR/USD: The move higher is still deemed as short-term correctionaland a high for this move should be sought somewhere nearthe mid-1.36s.
Central European Daily
NBH cut base rate to new all time low… … forint remains stable The National Bank of Hungary cut the base rate by 20bp from 3.4 % to 3.2 % in line with prevailing market expectations.
Weaker SEK & CAD look likely. German & US bonds look healthier
EUR/USD: The drift higher is still on, prolonging the short-term correctional move, possibly towards the mid-body point of the bearish weekly candle ending Nov1 at 1.3645.
Central European Daily
The CNB sold 200bn Czech korunas in its interventions The NBH to cut rates to new historical lows The Czech National Bank has sold 200 bn CZK in its intervention and thus increased its FX reserves by more than 20% (to EUR 41bn) in two weeks.
A “Bearish engulfing candle” in cable has been added
EUR/USD: Nearby short-term refs to keep an eye on are located at1.3400 & 1.3585 and one has to yield to show the way. Nextabove would then be a weekly mid-body point at 1.3645 and
Technician
EUR/USD: Short-term momentum remains pro-decline (ROC20), but medium-term dynamics are clearly changing towards pro-growth momentum.
Diverging dollars. EUR/SEK ready for the next rise.
EUR/USD: Contrary to our view the pair remained firmly underpinnedon Friday moving above the 1.3488/98 resistance and up toa broader resistance cluster, 1.3550/84 (prior peak andtrend lines).
Central European Daily
Czech central bankers defend their decision Promising talks about the new Czech government Two issues have captured attention of the Czech media in recent days:
Commodity currencies continues to be sold off
EUR/USD: The 1.3488 bounce probably completed the mid bodycorrection in just one session (instead of the more normal 2-3 periods) hence downside pressure is now expected toreturn.
Central European Daily
Mateusz Szczurek becomes a new Polish FinMin CNB does not plan to change the floor for the EUR/CZK In a Polish government´s reshuffle yesterday, Mateusz Szczurek replaced the head of the Ministry of Finance, Jacek Rostowski.